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Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
.jpg) Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boost its stakes ownership in Indonesia's third largest coal mining producer PT Kideco Jaya Agung from currently 46% to above 50%.
Business newspaper namely Bisnis Indonesia today reports Indika plans to buy additional stakes from another shareholder Korea's Samtan Co Ltd which currently owns 49% stakes in Kideco.
A source familiar with the matter said Samtan is now in talks with Indika about a possible disposal of Kideco. Samtan has proposed a sale offer of Kideco to Indika, which owns first rights of refusal. When Indika is not interested to buy Kideco, Samtan can offer the stakes to the other potential buyers.
According to my source, Samtan has invested in Kideco for long time. "For Samtan, Kideco is like a baby. So, why does Samtan sell Kideco?" the source said.
At the end of March 2010, Kideco produced 6.9 million tons of coal with overburden removal of 44.8 million bcm. Kideco's strip ratio reached 6.49.
Kideco has bought equipments such as dump trucks, excavator, and the others. It has improved crushing plant and loading facilities. Kideco has initiated development of Samarangau pit which has the largest coal reserves at Kideco's concession area. Samarangau is estimated to have coal resouces of 694 million tons and 348 million tons of coal reserves.
In a morning notes published by Mandiri Sekuritas today, should Samtan sell Kideco to Indika, it would be positive for Indika to enhance value at operating level given that Kideco will now be consolidated in the books, should it acquire majority ownership.
Currently, Indika’s has 46% stakes, while Korea’s Samtan Co Ltd owns 49% and the remaining 5% is held by Muji Inti Utama.
This year it aims to produce some 30 million tons (+21%). Kideco has consistently achieved or outperformed its production targets since 1993, when it started commercial production and is looking to expand capacity to 40 million tons of coal by end of 2010.
Kideco’s contribution, recognized currently as other income (below operating level) in Indika’s books historically contributes close to over 90% of Indika’s net income. "We have not incorporated this in our forecast as the stock currently trades at PER10F of 13.3x."
Source: Insider Stories
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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
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