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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Planning Commission, India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
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