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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$100 million from investors.
Source: The Straits Times
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- CNBM International Corporation - China
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
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