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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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Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
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- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
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