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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, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
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- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
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