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Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first semester of 2009 as part of a plan to expand in the mining sector.
Wika finance director Ganda Kusuma said Wednesday this was to take advantage of openings in the power sector, as Wika already works on power plant projects.
“We have finalized the due diligence process (for the acquisition),” Gandi said but refused to mention the acquisition value or the name of the contractor, as negotiations are still underway.
He added that Wika planned to acquire a 70 percent stake in the mining company and would finance the acquisition with its cash reserves, which now amounted to Rp 500 billion (US$42 million), of which Rp 307 billion are the proceeds from an initial public offering (IPO) carried out in 2007.
Wika offered 31.7 percent of its stake to the public in September 2007 and secured about Rp 775 billion in sales revenue proceeds in return.
The IPO diluted the government share of overall ownership in the company down to 68.3 percent. Since then, the company has continued with construction projects, mostly contracted by government .
Wika recently won several PLN power plant project contracts, including Muara Karang in Jakarta; Indramayu and Pelabuhan Ratu in West Java, Labuan Banten power plant in Banten, and several other power plant contracts in Sumatera, Sulawesi and Kalimantan.
Ganda said that Wika also plans to look for mining concessions. The company expects a 16 percent jump in revenue to Rp 7.4 trillion this year from about Rp 6.4 trillion in 2008, given that government will spend huge state funds this and next year on infrastructure projects.
Its net profit is also expected to rise by 21.5 percent to Rp 175 billion from the estimated Rp 144 billion in 2008.
Wika has also recently won a contract to build a large dam in Batam worth Rp 225 billion. The company is hoping to benefit from the government infrastructure investment program in 2009 as the state budget has already allocated Rp 34.98 trillion to the public works ministry for this.
Wika is now looking at project opportunities arising from state companies, such as state power company PT Perusahaan Listrik Negara (PLN) now in the process of completing the construction of its first 10,000 MW coal-fired power plant program, with Wika participation, and about to launch a second 10,000 MW program later this year.
Sources: The Jakarta Post
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Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST
PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...
Monday, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
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- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
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