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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Grasim Industreis Ltd - India
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- Altura Mining Limited, Indonesia
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- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- PTC India Limited - India
- Romanian Commodities Exchange
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- CNBM International Corporation - China
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- McConnell Dowell - Australia
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- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Ministry of Mines - Canada
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- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
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- Tata Chemicals Ltd - India
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- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
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- AsiaOL BioFuels Corp., Philippines
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- Agrawal Coal Company - India
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- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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- Sical Logistics Limited - India
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- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
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- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
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- Global Green Power PLC Corporation, Philippines
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- Baramulti Group, Indonesia
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- European Bulk Services B.V. - Netherlands
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- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
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- India Bulls Power Limited - India
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- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
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- Electricity Authority, New Zealand
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- Jorong Barutama Greston.PT - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
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- ASAPP Information Group - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
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- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
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- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
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