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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
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