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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
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