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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- The University of Queensland
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
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