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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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