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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 ($291.2 million) from an initial public offering next month.
The share sale would be the third-biggest IPO by an Indonesian company this year.
Andi Djajanegara, the president director of ABM, said the company planned to sell 550.6 million shares, or a 20 percent stake, for between Rp 3,250 and Rp 4,650 per share.
The Jakarta-based company said it would use 66 percent of the proceeds to finance the expansion of its units, 27 percent to repay debt and the remainder to boost its capital.
“We want to develop our five core businesses’’ with the proceeds from the sale, Andi said.
Those businesses are coal production, contract mining, integrated logistics, power solutions and engineering.
ABM plans to more than quadruple its coal production by 2015 from 2.7 million tons to meet rising demand in the global market. The company’s production has already hit 90 percent of its target for this year.
“China and India lead in coal demand, coupled with domestic demand,’’ Andi said.
ABM Investama’s total concession area covers 7,703 hectares with coal reserves of 221 million tons. It has mines in South Kalimantan and one in Aceh in Sumatra.
The company reported a net income of Rp 208.2 billion in the first six months of the year on revenue of Rp 2.8 trillion.
Cipta Kridatama, an ABM unit involved in contract mining, contributed the bulk of the company’s top-line figure, with first-half revenue of Rp 1.2 trillion.
The company has hired Morgan Stanley, Macquarie and Mandiri Sekuritas, a unit of Bank Mandiri, to help with the IPO.
Based on the IPO price range, ABM Investma’s price-to-earnings ratio would be 7.5 to 10.8, according to Iman Rachman, a director at Mandiri Sekuritas.
“Investors need to understand that this company is a diversified mining company. The PE ratio reflects its diverseness,” he said. “Its main revenue is still from its mining contractor services. But with the expansion, it will focus more on coal mining.”
The share offering will run from Nov. 28-30 with a planned listing on the Indonesia Stock Exchange on Dec. 5.
Other coal companies have gone public recently. Atlas Resources raised Rp 975 billion from an offering last week and its shares began trading on Tuesday.
Garuda Indonesia, the nation’s flag carrier, had the biggest IPO so far this year when it raised Rp 4.7 trillion in February. Salim Ivomas Pratama, the plantation unit of Indofood Group, raised Rp 3.48 trillion from its June offering.
The Hamami family also controls Trakindo Utama, the sole authorized Indonesian dealer for heavy equipment maker Caterpillar, but that is not involved in the IPO.
Source: The Jakarta Globe
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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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- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Eastern Coal Council - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- The Treasury - Australian Government
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- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- White Energy Company Limited
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- Eastern Energy - Thailand
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- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- Minerals Council of Australia
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- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
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- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
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- VISA Power Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
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- IEA Clean Coal Centre - UK
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
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- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
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- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
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- Mintek Dendrill Indonesia
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- Indonesian Coal Mining Association
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- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
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- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
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- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
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- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
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