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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 ($104.7 million) last year.
The Thursday meeting also approved the the allocation of 40.3 percent of the company's 2008 net profit, equivalent to about Rp 437 billion, in dividends. That means Rp 84 a share. The meeting also agreed on the promotion of Wishnu Wardhana as the company's vice president and the appointment of Richard Bruce Ness and Eddy Junaedy Danu as directors.
Source: http://www.thejakartapost.com/news/2009/05/29/indika-eyes-more-acquisitions.html
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Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
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- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
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