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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
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- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
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- Minerals Council of Australia
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- Wilmar Investment Holdings
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- Gujarat Sidhee Cement - India
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- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
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- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
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- Power Finance Corporation Ltd., India
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- South Luzon Thermal Energy Corporation
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- Global Green Power PLC Corporation, Philippines
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- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
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- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
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- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
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- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
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- Price Waterhouse Coopers - Russia
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- Posco Energy - South Korea
- Aditya Birla Group - India
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- Planning Commission, India
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- Global Business Power Corporation, Philippines
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- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
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- Economic Council, Georgia
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