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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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- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- The Treasury - Australian Government
- Posco Energy - South Korea
- Xindia Steels Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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