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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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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
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- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- The University of Queensland
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
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- Wood Mackenzie - Singapore
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- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
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- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
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- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
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- CIMB Investment Bank - Malaysia
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- Medco Energi Mining Internasional
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- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
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- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
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- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
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- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
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