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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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Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- White Energy Company Limited
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
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