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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, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
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- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
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- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
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- Indonesian Coal Mining Association
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- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
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- McConnell Dowell - Australia
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- Global Green Power PLC Corporation, Philippines
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- Straits Asia Resources Limited - Singapore
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- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Singapore Mercantile Exchange
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- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
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- CNBM International Corporation - China
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- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
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- Energy Development Corp, Philippines
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- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
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- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
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- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
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- Semirara Mining and Power Corporation, Philippines
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- Economic Council, Georgia
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- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
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- SMC Global Power, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
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- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Commonwealth Bank - Australia
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- Bangladesh Power Developement Board
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- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
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- South Luzon Thermal Energy Corporation
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- Coal and Oil Company - UAE
- GMR Energy Limited - India
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- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
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- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
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- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
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- Samtan Co., Ltd - South Korea
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