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Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public offering planned next month to as much as $250 million, less than half the original price, due to market volatility.
The Jakarta-based company plans to sell 882.35 million shares, or a 15 percent stake, at a price range of Rp 2,300 to Rp 3,500 each. Golden Energy initially planned to sell 1.2 billion shares, or 20 percent of total shares, to raise $550 million.
The company is a unit of energy and infrastructure firm Dian Swastatika Sentosa, which will own 85 percent of Golden Energy after the initial public offering.
“Considering the volatile global market, we decided to adjust,” said Kokarjadi Chandra, president director of Sinarmas Sekuritas, the sole underwriter. He said a 15 percent share sale can generate the money Golden Energy needs for its capital expenditure.
The company will use most of the proceeds for infrastructure, working capital and an expansion of its subsidiary. Ten percent of the proceeds — or about $25 million — will go to pay off debt, valued at about $40 million and mostly owed to Dian Swastatika Sentosa, said Golden Energy president director L. Krisnan Cahya.
The bookbuilding is scheduled from Oct. 21-24, and Golden Energy will be listed on the Indonesia Stock Exchange on Nov. 11.
Golden Energy is targeting 6 million tons in coal production this year, three times higher than last year. Krisnan said production had reached 4 million tons as of September. The company expects to produce 10 million tons by 2012 and 14 million tons by 2013.
Golden Energy moved closer to its goal by opening a new pit in Kalimantan that has about 200 million tons in reserves and will produce 2.5 millions tons this year, company director Yudha Wibawa said. A new port with an annual capacity of 40 million tons, will also help with shipments.
The company expects to set aside Rp 1.36 trillion in capital expenditure up to 2016. It set Rp 501.99 billion in capital expenditure for this year, and Krisnan said it had spent about $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
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