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Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
 The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its mining business contribute a third of the firm’s net revenue in the next three to five years, its investor relations division said on Tuesday.
During 2009 when the heavy-equipment business was hit by the global financial crisis, the company managed to post only modest revenue growth of 4.8 percent, strongly supported by the performance of its mining subsidiary, PT Pamapersada Nusantara (Pama).
United Tractors posted revenue of Rp 29.24 trillion ($3.25 billion) in 2009, up from 27.9 trillion a year earlier. The mining-contracting business contributed 53 percent, while construction machinery experienced a decline and contributed 37 percent. The remaining 10 percent was contributed by coal mining.
United Tractors, a unit of PT Astra International, now aims for its three core businesses each to contribute a third of total revenue, said Ari Setiyawan, who handles investor relations for the company.
“Now mining contractors pay a great share [of the firm’s revenue], because it [revenue] is calculated in one basket. When, for example, construction machinery declines as it did last year, we would like to explore other businesses, such as coal mining,” Ari said during a visit to the Globe Media group on Tuesday.
In 2009, revenue from construction machinery declined to Rp 10,981 trillion from Rp 12,368 trillion.
United Tractors plans to acquire mining contracts in two coal mines in Central Kalimantan, Hasnanto Wahyudi, general manager of the marketing division, said on Tuesday.
“They are greenfield mines, meaning they haven’t produced yet,” Hasnanto said, adding that potential production from the two mines was about 30 million to 40 million tons.
Hasnanto declined to name the mines, but they are likely to have similar specification to one it acquired in 2008, the Tuah Turangga Agung mine, which according to a Reuters report on April 6, has 40 million tons of reserves of mid- to high-energy coal with a value of about $115 million at $3 per ton.
Apart from Tuah Turangga Agung, United Tractors owns PT Dasa Eka Jasatama, which has mining concessions in South Kalimantan with coal reserves of about 38 million tons, according to local news media.
“The point is, we would like to double our current production,” Ari said, adding that the current production of Tuah Turangga Agung mine was about 500,000 tons of coal, and Dasa Eka Jasatama produced 3 million tons.
“Our expectation is that in the next three to five years, we can produce 10 million tons.”
Akhmad Nurcahyadi, an analyst for PT BNI Securities, said diversifying revenue from the coal business could improve the company’s performance.
“As far as I can see now, demand [for coal in the international market] is stable, but they have to start to be cautious because at some point demand for it will make an adjustment after it is oversupplied,” Akhmad said.
“It is not a wrong move if they want to secure other sources [of revenue] right now as the price [of coal] tends to increase,” Akhmad said, referring to the rising price of coal globally.
Source: The Jakarta Globe ( Reported By: Muhamad Al Azhari, Ardian Wibisono, & Faisal Maliki Baskoro)
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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Simpson Spence & Young - Indonesia
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- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
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- Indogreen Group - Indonesia
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- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
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- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
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- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
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- The University of Queensland
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- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
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- Kideco Jaya Agung - Indonesia
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- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
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- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
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- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
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- Carbofer General Trading SA - India
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- Medco Energi Mining Internasional
- Australian Coal Association
- Formosa Plastics Group - Taiwan
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- Trasteel International SA, Italy
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- Sojitz Corporation - Japan
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- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
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- Iligan Light & Power Inc, Philippines
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