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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Australian Coal Association
- Marubeni Corporation - India
- Planning Commission, India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
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