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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, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS
Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollow ...
Wednesday, 18 March 09
INDONESIA'S PLN APPOINTS KPC TO SUPPLY COAL - REUTERS
State electricity firm Perusahaan Listrik Negara (PLN) appointed PT Kaltim Prima Coal to supply 1 million tonnes of coal per annum to Tanjung Jati B ...
Monday, 16 March 09
TATA POWER HAS NO PLAN TO SELL STAKE IN INDONESIA BUMI MINES - BLOOMBERG
Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two I ...
Monday, 16 March 09
ANTAM SELECTS PARTNERS FOR POMALAA POWER PLANT - THE JAKARTA POST
PT Aneka Tambang Tbk, Indonesia’s second-largest nickel producer, said it intended to develop a $300 million coal-fired plant in Pomalaa, Sout ...
Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST
PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...
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- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
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