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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, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
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