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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
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