Samudera Energy

http://www.todayonline.com/business/samu...gapore-ipo

Samudra Energy tapping investors for Singapore IPO
PUBLISHED: 9:44 PM, JULY 9, 2014
SINGAPORE – Samudra Energy, which owns oil and gas exploration interests in Indonesia, is seeking to raise US$200 million (S$248 million) to US$250 million in an initial public offering (IPO) in Singapore, IFR reported on Wednesday.

The company has begun “pre-marketing”, which will continue for two weeks, while book-building for the deal is expected to start in late July or early August, IFR said.

Samudra Energy is part of private equity firm Northstar Group, which focuses on Indonesia and Southeast Asia.

The company could not be immediately reached for comment, while an external spokesman for Northstar declined to comment.

Credit Suisse and Nomura are the joint global co-ordinators and bookrunners with CIMB, IFR reported.

The listing plan comes after Singapore’s IPO market saw its slowest start to a year since the first half of 2012.

Just six companies were listed from January until June 20, fewer than Thailand and Bangladesh which have had nine each, and far behind Hong Kong which has had 30, according to Thomson Reuters data. REUTERS

http://www.straitstimes.com/news/busines...o-20140725

Samudra Energy looks to raise up to $276m in Singapore IPO
Published on Jul 25, 2014 9:27 AM
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(Reuters) - Samudra Energy, which owns gas and oil interests in Indonesia, is seeking to raise $248 million to $276.3 million in an initial public offering in Singapore, according to a term sheet seen by Reuters.

The deal is a sign of some revival in Singapore's IPO market, which in January-June saw the slowest start to a year in terms of amounts raised since the first half of 2012.

On Thursday, Accordia Golf Trust, backed by golf courses in Japan, said it would raise about $612 million in a stock market listing in Singapore after pricing the sale at $0.97 a unit, the lower end of an earlier indicative price range.

Samudra is selling about 131 million shares, excluding the greenshoe option, at an indicative price range of $1.89 to $2.11 a share, the term sheet said.

Ka-shing, Kuok and Quek in Samudra Energy IPO

BILLIONAIRES Li Ka-shing, Robert Kuok and Tan Sri Quek Leng Chan, along with savvy investor Paul Poh will make up an all-star list of shareholders in an upcoming flotation of Indonesian oil and gas producer Samudra Energy Ltd on the Singapore Stock Exchange (SGX).

Samudra, which released its prospectus on Thursday, has three oil producing assets in South Sumatra and is seeking to raise between S$248mil (RM635mil) and S$276.3mil (RM706mil), largely to retire debts, a move which would nudge the company towards profitability.

Li, Quek and Poh are cornerstone investors in Samudra’s planned IPO, while Kuok’s Kerry Group is an early investor in the company, holding 21.9%.

The largest shareholder in Samudra is Indonesian focused private equity firm Northstar Group, which is now part of US-based TPG Capital.

Quek and Poh, via GuoLine Capital and Caprice Capital respectively, are part of four cornerstone investors in Samudra.

It is understood that Quek and Poh’s subscription of Samudra shares will see them owning just under 10% of Samudra’s enlarged shareholding base.

Hong-Kong’s Li via Sky Trinity Investments, a subsidiary of Hutchison Whampoa, and fund manager OCP Asia are the other two cornerstone investors.

This is possibly the first time that the Malaysian-born tycoons Kuok and Quek will be substantial shareholders in a listed company. The presence of Hong Kong’s Li adds even more star value to Samudra’s shareholder list. Insiders say it is co-incidental that these big names appear as Samudra Energy’s shareholders.

Li ranks as the 15th richest person in the world by Forbes, while Kuok, who is Malaysia’s top billionaire, is in position 104 globally. Quek is Malaysia’s fourth richest, going by the Forbes list.

Quek whose main stay is in banking and property under the Hong Leong group of companies, has been active in oil and gas investments. In May 2013, Quek bought into TH Heavy Engineering Bhd, surfacing with a 9.1% stake after a private placement at 45 sen per share. That investment has more than doubled in value.

Quek then teamed up with his associate Poh to make joint investments in Scomi Energy Services Bhd and Alam Maritim Resources Bhd, both key oil and gas service providers in Malaysia. In mid-April, Quek also bought 100 million shares in SGX-listed Ezion, the largest lift boat owner in the world.

Poh, a former long-serving employee of the Hong Leong Group, is increasingly making a name for himself as an active and savvy investor.

Poh’s Caprice Capital was a cornerstone investor in last year’s mega IPO of UMW Oil and Gas Corp Bhd. Caprice has also made investments with Creador Sdn Bhd, the private equity fund helmed by Brahmal Vasudevan, into companies such as Bonia Corp Bhd and MNC Sky Vision, Indonesia’s largest pay-TV operator.

Poh is also a cornerstone investor in soon-to-be-listed Reach Energy Bhd, the fourth and largest special purpose acquisition company (SPAC).

According to Samudra’s prospectus, the company has a production level of 2,409 barrels of oil per day, which would make it the fourth largest producer of hydrocarbons listed on SGX.

It says it has proven oil reserves of 49 million barrels of oil equivalent (mmboe) and contingent reserves of 39.3 mmboe.

Samudra has three producing assets, one in development stage and another four exploration assets. It says the operating cash flow from the producing assets “reduces the financing risk of development, appraisal and exploration operations”.

In 2013, Samudra reported revenues of US$54.2mil (RM172mil), earnings before interest, tax, depreciation and amortisation of US$13mil (RM41.3mil) and a net loss of US$33.6mil (RM107mil).

http://www.thestar.com.my/Business/Busin...nergy-IPO/

http://www.financeasia.com/News/388925,s...e-ipo.aspx

(26-07-2014, 04:44 PM)ahyeh Wrote: Ka-shing, Kuok and Quek in Samudra Energy IPO

BILLIONAIRES Li Ka-shing, Robert Kuok and Tan Sri Quek Leng Chan, along with savvy investor Paul Poh will make up an all-star list of shareholders in an upcoming flotation of Indonesian oil and gas producer Samudra Energy Ltd on the Singapore Stock Exchange (SGX).

Samudra, which released its prospectus on Thursday, has three oil producing assets in South Sumatra and is seeking to raise between S$248mil (RM635mil) and S$276.3mil (RM706mil), largely to retire debts, a move which would nudge the company towards profitability.

Li, Quek and Poh are cornerstone investors in Samudra’s planned IPO, while Kuok’s Kerry Group is an early investor in the company, holding 21.9%.

The largest shareholder in Samudra is Indonesian focused private equity firm Northstar Group, which is now part of US-based TPG Capital.

Quek and Poh, via GuoLine Capital and Caprice Capital respectively, are part of four cornerstone investors in Samudra.

It is understood that Quek and Poh’s subscription of Samudra shares will see them owning just under 10% of Samudra’s enlarged shareholding base.

Hong-Kong’s Li via Sky Trinity Investments, a subsidiary of Hutchison Whampoa, and fund manager OCP Asia are the other two cornerstone investors.

This is possibly the first time that the Malaysian-born tycoons Kuok and Quek will be substantial shareholders in a listed company. The presence of Hong Kong’s Li adds even more star value to Samudra’s shareholder list. Insiders say it is co-incidental that these big names appear as Samudra Energy’s shareholders.

Li ranks as the 15th richest person in the world by Forbes, while Kuok, who is Malaysia’s top billionaire, is in position 104 globally. Quek is Malaysia’s fourth richest, going by the Forbes list.

Quek whose main stay is in banking and property under the Hong Leong group of companies, has been active in oil and gas investments. In May 2013, Quek bought into TH Heavy Engineering Bhd, surfacing with a 9.1% stake after a private placement at 45 sen per share. That investment has more than doubled in value.

Quek then teamed up with his associate Poh to make joint investments in Scomi Energy Services Bhd and Alam Maritim Resources Bhd, both key oil and gas service providers in Malaysia. In mid-April, Quek also bought 100 million shares in SGX-listed Ezion, the largest lift boat owner in the world.

Poh, a former long-serving employee of the Hong Leong Group, is increasingly making a name for himself as an active and savvy investor.

Poh’s Caprice Capital was a cornerstone investor in last year’s mega IPO of UMW Oil and Gas Corp Bhd. Caprice has also made investments with Creador Sdn Bhd, the private equity fund helmed by Brahmal Vasudevan, into companies such as Bonia Corp Bhd and MNC Sky Vision, Indonesia’s largest pay-TV operator.

Poh is also a cornerstone investor in soon-to-be-listed Reach Energy Bhd, the fourth and largest special purpose acquisition company (SPAC).

According to Samudra’s prospectus, the company has a production level of 2,409 barrels of oil per day, which would make it the fourth largest producer of hydrocarbons listed on SGX.

It says it has proven oil reserves of 49 million barrels of oil equivalent (mmboe) and contingent reserves of 39.3 mmboe.

Samudra has three producing assets, one in development stage and another four exploration assets. It says the operating cash flow from the producing assets “reduces the financing risk of development, appraisal and exploration operations”.

In 2013, Samudra reported revenues of US$54.2mil (RM172mil), earnings before interest, tax, depreciation and amortisation of US$13mil (RM41.3mil) and a net loss of US$33.6mil (RM107mil).

http://www.thestar.com.my/Business/Busin...nergy-IPO/

guess this is better than KrisEnergy. At least have production fields.
But 2000+ bpd of oil a lot meh?? Some more must pump gas to extract oil.

dont know can Tikam or not?

Tikam sure can but can get or not is another question...

KS involved as Hutch owned Husky holds a 40% stake in a field that Samudera owns 20% - face issue if they are not part of the cornerstone...

(27-07-2014, 02:49 PM)opmi Wrote: guess this is better than KrisEnergy. At least have production fields.
But 2000+ bpd of oil a lot meh?? Some more must pump gas to extract oil.

dont know can Tikam or not?

BILLIONAIRES Li Ka-shing, Robert Kuok and Tan Sri Quek Leng Chan = S$276.3 milo??

har? figures does not make sense... we got 3 billionaires to raise < S$300 milo??
This is small change to ANY SINGLE one of them!!

I prefer to stay away in this case...

Paul is riding on the Energy play to cash-out for the 3 billionaires!

For short-term punters, ipo, cash out @ +25% kopi $!

http://www.businesstimes.com.sg/premium/...d-20140807

PUBLISHED AUGUST 07, 2014
Samudra Energy pulls IPO, reasons clouded
While company blames market volatility, observers cite company-related factors
BYANDREA SOH
sandrea@sph.com.sg @AndreaSohBT

Global market uncertainty and concerns over a share-price drop after listing have prompted Samudra Energy to pull the plug on its initial public offering, though others point to more company- specific factors - PHOTO: SAMUDRA ENERGY
[SINGAPORE] Global market uncertainty and concerns over a share-price drop after listing have prompted Samudra Energy to pull the plug on its initial public offering, though others point to more company- specific factors.
"Given the current market volatility, we think that now is not the optimal time for Samudra Energy to move forward with an IPO," said its CEO and executive director Ridwan Rusli. "It was a collective decision on timing by the company and its sponsors with a view towards ensuring a strong after-market performance and thus the most successful IPO possible for all stakeholders and investors."
The decision by Samudra, which would have otherwise become the largest South-east Asian energy group on the Singapore Exchange (SGX), also puts a dampener on the local IPO market that had just been revving up after a tepid first half of the year.
SGX has seen a burst of IPO activity since July, with three listings taking place on the mainboard and four on Catalist, raising S$1.3 billion and notching up S$3.4 billion in market value.
This compares with two mainboard and six Catalist listings that raised S$886.5 million and added S$4.1 billion in market capitalisation in H1.
But not all have performed well. Accordia Golf Trust sank as much as 17.5 per cent in its trading debut last Friday, though it eventually recovered to close at 85 Singapore cents - still down 12.4 per cent from its IPO price of 97 Sing cents.
Global equity markets have turned jittery in recent weeks over news of the bailout of a major Portuguese bank, Argentina's debt default and rising tensions in the Russia-Ukraine crisis.
It remains to be seen if other upcoming IPOs such as IReit Global Group - set to be the first Reit here with office assets in Germany - and Indonesian meat and dairy producer Japfa will be affected, with bankers saying that Samudra's decision was probably due more to company-specific factors than market developments.
"I don't think those are a major factor unless you're directly impacted through assets or business in that part of the world," an investment banker told BT. "I think it's got to do with the fact that it was in a sector that was not well understood and the only one other precedent, KrisEnergy, has seen quite a fall in its price."
Capital markets publication IFR reported that some investors had started pulling out of orders towards the end of Samudra's bookbuilding period, although the IPO books were covered.
Samudra owns eight upstream assets, comprising three oil-producing blocks in South Sumatra, an asset in development stage and four exploration assets. It has proven oil reserves of 49 million barrels of oil equivalent (mmboe) and contingent reserves of 39.3 mmboe, and last year reported revenues of US$54.2 million and a net loss of US$33.6 million.
KrisEnergy, which held a successful IPO in July last year, has slightly less proven reserves of 32.3 mmboe but more contingent reserves of 53.9 mmboe. Its shares are down 41 per cent so far this year, after plunging in January when the firm said it had plugged and abandoned an exploration well in a promising Vietnamese prospect.
Samudra did not disclose the offer price and number of shares offered in its prospectus filed on July 24, but Reuters, citing a term sheet it saw, reported on the same day that it was looking to sell about 131 million shares, excluding the greenshoe option, at an indicative price range of S$1.89-2.11 a share, to raise S$248-276.3 million.
The listing was scheduled for next Thursday, FinanceAsia reported.
Samudra had said it intended to use the funds raised to settle its term loan and lender warrants of last year - in order to lower its borrowing costs and push towards profitability - as well as to finance planned capital expenditure and for general working capital.
The planned IPO had a star-studded cast of cornerstone investors who had reportedly agreed to take up a separate 45.1 million shares of its offering: Hong Kong billionaire Li Ka- shing, through Hutchison Whampoa unit Sky Trinity; Malaysian tycoon Quek Leng Chan, through Hong Leong Company (Malaysia)'s subsidiary Guoline Capital; and Mr Quek's associate Paul Poh, through private equity firm Caprice Capital International. Hedge fund OCP Asia was also another cornerstone investor, while Robert Kuok's Kerry Group is an early investor in the company, holding 21.9 per cent.
But these high-net- worth investors have no sway over institutional investors, said the banker BT spoke to.
"In terms of guiding institutions and investors who have sophisticated methodology, I think those people would not be necessarily influenced nor easily draw any confidence from these names. Having an institutional cornerstone would probably carry a bit more weight."
Samudra is part of private equity firm Northstar Group, which focuses on Indonesia and South-east Asia, and counts US private equity firm TPG Capital as a shareholder.
Credit Suisse and Nomura are the joint global coordinators and bookrunners with CIMB.

"While company blames market volatility, observers cite company-related factors". sniggles!

Pulled IPO, Now this is even worst...

BILLIONAIRES Li Ka-shing, Robert Kuok and Tan Sri Quek Leng Chan, 1+1+1= 3 BILLIONAIRES, is now NOT EVEN worth S$276.3 milo.... haha!

What a mess this has turn out to be!