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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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Monday, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- Coal and Oil Company - UAE
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- Posco Energy - South Korea
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
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- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
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- Mercator Lines Limited - India
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- SMC Global Power, Philippines
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- Intertek Mineral Services - Indonesia
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- Anglo American - United Kingdom
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- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Cement Manufacturers Association - India
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- Sarangani Energy Corporation, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
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- Holcim Trading Pte Ltd - Singapore
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- CNBM International Corporation - China
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- Bangladesh Power Developement Board
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- Directorate Of Revenue Intelligence - India
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- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
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- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Goldman Sachs - Singapore
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
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- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- PTC India Limited - India
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- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
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- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
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- Ministry of Finance - Indonesia
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- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
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