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