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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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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
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