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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 $1.8 million in 2008, while Indika recorded revenue of Rp 2.31 trillion and net profit of Rp 1.08 trillion.
Indika shares closed unchanged at Rp 2,700 in Jakarta on Wednesday.
Source: The jakarta Globe (http://thejakartaglobe.com/business/indika-gets-approval-on-petrosea-acquisition/312782)
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 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 ...
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- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - 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
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- 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
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- 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
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- 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
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- 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
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- 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
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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