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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
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