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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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Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
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