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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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- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
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- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
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- Australian Coal Association
- ASAPP Information Group - India
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- Gujarat Electricity Regulatory Commission - India
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- The State Trading Corporation of India Ltd
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- Cement Manufacturers Association - India
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- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
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- Africa Commodities Group - South Africa
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- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
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- Marubeni Corporation - India
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- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
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- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
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- Global Business Power Corporation, Philippines
- Planning Commission, India
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- Georgia Ports Authority, United States
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- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
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- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
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- Directorate General of MIneral and Coal - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
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- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
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- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
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- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
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- Therma Luzon, Inc, Philippines
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- Videocon Industries ltd - India
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- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
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- Latin American Coal - Colombia
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- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
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- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
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