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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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Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
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