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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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Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
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- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
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