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Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
.jpg) Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boost its stakes ownership in Indonesia's third largest coal mining producer PT Kideco Jaya Agung from currently 46% to above 50%.
Business newspaper namely Bisnis Indonesia today reports Indika plans to buy additional stakes from another shareholder Korea's Samtan Co Ltd which currently owns 49% stakes in Kideco.
A source familiar with the matter said Samtan is now in talks with Indika about a possible disposal of Kideco. Samtan has proposed a sale offer of Kideco to Indika, which owns first rights of refusal. When Indika is not interested to buy Kideco, Samtan can offer the stakes to the other potential buyers.
According to my source, Samtan has invested in Kideco for long time. "For Samtan, Kideco is like a baby. So, why does Samtan sell Kideco?" the source said.
At the end of March 2010, Kideco produced 6.9 million tons of coal with overburden removal of 44.8 million bcm. Kideco's strip ratio reached 6.49.
Kideco has bought equipments such as dump trucks, excavator, and the others. It has improved crushing plant and loading facilities. Kideco has initiated development of Samarangau pit which has the largest coal reserves at Kideco's concession area. Samarangau is estimated to have coal resouces of 694 million tons and 348 million tons of coal reserves.
In a morning notes published by Mandiri Sekuritas today, should Samtan sell Kideco to Indika, it would be positive for Indika to enhance value at operating level given that Kideco will now be consolidated in the books, should it acquire majority ownership.
Currently, Indika’s has 46% stakes, while Korea’s Samtan Co Ltd owns 49% and the remaining 5% is held by Muji Inti Utama.
This year it aims to produce some 30 million tons (+21%). Kideco has consistently achieved or outperformed its production targets since 1993, when it started commercial production and is looking to expand capacity to 40 million tons of coal by end of 2010.
Kideco’s contribution, recognized currently as other income (below operating level) in Indika’s books historically contributes close to over 90% of Indika’s net income. "We have not incorporated this in our forecast as the stock currently trades at PER10F of 13.3x."
Source: Insider Stories
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Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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