Commissioner increases ownership in Adaro

Wed, Jan25, 2011

A commissioner at PT Adaro Energy Tbk (ADRO), Indonesia’s second-largest coal producer, has purchased 300,000 shares of the company at Rp 1,830 per share to increase his ownership of the growing company.

Malaysian national Lim Soon Huat, who has been a commissioner at Adaro since October 2008, made the deal on Friday, Jan. 20, when the firm’s stock price closed at Rp 1,820 a share, according to a file submitted to the Indonesia Stock Exchange (IDX).

The stock purchase was done for investment, the file said, without disclosing the total shares Soon Huat owned. Soon Huat has over 15 years experience in the financial industry and corporate management in Singapore, Thailand, Malaysia, Hong Kong, China and Indonesia.

Major international ratings agency Fitch Ratings recently said it might upgrade Adaro’s credit rating to investment grade from the current BB+ with stable outlook, on the company’s strong financial fundamentals amid rising demand for coal.

Adaro’s shares traded at Rp 1,840 at 10:23 a.m. on Wednesday, gaining 0.55 percent from the previous day’s close when the broader stock index was in the red.

sourced: The Jakarta Post

Indonesia Stock Movers: Bank Negara, Summarecon Agung, Renuka

Monday, Dec 12, 2011

Shares of the following companies had unusual (JCI) moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the close in Jakarta.

The Jakarta Composite Index rose 0.9 percent to 3,792.15.

Coal producers: PT Bumi Resources (BUMI) , Asia’s largest exporter of power-station coal, gained 1.1 percent to 2,225 rupiah. PT Adaro Energy (ADRO) , the second-largest producer, rose 5 percent to 1,930 rupiah. PT Tambang Batubara Bukit Asam (PTBA) , a state-owned coal producer, gained 1.8 percent to 17,200 rupiah.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 0.2 percent in the week ended Dec. 9, according to the globalCOAL NEWC Index.

PT Bank Negara Indonesia (BBNI) , the third-biggest state-owned bank by market value, rose 1.3 percent to 3,975 rupiah. Bank Indonesia Governor Darmin Nasution told the nation’s commercial lenders to lower borrowing costs as Southeast Asia’s biggest economy looks to domestic consumption to drive growth amid a global slowdown.

PT Renuka Coalindo (SQMI) , an Indonesian coal producer jumped 23.7 percent to 365 rupiah, the highest close since Nov. 30, 2004. Renuka expects to boost annual coal output at its wholly-owned unit, PT Jambi Prima Coal, to at least 1 million metric tons next year, Renuka President Director Ganesh Mane said by telephone in Jakarta on Dec. 9. Jambi Prima, which has begun operating a mine in Jambi province in Sumatra, is producing 50,000 tons to 60,000 tons of coal a month, Mane said.

PT Summarecon Agung (SMRA) , a property developer, gained 4.5 percent to 1,170 rupiah, set for the highest close since Nov. 4. Summarecon may spend 1.3 trillion rupiah ($143 million) in 2012 to fund projects such as a shopping mall, a convention center and a sports club, Investor Daily Indonesia reported, citing President Director Johanes Mardjuki. Mardjuki couldn’t be reached when called at his office.

(sourced Bloomberg)

Indonesia's Adaro Energy says its unit secures $400 mln loan facility

Tue Feb 22, 2011 7:16am GMT

JAKARTA Feb 22 (Reuters)

PT Adaro Energy , Indonesia's biggest coal miner by market value, said on Tuesday that its contractor unit, PT Saptaindra Sejati, had secured a $400 million facilities agreement from 13 banks, including PT Bank Mandiri .

(Reporting by Fathiya Dahrul, sourced:Thomson Reuters)

ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION

Friday, 04 February 11

As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase compare to 40.59 million tons in the 2009. The 2010's coal production reached 94 percent of its target of 45 million tons despite rainfall and number of rain days.

In an official statement submitted to Indonesia Stock Exchange (IDX), Adaro has reported that, production from the new Wara pit was less affected as it is in the initial stages of development and benefited from a low overburden stripping ratio.

Insider stories further reported that, Adaro's coal sales volume increased 6 percent to 43.84 million tons last year from 41.40 million tons in the previous year. These sales includes the third party coal sales sold by Coaltrade of 1.39 million tons and Envirocoal-Wara of 2.05 million tons.

The miner plans to ramp up production to 46 million tons-48 million tons of coal, including 4 million tons-5 million tons of Envirocoal-Wara in this year. This new product continues to receive strong demand from countries such as India, China, South Korea, and Indonesia.

Coal mining & overburden
PT Pamapersada Nusantara, a wholly owned subsidiary of PT United Tractors Tbk (UNTR), was responsible for 39 percent of Adaro Indonesia’s coal last year. PT Bukit Makmur Mandiri Utama (BUMA), a wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID) and PT Rahman Abdijaya (RAJ) were responsible for 19 percent and 14 percent respectively. Slightly less than 2009, Adaro Energy’s subsidiary PT Saptaindra Sejati (SIS) managed 25 percent of the total while Adaro Indonesia itself handled 1%.

PT Rante Mutiara Insani (RMI) assisted in the development of the Envirocoal-Wara pit and contributed 2 percent of Adaro Indonesia’s coal production. In 2010, Pamapersada handled 40 percent of Adaro’s overburden, while BUMA, RAJ, RMI and Adaro Indonesia handled 19%, 8%, 2% and 1% respectively.

SIS handled 30percent, a similar portion as the 31% handled in 2009.

Despite the wet conditions, overburden removal increased 10 percent in 4Q10 to 60.35 million bank cubic meter (bcm). The average overburden removal per day was 710,000 bcm, 616,000 bcm and 648,000 bcm in October, November and December, respectively last year. A new daily production overburden record of 915,000 bcm was set on October 23rd.

In 2010, overburden removal increased 8% to 226 million bcm, however due primarily to the impact of wet weather Adaro’s contractors achieved only 88% of the plan. The rate of increase was well below the 31% increase in 2009, indicating the impact of not having a dry season in 2010. Reported by Insider Stories

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