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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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