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Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
.jpg) Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisitions by setting aside a budget amounting to up to US$300 million.
Among the company's next acquisition targets are an oil and gas block belonging to British energy giant BP Plc and local coal producer Berau Coal.
The company would take the budget from the company's cash reserves, which currently stand at US$ 377 million, finance director Azis Armand said after Indika's annual shareholders' meeting on Thursday.
"This is a good opportunity for us to expand our business operations," Azis said, adding the company was ready to seek additional funds to support the acquisitions from bank loans and bonds.
"We are opening all the possibilities," he said, refusing to mention figures.
Indika, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, has been embarking a series of acquisition plans, targeting mining and energy companies.
President director Arsjad Rasjid unveiled on Thursday a plan to partnering with state oil and gas company PT Pertamina to buy a 46 percent stake in BP's North West Java Sea block in West Java.
"We haven't decided anything yet because we are still studying it," he said when asked how much of the stake the company would obtain from Pertamina.
Arsjad also mentioned the possibility the company might buy a stake in Berau Coal, the country's fifth largest coal producer.
Meanwhile, in a move related to the Petrosea acquisition, the company decided to delay the completion of the $83.8 million deal to acquire 82 percent in Petrosea due to "administrative problems", Arsjad said.
Previously, the company hoped to close the deal in early June after securing approval in an extraordinary shareholders' meeting, which was supposed to be on Thursday.
"We decide to delay the extraordinary shareholders meeting and reschedule it for June 17," Arsjad said.
By acquiring Petrosea, Indika expects to start receiving as much as 850,000 tons of additional coal from Petrosea's subsidiary PT Santan Batubara this year, Azis said. Santan output is expected to increase to two million tons in 2010, he added.
The company is targeting to increase its coal output by 12.68 percent in 2010 from 24.85 million tons forecast for this year.
Aside from the Petrosea acquisition, the company also acquired coal mining rights to 13 sites in December. The sites are located in Melawi, West Kalimantan with a total concession area of 53,000 hectares with coal reserves estimated at 150 million tons. The production is expected to start by 2012.
Azis said that the company would spend $55 million in capital expenditure this year on the development and operation of coal mines.
Indika's net profit soared 309.4 percent to Rp 1.08 trillion ($104.7 million) last year.
The Thursday meeting also approved the the allocation of 40.3 percent of the company's 2008 net profit, equivalent to about Rp 437 billion, in dividends. That means Rp 84 a share. The meeting also agreed on the promotion of Wishnu Wardhana as the company's vice president and the appointment of Richard Bruce Ness and Eddy Junaedy Danu as directors.
Source: http://www.thejakartapost.com/news/2009/05/29/indika-eyes-more-acquisitions.html
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Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
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