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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
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- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
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- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
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