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