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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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- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
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