We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
|
|
|
Showing 6711 to 6715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
|
| |
| |
|