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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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- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Semirara Mining Corp, Philippines
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