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

Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...


Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...


Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...


Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...


Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...


   1342 1343 1344 1345 1346   
Showing 6716 to 6720 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 ...

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