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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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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Parliament of New Zealand
- VISA Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Australian Coal Association
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
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