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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Indian Oil Corporation Limited
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- Minerals Council of Australia
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- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sojitz Corporation - Japan
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- Electricity Authority, New Zealand
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- Petron Corporation, Philippines
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- Georgia Ports Authority, United States
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- Global Coal Blending Company Limited - Australia
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- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
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- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
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- European Bulk Services B.V. - Netherlands
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- GAC Shipping (India) Pvt Ltd
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- Commonwealth Bank - Australia
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- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Xindia Steels Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- Ceylon Electricity Board - Sri Lanka
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- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- ASAPP Information Group - India
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- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Eastern Coal Council - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
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- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
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- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
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- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- White Energy Company Limited
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- PowerSource Philippines DevCo
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- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
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- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
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- The Treasury - Australian Government
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- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
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- Chamber of Mines of South Africa
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