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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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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
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