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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the local market with an initial public offering in the first half of 2012.
The company plans to make the IPO in April or May, said Luhut Pandjaitan, president commissioner of the company. The specific terms of the IPO were not made clear.
“I am not allowed to disclose details yet, but we are aiming at similar proceeds as Harum Energy had in its IPO in 2010,” he said on Tuesday, naming one of Indonesia’s leading listed coal miners.
Harum Energy raised Rp 3.38 trillion ($375 million) by selling 2.7 billion shares in a September 2010 IPO. Harum Energy’s was the third-biggest IPO last year, after Borneo Lumbung Energy & Metal, which raised Rp 5.2 trillion in November 2010, and Indofood CBP Sukses Makmur, which raised Rp 6.2 trillion in September of the same year.
Toba Sejahtra, the miner’s holding company, has four business divisions: coal and mining, oil and gas, power generation, and agriculture and forestry.
Toba Sejahtra was founded in 2004 by a group of military veterans led by Luhut, who briefly held the role of the country’s minister of industry and trade in 2010.
Proceeds from the IPO will be used for capital expenditures related to business expansion, such as increasing the production capacity of the company’s mining sites, Luhut said.
He said Toba Bara Sejahtra had three coal mining subsidiaries in Kalimantan. Its production capacity this year is estimated to reach up to 7 million tons, up from about 4 million tons last year. Toba Bara aims to produce 11 million to 12 million tons of coal next year and has 350 million tons in coal reserves, Luhut said.
“Initially we aimed to do the listing this December but [postponed] for a few considerations, including the global market condition,” he said. “Raising funds is not the top priority for us now, because we have a very solid financial condition.”
Toba Bara Sejahtra also has set aside $700 million to buy a 58.8 percent stake in Indonesia Asahan Aluminium (Inalum), according to Bambang Irawan, a director at the company. He said Toba Sejahtra would bid for the stake along with a consortium of regional governments surrounding Inalum’s mining site in North Sumatra.
Last week, the head of the Government Investment Center (PIP) said it had set aside Rp 2 trillion to buy a majority stake in the aluminum miner from the current majority owner, Japan’s Nippon Asahan Aluminium.
It was not immediately clear what Inalum’s shareholder breakdown would look like.
Source: The Jakarta Globe
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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Bhatia International Limited - India
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- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
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- PTC India Limited - India
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- The University of Queensland
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- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
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- Australian Coal Association
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- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
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- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
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- Jorong Barutama Greston.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
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- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
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- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
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- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
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- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
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