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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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- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
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