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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
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- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
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- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
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- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
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- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
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- Tata Chemicals Ltd - India
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- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
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- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
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- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
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- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- The University of Queensland
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- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Star Paper Mills Limited - India
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- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
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- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
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- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
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- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
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- Xindia Steels Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
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- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- VISA Power Limited - India
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- Independent Power Producers Association of India
- Planning Commission, India
- Agrawal Coal Company - India
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- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
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- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
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- Parliament of New Zealand
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- Neyveli Lignite Corporation Ltd, - India
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- Rashtriya Ispat Nigam Limited - India
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- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
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