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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Planning Commission, India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Indian Oil Corporation Limited
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