Energi Mineral Langgeng Urged to Stop Exploration in Tanjung Village
SUMENEP, Indonesia Today - Hundreds of Sumenep residents, East Java force PT Energi Mineral Langgeng (EML) to stop its exploration…
State Officers Likely to Welcome Lady Gaga, FPI Threaten to Dissolve Concert
JAKARTA, Indonesia Today – State Officers are likelihood to welcome international superstar Lady Gaga to perform at Gelora Bung Karno…
First Lady Downplays Ideas to Be 2014 President Candidate
JAKARTA, Indonesia Today – First Lady Ani Yudhoyono plays down the ideas of her presidential candidacy in 2014 Election currently…
Multipolar Expands in Direct Broadcast Satellite Business
JAKARTA, Indonesia Today - PT Multipolar Tbk has acquired 85% shares of PT Tecnoves International as part of its expansion…
Delta Dunia Coal Output Down 2%
JAKARTA, Indonesia Today - PT Bukit Makmur Mandiri Utama (BUMA), mining contractor unit of PT Delta Dunia Makmur Tbk (DOID),…
JAKARTA, Indonesia Today - PT United Tractors Tbk (UNTR)’s coal sales in the first four months of 2012 jumped 37.3%…
Overseas Travel Ban Imposed on Dutasari Director in Hambalang Graft Case
JAKARTA, Indonesia Today - The Corruption Eradication Commission (KPK) files an overseas travel ban to Immigration Directorate General against Mahfud…
Tutung Alpha-3 Drilling Scheduled for Completion This Quarter
LONDON, Indonesia Today - Drilling at Tutung Alpha-3 appraisal well on Bontang PSC, East Kalimantan is scheduled for completion by…
Indosat Seeks Consent from Note Holders
SINGAPORE, Indonesia Today - Indosat Palapa Company B.V., a Singaporean subsidiary of PT Indosat Tbk, is soliciting consents from holders…
Newcastle Port Coal Shipment Drops 55%
PERTH, Indonesia Today - Newcastle Port Corporation slashed its coal shipment for the week ended 21 May 2012 by 55%…
Rabobank Lost US$800,000 Lawsuit on Credit Facility Dispute
JAKARTA, Indonesia Today - South Jakarta District Court obliges Rabobank to compensate Golden Harvestino US$810,654 following credit facility dispute, Bisnis…
Bank DBS Indonesia Posts Flat Profit in Q1
JAKARTA, Indonesia Today - PT Bank DBS Indonesia reported profit after tax of Rp105.18 billion in the first quarter (Q1)…
Latest News
SGX offers MSCI Indonesia Futures from 11 JuneSINGAPORE, Indonesia Today - Singapore Exchange’s (SGX) MSCI Indonesia Index Futures will begin trading from 11 June 201... Stocks | Tuesday, 22 May 2012 Read more |
ENRG's Tonga Block Commences Oil ProductionJAKARTA, Indonesia Today - Tonga block PSC, controlled by Energi Mega Persada (ENRG), has commenced oil production at capacity of 500... Banking | Tuesday, 22 May 2012 Read more |
Bank Permata Sets Bond Coupon at 8.5-9.5%JAKARTA, Indonesia Today - PT Bank Permata Tbk (BNLI) has set indicative coupon of between 8.50% to 9.50% for its Rp700 ... Bonds | Tuesday, 22 May 2012 Read more |
Three Trucks of PTPN II Burnt Down Following Clash with Local PeopleDELI SERDANG, Indonesia Today - Local people has burnt down three unit trucks of State plantation company PT Perkebunan Nusantara II ... Dispute | Tuesday, 22 May 2012 Read more |
Multipolar Controls 10.59% Stake in Bank NobuJAKARTA, Indonesia Today - Lippo Group’s service and trading company, PT Multipolar Tbk (MLPL) invests Rp43.73 billion in PT Nationalnobu (Ba... Banking | Tuesday, 22 May 2012 Read more |
IDX Gains 1.19% on Regional and Wall Street ReboundsJAKARTA, Indonesia Today - Composite index of the Indonesia Stock Exchange (IDX) gained 1.19% to 3,986.90 this morning following the re... Stocks | Tuesday, 22 May 2012 Read more |
Fitch Affirms Bank Riau Kepri at 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has affirmed PT Bank Pembangunan Daerah Riau Kepri's (Bank Riau Kepri) National Long-Term Rating at... Banking | Monday, 21 May 2012 Read more |
Fitch Upgrades BPD Maluku to 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has today upgraded PT Bank Pembangunan Daerah Maluku's (Bank Maluku) National Long-Term Rating and se... Banking | Monday, 21 May 2012 Read more |
Astra Sedaya Financing Likely to Go Up to $200 MillionJAKARTA, Indonesia Today - The US$120 million three-year term loan for Astra Sedaya Finance is oversubscribed and may be increased to... Banking | Monday, 21 May 2012 Read more |
Templeton's Investment in Indonesia Declines to 5% in AprilFLORIDA, Indonesia Today - Templeton Global Income Fund invested 5% of its total net assets in Indonesia as of April 30... Stocks | Monday, 21 May 2012 Read more |
Pratt & Whitney Canada Signs 5-Year Service Agreement with Pacific Royale AirwaysMINNESOTA, Indonesia Today - Pratt & Whitney Canada SEA (P&WC SEA), located in Singapore, has signed a five-year Maintenance, Repair an... Transportation | Monday, 21 May 2012 Read more |
Nomura Research Establishes Representative Office in JakartaTOKYO, Indonesia Today - Nomura Research Institute Ltd. (NRI), a leading provider of consulting services and system solutions, today announces th... Internet | Monday, 21 May 2012 Read more |
Omedia Again Extends Megapower AcquisitionKUALA LUMPUR, Indonesia Today - Oriented Media Group Berhad (Omedia) extends its proposed acquisition of 85% equity interest in PT Me... Energy | Monday, 21 May 2012 Read more |
Interra's Goldpetrol Commences Drilling in MyanmarSINGAPORE, Indonesia Today - Interra Resources Limited, a company controlled by Indonesian tycoon Edwin Soeryadjaya, announces today that its jointly co... Energy | Monday, 21 May 2012 Read more |
JSW Steel Production Grows 10% in AprilSINGAPORE, Indonesia Today - JSW Steel Limited reported monthly crude steel production of 7.15 lacs tons for April 2012, with a ... Steel | Monday, 21 May 2012 Read more |
Tunas Ridean to Acquire Izusu DistributorJAKARTA, Indonesia Today - Car distributor and dealer PT Tunas Ridean Tbk (TURI) and its unit PT Tunas Mobilindo Parama pl... Automotive | Monday, 21 May 2012 Read more |
Surya Toto to Build Sanitary Factory This YearJAKARTA, Indonesia Today - Sanitary and plumbing company PT Surya Toto Indonesia Tbk (TOTO) intends to build new sanitary factory in... Stocks | Monday, 21 May 2012 Read more |
Zebra NUsantara to Acquire CNG DistributorJAKARTA, Indonesia Today - Transportation company PT Zebra Nusantara Tbk (ZBRA) plans to acquire a company, distributor of compressed natural gas... Transportation | Monday, 21 May 2012 Read more |
Mother of Hidayat Nur Wahid Passes AwayJAKARTA, Indonesia Today – Siti Rahayu, mother of Hidayat Nur Wahid, Jakarta governor candidate from the Prosperous Justice Party (PKS), ha... People | Monday, 21 May 2012 Read more |
Bank Riau Kepri Books Rp64 Billion Profit in Q1JAKARTA, Indonesia Today - Regional development bank PT Bank Riau Kepri reported profit after tax of Rp63.89 billion in the fi... Banking | Monday, 21 May 2012 Read more |
Bank Sulselbar Books Rp68 Billion Profit in Q1JAKARTA, Indonesia Today - Regional development bank PT Bank Sulawesi Selatan dan Barat (Sulselbar), formerly PT Bank Sulsel, posted consolidated pr... Banking | Monday, 21 May 2012 Read more |
BCA Targets Rp4 Trillion Loan for InfrastructureJAKARTA, Indonesia Today - PT Bank Central Asia (BCA) Tbk (BBCA) targets to loan Rp3-4 trillion for infrastructure sector in ... Banking | Sunday, 20 May 2012 Read more |
BI Rules on Rewards Restriction and Individual Ownership in BanksJAKARTA, Indonesia Today - Central bank Bank Indonesia (BI) releases policy direction for conventional banking this year, including the restriction ... Banking | Sunday, 20 May 2012 Read more |
Ratu Prabu Plans Rigths Issue in Q3JAKARTA, Indonesia Today - PT Ratu Prabu Energy Tbk (ARTI) plans to issue new shares through pre-emptive rights scheme in ... Stocks | Saturday, 19 May 2012 Read more |
LOS ANGELES, Indonesia Today - PHI Group, Inc, a company focused on energy and natural resources, has signed a Letter of Intent to acquire approximately 100 million metric tonnes of coal resources in East Kalimantan.
PHI Group said the deal includes the operation and production license (IUP Operasi Produksi) of coal mine located in an area of 9,900 hectares in East Kalimantan, Indonesia. The concession is currently owned by PT. MSP, an Indonesian company with headquarters in Kutai Timur, Kalimantan Timur, Indonesia.
According to the signed Letter of Intent, PT. MSP and PHI Group will enter a definitive agreement to fix the price, terms and conditions of the transaction within the month of March 2012 or soon thereafter. Analysis of the PT. MSP coal samples shows gross calorific values in the range of 5,300 - 6,300 Kcal/kg. Coal thickness is between 6 to 18 meters and stripping ratios 1:3 and 1:5.
"This transaction is part of PHI Group's ongoing program to acquire and accumulate energy and natural resource assets in Southeast Asia, partner with coal-fired power plants and introduce advanced clean coal combustion technology to existing and new plants in Asia. The company is currently working with major international institutions in New York, Europe and Asia to arrange financing for these programs," PHI claimed. (Indonesia Today)
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