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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
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