We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the best price for Indonesian assets that were sold in 2001 to settle a debt.
The case, which has its origins in the 1997/98 Asian financial crisis, involves a 40 percent stake in PT Adaro Energy (ADRO.JK), Indonesia's second-largest coal miner, and pits Germany's largest lender against Beckkett, a Singapore investment firm linked to Sukanto Tanoto, one of Indonesia's richest men.
The dispute involved claims and counterclaims in the tens of millions of dollars.
In a judgement on Monday, Singapore's Court of Appeal said Deutsche Bank did not take proper steps to sell a 74.2 percent stake in a firm called Swabara Mining at the best price. The shares had been pledged as security for a $100 million loan, court documents show.
The shares in Swabara, whose assets included the Adaro stake, belonged to Beckkett. The Swabara shares were sold by Deutsche for about $46 million to an investment firm linked to the Soeryadjayas, a wealthy Indonesian family.
The Singapore court ordered that Deutsche pay damages based on the valuation of the pledged shares, although it did not specify the amount. The compensation due to Beckkett will be assessed at a hearing before a registrar at a future date.
The court, however, also upheld Deutsche's claim that it suffered a loss of $86.9 million, which was the balance of the loan after the sale of the pledged shares plus interest and costs.
UBS analyst Andreas Bokkenheuser said in a note to clients on Tuesday the Singapore judgement created "an overhang" risk in that Beckkett's claim could be extended to Adaro.
The ruling may also delay an upcoming sale of a 17 percent stake in Adaro by a group of minority shareholders, UBS said.
Adaro's shares fell almost 2 percent on Tuesday after news of the judgement, versus a 1.3 percent gain in the Jakarta bourse .JKSE.
In a statement on Tuesday, Beckkett said the damages owed by Deutsche could be "in excess of $150 million" even after settling Deutsche's counterclaim in full.
Beckkett said it arrived at the figure after referencing Deutsche's own valuation of the assets held by Swabara.
Deutsche spokesman Michael West, however, described Beckkett's calculation as "entirely speculative".
"Beckkett has to still prove that it suffered a loss," Deutsche said in a statement. "Deutsche will present evidence for the first time to the court in support of its valuation of the shares" at the upcoming registrar's hearing, the bank said. (Additional reporting by Saeed Azhar; Editing by Neil Chatterjee & Ian Geoghegan)
Source: http://uk.reuters.com/article/oilRpt/idUKSIN46298020090428?pageNumber=2&virtualBrandChannel=0&sp=true
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
|
|
|
Showing 6786 to 6790 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Marubeni Corporation - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Mercuria Energy - Indonesia
|
| |
| |
|
