COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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)



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...


Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...


Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...


Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...


Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in the mining ...


   1331 1332 1333 1334 1335   
Showing 6661 to 6665 news of total 6871
News by Category
Popular News
 
Total Members : 28,706
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • TNPL - India
  • Tata Chemicals Ltd - India
  • Aboitiz Power Corporation - Philippines
  • Vitol - Bahrain
  • Independent Power Producers Association of India
  • Siam City Cement PLC, Thailand
  • Kepco SPC Power Corporation, Philippines
  • GAC Shipping (India) Pvt Ltd
  • Petron Corporation, Philippines
  • Singapore Mercantile Exchange
  • OPG Power Generation Pvt Ltd - India
  • Bukit Baiduri Energy - Indonesia
  • Freeport Indonesia
  • Deutsche Bank - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Billiton Holdings Pty Ltd - Australia
  • Pinang Coal Indonesia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Jorong Barutama Greston.PT - Indonesia
  • GB Group - China
  • Jaiprakash Power Ventures ltd
  • TANGEDCO India
  • Thriveni
  • Samtan Co., Ltd - South Korea
  • Chettinad Cement Corporation Ltd - India
  • Price Waterhouse Coopers - Russia
  • Renaissance Capital - South Africa
  • Wilmar Investment Holdings
  • Banpu Public Company Limited - Thailand
  • Indonesian Coal Mining Association
  • Mercator Lines Limited - India
  • Interocean Group of Companies - India
  • India Bulls Power Limited - India
  • SMC Global Power, Philippines
  • Holcim Trading Pte Ltd - Singapore
  • OCBC - Singapore
  • ETA - Dubai
  • International Coal Ventures Pvt Ltd - India
  • Panama Canal Authority
  • Australian Coal Association
  • Mitra SK Pvt Ltd - India
  • GN Power Mariveles Coal Plant, Philippines
  • Kobe Steel Ltd - Japan
  • Thailand Anthracite
  • Neyveli Lignite Corporation Ltd, - India
  • Malco - India
  • Cosco
  • Indonesia Power. PT
  • Agrawal Coal Company - India
  • Standard Chartered Bank - UAE
  • Coal Orbis AG
  • Inspectorate - India
  • HSBC - Hong Kong
  • Leighton Contractors Pty Ltd - Australia
  • Glencore India Pvt. Ltd
  • Riau Bara Harum - Indonesia
  • Shree Cement - India
  • Bank of China, Malaysia
  • Arch Coal - USA
  • Platou - Singapore
  • Cargill India Pvt Ltd
  • Coal India Limited
  • PTC India Limited - India
  • Berau Coal - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Infraline Energy - India
  • The State Trading Corporation of India Ltd
  • Chamber of Mines of South Africa
  • MEC Coal - Indonesia
  • Maersk Broker
  • Krishnapatnam Port Company Ltd. - India
  • Orica Australia Pty. Ltd.
  • IMC Shipping - Singapore
  • Bharathi Cement Corporation - India
  • Bangkok Bank PCL
  • CCIC - Indonesia
  • GMR Energy Limited - India
  • Economic Council, Georgia
  • Cebu Energy, Philippines
  • CIMB Investment Bank - Malaysia
  • Moodys - Singapore
  • New Zealand Coal & Carbon
  • Vizag Seaport Private Limited - India
  • ICICI Bank Limited - India
  • Maybank - Singapore
  • Pendopo Energi Batubara - Indonesia
  • Cemex - Philippines
  • Ambuja Cements Ltd - India
  • Lanco Infratech Ltd - India
  • U S Energy Resources
  • Edison Trading Spa - Italy
  • Cement Manufacturers Association - India
  • Makarim & Taira - Indonesia
  • White Energy Company Limited
  • Coaltrans Conferences
  • Thermax Limited - India
  • Gupta Coal India Ltd
  • The India Cements Ltd
  • Bukit Asam (Persero) Tbk - Indonesia
  • Maruti Cements - India
  • Orica Mining Services - Indonesia
  • Adaro Indonesia
  • KEPCO - South Korea
  • Coalindo Energy - Indonesia
  • Ince & co LLP
  • Russian Coal LLC
  • ACC Limited - India
  • Jindal Steel & Power Ltd - India
  • Larsen & Toubro Limited - India
  • Mintek Dendrill Indonesia
  • Idemitsu - Japan
  • Sucofindo - Indonesia
  • UBS Singapore
  • London Commodity Brokers - England
  • Indorama - Singapore
  • SN Aboitiz Power Inc, Philippines
  • Indian Oil Corporation Limited
  • Aditya Birla Group - India
  • APGENCO India
  • Global Green Power PLC Corporation, Philippines
  • CoalTek, United States
  • TRAFIGURA, South Korea
  • Baramulti Group, Indonesia
  • SGS (Thailand) Limited
  • Tamil Nadu electricity Board
  • Thai Mozambique Logistica
  • Malabar Cements Ltd - India
  • Indogreen Group - Indonesia
  • Maharashtra Electricity Regulatory Commission - India
  • Madhucon Powers Ltd - India
  • Bulk Trading Sa - Switzerland
  • Gujarat Electricity Regulatory Commission - India
  • Central Electricity Authority - India
  • Timah Investasi Mineral - Indoneisa
  • Sindya Power Generating Company Private Ltd
  • Ministry of Mines - Canada
  • EMO - The Netherlands
  • Vedanta Resources Plc - India
  • Attock Cement Pakistan Limited
  • Globalindo Alam Lestari - Indonesia
  • Gresik Semen - Indonesia
  • Mitsubishi Corporation
  • Mechel - Russia
  • DBS Bank - Singapore
  • Jatenergy - Australia
  • Bhatia International Limited - India
  • Dalmia Cement Bharat India
  • Semirara Mining and Power Corporation, Philippines
  • Argus Media - Singapore
  • CNBM International Corporation - China
  • Humpuss - Indonesia
  • Essar Steel Hazira Ltd - India
  • Cigading International Bulk Terminal - Indonesia
  • PLN - Indonesia
  • Grasim Industreis Ltd - India
  • San Jose City I Power Corp, Philippines
  • Rashtriya Ispat Nigam Limited - India
  • Rudhra Energy - India
  • Bukit Makmur.PT - Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • WorleyParsons
  • NALCO India
  • TGV SRAAC LIMITED, India
  • Directorate General of MIneral and Coal - Indonesia
  • IOL Indonesia
  • BNP Paribas - Singapore
  • Kaltim Prima Coal - Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Coal and Oil Company - UAE
  • Platts
  • Surastha Cement
  • Asian Development Bank
  • Medco Energi Mining Internasional
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Manunggal Multi Energi - Indonesia
  • Kideco Jaya Agung - Indonesia
  • Kartika Selabumi Mining - Indonesia
  • Straits Asia Resources Limited - Singapore
  • Japan Coal Energy Center
  • Meralco Power Generation, Philippines
  • Semirara Mining Corp, Philippines
  • Ind-Barath Power Infra Limited - India
  • Barasentosa Lestari - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Intertek Mineral Services - Indonesia
  • Petrosea - Indonesia
  • Bayan Resources Tbk. - Indonesia
  • Indika Energy - Indonesia
  • Altura Mining Limited, Indonesia
  • Eastern Coal Council - USA
  • Marubeni Corporation - India
  • Fearnleys - India
  • SRK Consulting
  • SMG Consultants - Indonesia
  • Rio Tinto Coal - Australia
  • Energy Development Corp, Philippines
  • Bahari Cakrawala Sebuku - Indonesia
  • CESC Limited - India
  • Savvy Resources Ltd - HongKong
  • NTPC Limited - India
  • Electricity Authority, New Zealand
  • Meenaskhi Energy Private Limited - India
  • Antam Resourcindo - Indonesia
  • Xstrata Coal
  • Karbindo Abesyapradhi - Indoneisa
  • Barclays Capital - USA
  • Clarksons - UK
  • Thomson Reuters GRC
  • Global Coal Blending Company Limited - Australia
  • Parry Sugars Refinery, India
  • Bhoruka Overseas - Indonesia
  • TeaM Sual Corporation - Philippines
  • Xindia Steels Limited - India
  • Siam City Cement - Thailand
  • Noble Europe Ltd - UK
  • Gujarat Mineral Development Corp Ltd - India
  • Central Java Power - Indonesia
  • globalCOAL - UK
  • Miang Besar Coal Terminal - Indonesia
  • Britmindo - Indonesia
  • Energy Link Ltd, New Zealand
  • The Treasury - Australian Government
  • Oldendorff Carriers - Singapore
  • KPMG - USA
  • Asia Cement - Taiwan
  • Tata Power - India
  • Power Finance Corporation Ltd., India
  • Geoservices-GeoAssay Lab
  • Runge Indonesia
  • PLN Batubara - Indonesia
  • EIA - United States
  • Adani Power Ltd - India
  • Permata Bank - Indonesia
  • Directorate Of Revenue Intelligence - India
  • Georgia Ports Authority, United States
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • GNFC Limited - India
  • Port Waratah Coal Services - Australia
  • Kohat Cement Company Ltd. - Pakistan
  • Vale Mozambique
  • KPCL - India
  • Metalloyd Limited - United Kingdom
  • The University of Queensland
  • Alfred C Toepfer International GmbH - Germany
  • Reliance Power - India
  • Bangladesh Power Developement Board
  • Formosa Plastics Group - Taiwan
  • IEA Clean Coal Centre - UK
  • VISA Power Limited - India
  • Asmin Koalindo Tuhup - Indonesia
  • Pipit Mutiara Jaya. PT, Indonesia
  • Merrill Lynch Bank
  • Latin American Coal - Colombia
  • Trasteel International SA, Italy
  • ANZ Bank - Australia
  • Arutmin Indonesia
  • GHCL Limited - India
  • Posco Energy - South Korea
  • Ministry of Transport, Egypt
  • Commonwealth Bank - Australia
  • Indian School of Mines
  • McKinsey & Co - India
  • Parliament of New Zealand
  • Inco-Indonesia
  • Wood Mackenzie - Singapore
  • BRS Brokers - Singapore
  • GVK Power & Infra Limited - India
  • PetroVietnam Power Coal Import and Supply Company
  • Uttam Galva Steels Limited - India
  • Sical Logistics Limited - India
  • Samsung - South Korea
  • PowerSource Philippines DevCo
  • Star Paper Mills Limited - India
  • Eastern Energy - Thailand
  • Videocon Industries ltd - India
  • AsiaOL BioFuels Corp., Philippines
  • Ministry of Finance - Indonesia
  • McConnell Dowell - Australia
  • J M Baxi & Co - India
  • MS Steel International - UAE
  • Mercuria Energy - Indonesia
  • LBH Netherlands Bv - Netherlands
  • UOB Asia (HK) Ltd
  • World Bank
  • Merrill Lynch Commodities Europe
  • PetroVietnam
  • PNOC Exploration Corporation - Philippines
  • JPMorgan - India
  • Africa Commodities Group - South Africa
  • ING Bank NV - Singapore
  • Enel Italy
  • Sakthi Sugars Limited - India
  • Ernst & Young Pvt. Ltd.
  • Karaikal Port Pvt Ltd - India
  • Gujarat Sidhee Cement - India
  • Bank of America
  • Borneo Indobara - Indonesia
  • Peabody Energy - USA
  • European Bulk Services B.V. - Netherlands
  • Toyota Tsusho Corporation, Japan
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Romanian Commodities Exchange
  • Kobexindo Tractors - Indoneisa
  • Kapuas Tunggal Persada - Indonesia
  • Carbofer General Trading SA - India
  • Deloitte Consulting - India
  • Heidelberg Cement - Germany
  • Kalimantan Lumbung Energi - Indonesia
  • Bhushan Steel Limited - India
  • IHS Mccloskey Coal Group - USA
  • Electricity Generating Authority of Thailand
  • Total Coal South Africa
  • SASOL - South Africa
  • Global Business Power Corporation, Philippines
  • bp singapore
  • Goldman Sachs - Singapore
  • Indian Energy Exchange, India
  • World Coal - UK
  • Tanito Harum - Indonesia
  • Cardiff University - UK
  • Binh Thuan Hamico - Vietnam
  • Coeclerici Indonesia
  • IBC Asia (S) Pte Ltd
  • Credit Suisse - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Core Mineral Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • Minerals Council of Australia
  • Sarangani Energy Corporation, Philippines
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Mjunction Services Limited - India
  • Vijayanagar Sugar Pvt Ltd - India
  • RBS Sempra - UK
  • Qatrana Cement - Jordan
  • JPower - Japan
  • Lafarge - France
  • Maheswari Brothers Coal Limited - India
  • Coastal Gujarat Power Limited - India
  • Anglo American - United Kingdom
  • KOWEPO - South Korea
  • Salva Resources Pvt Ltd - India
  • Mitsui
  • SUEK AG - Indonesia
  • Therma Luzon, Inc, Philippines
  • Shenhua Group - China
  • Australian Commodity Traders Exchange
  • Sojitz Corporation - Japan
  • Planning Commission, India
  • Simpson Spence & Young - Indonesia
  • Kumho Petrochemical, South Korea
  • ASAPP Information Group - India
  • Thiess Contractors Indonesia
  • South Luzon Thermal Energy Corporation
  • Sree Jayajothi Cements Limited - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India