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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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- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Planning Commission, India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
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