We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
|
|
|
Showing 6771 to 6775 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
|
| |
| |
|
