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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, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
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