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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, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
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- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
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