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Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
 Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore Coal.
GEAR is acquiring a 19.9 per cent stake in coking coal-focused Stanmore for A$47.6 million in cash, with plans to eventually transfer that interest to a 51 per cent joint venture that is offering up to A$201 million for all the remaining shares of Stanmore.
The offer by joint venture Golden Investments (Australia), which GEAR has set up with Ascend Global Investment Fund, is pegged at A$0.95 per Stanmore share. After the offer closes, Golden Investments will acquire GEAR's 19.9 per cent Stanmore stake for a number of Golden Investments shares equal to the cash amount that GEAR paid for the Stanmore shares. GEAR is acquiring the Stanmore shares from Greatgroup Investments, Stanmore's largest shareholder.
The volume weighted average price (VWAP) of Stanmore Coal's shares for all trades done on 16 Nov - the last full day of trading before the announcement - was approximately A$0.8597 per share.
Explaining the acquisition, coal producer GEAR said: "By acquiring an interest in Stanmore Coal, a primarily coking coal focused company, GEAR hopes to enhance its overall asset portfolio in the current commodity price environment by diversifying and expanding its coal product suite and geographical presence."
GEAR and Ascend Global have agreed to fund Golden Investments' bid by subscribing for additional Golden Investments shares. GEAR has agreed to subscribe for shares totalling up to A$79.25 million, while Ascend Global will subscribe for up to A$121.88 million of shares only if Golden Investments is able to obtain control of at least 51 per cent of Stanmore.
Based on Stanmore Coal's FY18 results, the net asset value (NAV) and net tangible assets (NTA) of the sale shares translating to the 19.9 per cent stake are about A$14.56 million and approximately A$13.81 million respectively, as at June 30. Meanwhile, the NAV and the NTA of the shares under the offer (attributable to GEAR's 31.9 per cent stake in Golden Investments before the transfer of the sale shares) are approximately A$23.31 million and A$22.11 million respectively as at June 30.
Based on Stamford Coal's financial year 2018 results, the net profit before income tax, minority interests and extraordinary items attributable to the sale shares is A$2 million; while the same profit for the shares under the offer is approximately A$3.20 million.
Golden Investments' shareholders will fund their respective subscriptions in Golden Investments through a combination of existing cash reserves, GEAR's finance facility of up to A$150 million and via Ascend Global's undrawn capital commitments of US$100 million from investors.
Source: The Straits Times
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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
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