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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 $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Economic Council, Georgia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
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