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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
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