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