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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
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