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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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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
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