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Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
 "SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in Indonesia, the company's largest coal operations, for US$395 million (12.3 billion baht)", Bangkok Post reported.
Bangkok post further said that, Under the terms of the transaction, Banpu Minerals (Singapore) Pte (BMS) sold 98.5 million shares in its PT Indo Tambangraya Megah (ITM) subsidiary for 36,150 rupiah apiece.
The divestment was made via a market placement to Indonesian and foreign institutional investors and is expected to close next Tuesday, Banpu said in a filing with the Stock Exchange of Thailand.
After the transaction, Banpu will remain the largest shareholder with 65% ownership of ITM, which owns five mines in Indonesia with an overall maximum annual capacity of 28.5 million tonnes. However, this year's planned output is only 23 million tonnes.
The main goal of the divestment is to strengthen Banpu's consolidated balance sheet, and the company's business stance in Indonesia will not change, said Somruedee Chaimongkol, the chief financial officer.
"The transaction will generate about $395 million in proceeds for BMS, helping to reinforce Banpu's balance sheet and establish a strong platform for the implementation of our five-year strategic plan," said Ms Somruedee.
Banpu has earmarked $189 million for investment in Indonesian mines from 2010-15.
"The reduction of our shareholding in ITM is minimal. This will not cause any change in our commitment to ITM or our proactive search for growth opportunities in Indonesia," said Ms Somruedee. "Our Indonesian coal business is still very much at the heart of Banpu's business strategy."
Listed on the Indonesian stock exchange, ITM is a profitable company with net cash, generating a net profit of about 6-7 billion baht a year for Banpu.
ITM's total output is set to rise by 17% to about 27 million tonnes next year with two new mines to become operational later this year and early next, said Kitichan Sirisukarcha, an analyst at Kim Eng Securities.
This will lift Banpu's capacity to cash in on rising coal prices, he said.
Kiatnakin Securities said tight supply and strong demand in Asia, especially from China, is projected to drive coal prices to $92-95 a tonne later this month from $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
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