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Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
.jpg) Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisitions by setting aside a budget amounting to up to US$300 million.
Among the company's next acquisition targets are an oil and gas block belonging to British energy giant BP Plc and local coal producer Berau Coal.
The company would take the budget from the company's cash reserves, which currently stand at US$ 377 million, finance director Azis Armand said after Indika's annual shareholders' meeting on Thursday.
"This is a good opportunity for us to expand our business operations," Azis said, adding the company was ready to seek additional funds to support the acquisitions from bank loans and bonds.
"We are opening all the possibilities," he said, refusing to mention figures.
Indika, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, has been embarking a series of acquisition plans, targeting mining and energy companies.
President director Arsjad Rasjid unveiled on Thursday a plan to partnering with state oil and gas company PT Pertamina to buy a 46 percent stake in BP's North West Java Sea block in West Java.
"We haven't decided anything yet because we are still studying it," he said when asked how much of the stake the company would obtain from Pertamina.
Arsjad also mentioned the possibility the company might buy a stake in Berau Coal, the country's fifth largest coal producer.
Meanwhile, in a move related to the Petrosea acquisition, the company decided to delay the completion of the $83.8 million deal to acquire 82 percent in Petrosea due to "administrative problems", Arsjad said.
Previously, the company hoped to close the deal in early June after securing approval in an extraordinary shareholders' meeting, which was supposed to be on Thursday.
"We decide to delay the extraordinary shareholders meeting and reschedule it for June 17," Arsjad said.
By acquiring Petrosea, Indika expects to start receiving as much as 850,000 tons of additional coal from Petrosea's subsidiary PT Santan Batubara this year, Azis said. Santan output is expected to increase to two million tons in 2010, he added.
The company is targeting to increase its coal output by 12.68 percent in 2010 from 24.85 million tons forecast for this year.
Aside from the Petrosea acquisition, the company also acquired coal mining rights to 13 sites in December. The sites are located in Melawi, West Kalimantan with a total concession area of 53,000 hectares with coal reserves estimated at 150 million tons. The production is expected to start by 2012.
Azis said that the company would spend $55 million in capital expenditure this year on the development and operation of coal mines.
Indika's net profit soared 309.4 percent to Rp 1.08 trillion ($104.7 million) last year.
The Thursday meeting also approved the the allocation of 40.3 percent of the company's 2008 net profit, equivalent to about Rp 437 billion, in dividends. That means Rp 84 a share. The meeting also agreed on the promotion of Wishnu Wardhana as the company's vice president and the appointment of Richard Bruce Ness and Eddy Junaedy Danu as directors.
Source: http://www.thejakartapost.com/news/2009/05/29/indika-eyes-more-acquisitions.html
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Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
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- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
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- Carbofer General Trading SA - India
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- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
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