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Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight increase in net income of 7.23% last year as it obtained contributions of net income from two associated companies. as qouted by Insider Stories.
Insider strories further reported, at the operational line, Harum Energy didn't show any shinny performance. Income from operations slightly decreased 6.56%, while revenue retreated 2.39%.
In the financial statement submitted to Indonesia Stock Exchange last week, Harum posted Rp822.94 billion net income last year from Rp767.47 billion in 2009.
Of the earning, the company recorded Rp131.91 billion net income from two associated companies namely coal miner PT Santan Batubara and PT Lotus Coalindo Marine.
Income from operations fell 6.56% to Rp1.14 trillion from Rp1.22 trillion, sending its operating margin lowered to 25.39% from 26.52%. Harum Energy's gross profit was also in a slight decline to Rp1.58 trillion from Rp1.66 trillion. Revenue recorded Rp4.49 trillion, a slight decrease of 2.39% from Rp4.60 trillion.
Associated companies
Harum Energy booked Rp131.91 billion net income contributions from Santan Batubara, with 50% shareholding, and Lotus Coalindo. PT Petrosea Tbk (PTRO), wholly owned subsidiary of PT Indika Energy Tbk (INDY) owns 50% shareholding in Santan Batubara.
Santan batubara contributed Rp125.41 billion net income to both Harum Energy and Petrosea, while Lotus Coalindo contributed Rp6.49 billion net income to Harum Energy.
PT Karunia Bara Perkasa controls 79.72% shareholding in Harum Energy and PT Bara Sejahtera Abadi owns 0.09% shareholding in Harum Energy. Kiki Barki and his son Lawrence Barki are controlling shareholders in Karunia Perkasa and Bara Abadi.
Source: Insider Stories
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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