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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- The Treasury - Australian Government
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
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