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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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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
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