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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
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- Kapuas Tunggal Persada - Indonesia
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- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- The University of Queensland
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
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