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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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Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
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