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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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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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Showing 5896 to 5900 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
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