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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
 PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year thanks to rising demand from the mining sector.
“We have seen a recovery in the mining business. Therefore, the company is confident about booking higher sales this year,” said Sara K Loebis, the company’s corporate secretary.
Heavy machinery accounts for 40 percent of United Tractors’ revenue. Sales totaled 2,600 units in first nine months of 2009, down 31 percent compared with the same period in 2008. Total sales last year were projected to decline 28 percent from 2008.
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“We have seen a recovery in the mining business. Therefore, the company is confident about booking higher sales this year”
Sara K Loebis
Corporate Secretary, United Tractors
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United Tractors expects its mining contractor, PT Pamapersada Nusantara, to increase its coal production by 5.8 percent this year, to 72 million tons from 68 million tons last year. The company’s earnings as a contractor are based on output. United Tractors did not project 2010 revenue for Pamapersada Nusantara, whose contracting business provides 50 percent of its revenue.
The remaining 10 percent of United Tractors’ revenue comes from its coal mines. Its mining division is now negotiating for two concessions in Kalimantan, Sara said.
“The acquisition process is currently under way,” she said. “One mine is under price negotiation while the other mine is under due diligence.”
Sara said the company expected to sell 3.5 million tons of its coal in 2010.
In November, United Tractors said it would spend the bulk of its $430 million in planned capital expenditure this year on its contract-mining business.
“We will spend $30 million on our heavy machinery unit and $400 million on our contract-mining unit,” said Gideon Hasan, the company’s finance director.
The $30 million will be internally financed, he said, while the $400 million will largely come from vendor financing. Vendor financing refers to the lending of money by a supplier so a customer can buy its products.
Source: The Jakarta Globe
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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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