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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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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
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