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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
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- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
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- Anglo American - United Kingdom
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- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ministry of Mines - Canada
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- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
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- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
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- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
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- White Energy Company Limited
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- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
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