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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
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