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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
 Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equity investor, Tembusu Partners Pte Ltd (“Tembusu”), an investment of US$ 7.5 million out of the US$ 20 million investment underwritten in January 2014 by The Islamic Bank of Asia (“IB Asia”).
With a proven track record of investing in growth companies across Asia, Tembusu seeks to complement IB Asia to extend its expertise and network to accelerate PMCR’s business growth. PMCR is the eighth investment made under Tembusu’s Growth Fund II.
PMCR’s Kalimantan mines have a resource base of approximately 500 million metric tonnes (“MT”) (JORC-certified) and plans to ramp up production to approximately 5 million MT per year within the next three years in preparation for an eventual IPO.
Singapore-registered PMCR, backed and managed by the Sindhu family – which owns leading India-based coal, logistics and power player Sainik-Aryan Group – has invested over US$ 50 million to date to develop the Indonesian coal assets and infrastructure and expand production.
Leveraging on the fast-growing energy requirements across Asia and the management’s rich experience in the coal mining, logistics and power generation business, PMRC has secured offtake arrangements with Indonesian and Indian clients.
Mr. Dev Sindhu, Chief Executive Officer of PMCR, said, “The backing of IB Asia and Tembusu – two reputable Singapore institutions – validates PMCR’s business strategy amidst rising interest in the Indonesian coal sector. We endeavour to develop PMCR as an integrated player in the coal mining sector, focusing on developing a complete solution for all services, from pit to port, under one umbrella. Our integrated service model and direct linkages with end-users ensure the viability and sustainability of its business which will in turn create and enhance value for all stakeholders.”
Mr. Harish Parameswar, Managing Director of IB Asia, said, “As a merchant bank focused on private equity and investment banking, IB Asia is working with key business partners to bridge opportunities in the India-Singapore-Indonesia growth triangle.”
Mr. Andy Lim, Founder and Chairman of Tembusu, said, “As a pan-Asian fund backing fast growing entrepreneurial companies, Tembusu looks forward to partnering IB Asia and the management team in building PMCR as a leading integrated platform connecting Indonesia’s vast coal resource base and India’s fast growing energy needs, with a view to IPO in an attractive Asian listing location such as Singapore.”
Source: Tembusu Partners Pte Ltd
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
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