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Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
 The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intangible assets.
The company said in a news release on Tuesday that net profit fell to Rp 725.67 billion ($79.82 million) last year from Rp 1.08 trillion in 2008. It had initially projected net profit to grow by 11 percent.
Last year the company, whose main business is coal mining, recorded a foreign exchange loss of Rp 245.32 billion, compared to forex exchange gain of Rp 194 billion in 2008.
The company said revenue increased 7.4 percent to Rp 2.5 trillion last year from Rp 2.3 trillion.
Indika also recorded an impairment loss on intangible assets of Rp 241.02 billion, which it attributed to the implementation of the cabotage regulation, which stipulates that only locally owned vessels can transport goods in Indonesian waters. The company did not elaborate. Indika officials could not immediately be reached for comment.
Johnson W Sutjipto, the head of the Indonesian National Shipowners’ Association, questioned how Indika could suffer a loss because of the cabotage regulation. Johnson said a coal company should benefit from the implementation of cabotage as there was an adequate supply of domestic ships and their transportation charges should be lower than those of foreign ships. “[Local ships] should be around 10 to 20 percent cheaper,” Johnson said.
Indika’s coal mining subsidiary, PT Kideco Jaya Agung, saw a 21.3 percent increase in revenue from $1.1 billion to $ 1.3 billion on the back of higher sales and a stronger average selling price.
But its oil and gas services unit, PT Tripatra, saw revenue drop to Rp 733 billion from Rp 1.3 trillion in 2008.
Mining services unit PT Petrosea, which was acquired in June of last year, booked revenue of Rp 854 billion last year. No comparative figure was given.
“This year is quite good for Indika and they could possibly reach a 30 percent growth for their revenue this year,” said Jerome Jovellana, an analyst at PT Mandiri Sekuritas. Jerome’s target price for Indika shares is Rp 2,750. The shares rose 1.1 percent to Rp 2,300 on Tuesday.
Source: The Jakarta globe ( By: Yessar Rosendar)
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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Planning Commission, India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- The University of Queensland
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