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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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Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
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- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
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- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
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- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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