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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent stake in local oil, gas and mining contractor PT Petrosea from Clough International Singapore for $83.8 million, following a preliminary agreement signed in February.
Indika needed to obtain shareholder approval for the acquisition because it constitutes a material transaction.
Indika’s president director, Arsjad Rasjid, said the shareholders told the board to conduct further due diligence on Petrosea before finalizing the transaction.
“They also approved the company’s plan to launch a tender offer for Petrosea shares held by retail investors,” he said, noting that about 18.05 percent of Petrosea is now publicly owned.
Arsjad said that based on the preliminary agreement, the acquisition was scheduled for completion on June 30.
“We hope to consolidate Petrosea’s accounts with Indika’s in the third quarter financial report. Petrosea’s contribution to revenue will be very significant,” he said, adding that if the acquisition had taken place last December, Indika’s revenue would have increased 86 percent to Rp 4.309 trillion ($422.3 million), from Rp 2.314 trillion a year earlier.
Azis Armand, Indika’s chief financial officer and a Petrosea commissioner, said that Petrosea recently won a $315 million, four-year coal-mining contract from PT Gunung Bayan, as well as a $250 million, five-year mining deal with PT Samtan Batubara.
Petrosea posted revenue of $205.8 million and net profit of $1.8 million in 2008, while Indika recorded revenue of Rp 2.31 trillion and net profit of Rp 1.08 trillion.
Indika shares closed unchanged at Rp 2,700 in Jakarta on Wednesday.
Source: The jakarta Globe (http://thejakartaglobe.com/business/indika-gets-approval-on-petrosea-acquisition/312782)
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Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
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- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
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