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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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- Bahari Cakrawala Sebuku - Indonesia
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- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
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