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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- PowerSource Philippines DevCo
- Planning Commission, India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- PTC India Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
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