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Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first semester of 2009 as part of a plan to expand in the mining sector.
Wika finance director Ganda Kusuma said Wednesday this was to take advantage of openings in the power sector, as Wika already works on power plant projects.
“We have finalized the due diligence process (for the acquisition),” Gandi said but refused to mention the acquisition value or the name of the contractor, as negotiations are still underway.
He added that Wika planned to acquire a 70 percent stake in the mining company and would finance the acquisition with its cash reserves, which now amounted to Rp 500 billion (US$42 million), of which Rp 307 billion are the proceeds from an initial public offering (IPO) carried out in 2007.
Wika offered 31.7 percent of its stake to the public in September 2007 and secured about Rp 775 billion in sales revenue proceeds in return.
The IPO diluted the government share of overall ownership in the company down to 68.3 percent. Since then, the company has continued with construction projects, mostly contracted by government .
Wika recently won several PLN power plant project contracts, including Muara Karang in Jakarta; Indramayu and Pelabuhan Ratu in West Java, Labuan Banten power plant in Banten, and several other power plant contracts in Sumatera, Sulawesi and Kalimantan.
Ganda said that Wika also plans to look for mining concessions. The company expects a 16 percent jump in revenue to Rp 7.4 trillion this year from about Rp 6.4 trillion in 2008, given that government will spend huge state funds this and next year on infrastructure projects.
Its net profit is also expected to rise by 21.5 percent to Rp 175 billion from the estimated Rp 144 billion in 2008.
Wika has also recently won a contract to build a large dam in Batam worth Rp 225 billion. The company is hoping to benefit from the government infrastructure investment program in 2009 as the state budget has already allocated Rp 34.98 trillion to the public works ministry for this.
Wika is now looking at project opportunities arising from state companies, such as state power company PT Perusahaan Listrik Negara (PLN) now in the process of completing the construction of its first 10,000 MW coal-fired power plant program, with Wika participation, and about to launch a second 10,000 MW program later this year.
Sources: The Jakarta Post
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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 ...
Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
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- Edison Trading Spa - Italy
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Planning Commission, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
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