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