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Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight increase in net income of 7.23% last year as it obtained contributions of net income from two associated companies. as qouted by Insider Stories.
Insider strories further reported, at the operational line, Harum Energy didn't show any shinny performance. Income from operations slightly decreased 6.56%, while revenue retreated 2.39%.
In the financial statement submitted to Indonesia Stock Exchange last week, Harum posted Rp822.94 billion net income last year from Rp767.47 billion in 2009.
Of the earning, the company recorded Rp131.91 billion net income from two associated companies namely coal miner PT Santan Batubara and PT Lotus Coalindo Marine.
Income from operations fell 6.56% to Rp1.14 trillion from Rp1.22 trillion, sending its operating margin lowered to 25.39% from 26.52%. Harum Energy's gross profit was also in a slight decline to Rp1.58 trillion from Rp1.66 trillion. Revenue recorded Rp4.49 trillion, a slight decrease of 2.39% from Rp4.60 trillion.
Associated companies
Harum Energy booked Rp131.91 billion net income contributions from Santan Batubara, with 50% shareholding, and Lotus Coalindo. PT Petrosea Tbk (PTRO), wholly owned subsidiary of PT Indika Energy Tbk (INDY) owns 50% shareholding in Santan Batubara.
Santan batubara contributed Rp125.41 billion net income to both Harum Energy and Petrosea, while Lotus Coalindo contributed Rp6.49 billion net income to Harum Energy.
PT Karunia Bara Perkasa controls 79.72% shareholding in Harum Energy and PT Bara Sejahtera Abadi owns 0.09% shareholding in Harum Energy. Kiki Barki and his son Lawrence Barki are controlling shareholders in Karunia Perkasa and Bara Abadi.
Source: Insider Stories
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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Parry Sugars Refinery, India
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- Global Business Power Corporation, Philippines
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- Renaissance Capital - South Africa
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- Pendopo Energi Batubara - Indonesia
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- The Treasury - Australian Government
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- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
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- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
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- Coal and Oil Company - UAE
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