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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, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
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- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
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- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- The University of Queensland
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- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
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- Australian Commodity Traders Exchange
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- New Zealand Coal & Carbon
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- Thiess Contractors Indonesia
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- Kumho Petrochemical, South Korea
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- Chamber of Mines of South Africa
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- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
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- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
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- White Energy Company Limited
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- SMG Consultants - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
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- Price Waterhouse Coopers - Russia
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- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Coal Blending Company Limited - Australia
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- Siam City Cement PLC, Thailand
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- London Commodity Brokers - England
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- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
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- Formosa Plastics Group - Taiwan
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- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
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- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
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- Orica Australia Pty. Ltd.
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- Bhatia International Limited - India
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- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Holcim Trading Pte Ltd - Singapore
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