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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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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 ...
Monday, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
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- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
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- Aditya Birla Group - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- The University of Queensland
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- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
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- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Xindia Steels Limited - India
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- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Economic Council, Georgia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- White Energy Company Limited
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
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