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

Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...


Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...


Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for  40,000/10 pct steam size in June 2009. South African c ...


Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing. China's largest coal pr ...


Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...


   1339 1340 1341 1342 1343   
Showing 6701 to 6705 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 ...

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