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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
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