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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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- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
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