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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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Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
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- Timah Investasi Mineral - Indoneisa
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- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
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- Aboitiz Power Corporation - Philippines
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- Thai Mozambique Logistica
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- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
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- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
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- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
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- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
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- Independent Power Producers Association of India
- Romanian Commodities Exchange
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- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
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- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
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- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
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- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
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- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
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- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
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