Fitch Ratings has affirmed Indonesia-based PT Indika Energy Tbk’s (Indika) Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDR) at ‘CCC’ and assigned a Positive Outlook. Indika’s senior notes due 2018 and 2023 have also been affirmed at ‘CCC’ with a Recovery Rating of ‘RR4′.
Shareholders Value Creation
Indika Energy believes in creating long-term shareholders value through strong management, local know-how and synergizing its integrated business pillars of energy resources, services and infrastructure across the energy value chain
1. To capitalize on Indonesia’s abundant natural resources and growth in energy demand, including identifying and acquiring attractive energy investments
Indika Energy seeks out investments in the energy sector through a disciplined acquisition approach based on deep comprehension of energy assets. This requires Indika Energy to stay informed of natural resources regulatory development and to promote Indonesia’s economic development through its domestic and international interests.
2. To integrate diverse energy platforms and extract operational efficiencies
Indika Energy’s expertise and capabilities now span the entire coal energy operations business chain. Improved operational flexibility, cost management, and the provision of efficient services to clients throughout the value chain are critical to extracting synergies from this integration.
3. To leverage existing partnerships and expertise in the energy sector by pursuing initiatives aimed at supplying and serving new markets
Currently, Indika Energy plays a considerably large role in the coal mining industry as well as nationwide energy services, including the logistics and energy infrastructure (power plant) businesses. Kideco’s international customers include leading power plant companies from 16 countries across Asia and Europe. Its eco-friendly, low-calorific, low-ash and low-sulfur coal provides the possibility, through blending, of creating new products for new markets.
4. To optimize production operational efficiencies by leveraging existing assets for productivity and efficiency in mining operations
Through the implementation of structured planning and corporate work plans, Indika Energy strives to achieve optimal efficiencies in the use of resources, cost management, fleet management and operational flexibility.
5. To continue to diversify earnings sources and stabilize cash flows
Indika Energy’s business includes integrating attractive investments to diversify and grow earnings, while maintaining financial prudence to ensure value protection.
01 January 1970 | 12:000
Summary of Indika Energy financial performance over the last five years.
Year of 2015
as of 31 December 2015
as of 31 December 2015
|Description||Number of Shares||Ownership|
|PT Indika Mitra Energi||3,307,097,790||63.47%|
|JPMCB Singapore Branch-2157804955||271,762,000||5.22%|
|Public (under 5%)||1,631,332,210||31.31%|
|Description||Value||Stock Listing||Interest Rate||Effective Date||Maturity Date||Rating|
|Notes 2018||US$ 300 M||Singapore Stock Exchange||7%||5 May 2011||May 2018||“B3” with negative outlook by Moody’s and “B” with negative outlook by Fitch|
|Notes 2023||US$ 500 M||Singapore Stock Exchange||6.375%||24 January 2013||January 2023||“B3” with negative outlook by Moody’s and “B” with negative outlook by Fitch|
(IN BILLION RP)
|Dividend Per Share
|Dividend Payout Ratio||Dividend Payment Date|
|2008||437.40||84.00||40.32% of 2008 Net Income||3 July 2009|
|2009||362.83||69.68||50.00% of 2009 Net Income||25 June 2010|
|2010||249.94||48.00 (Interim Dividend)||-||30 November 2010|
|135.39||26.00 (Final Dividend)||-||29 July 2011|
|Total||385.30||74.00||50.00% of 2010 Net Income||-|
|2011||312.61||60.00||25.79% of 2011 Net Income||26 July 2012|
|2012||US$ 19,000,000,00||US$ 0.003647||21.79% of 2012 Net Income||31 July 2013|
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