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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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Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
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