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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Maheswari Brothers Coal Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
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- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Parliament of New Zealand
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- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
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- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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