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10 GEO ENERGY RESOURCES LIMITED | Annual Report 2012
To our valued shareholders, I would like to convey my
sincerest appreciation for your continued support in our
Group. Whilst our operations are based in Indonesia, we
have and will continue to maintain a strong presence here
in Singapore and ensure that shareholder communication
remains at an optimum.
Last but not least, to my fellow Board members, your
leadership and knowledge imparted to the Group has been
invaluable in the lead up to our successful listing and good
performance.
Geo Energy will continue to strive, as a collective whole, to
unlock further value for our shareholders once again in the
upcoming year.
What Lies Ahead
While the Group continues to search actively for mining
concession sites and contracts to complement our growth,
we will strive to execute the existing contracts on hand with
timely precision and efficiency.
News reports coming from China and India, where
traditionally most of the end users of our coal originate,
also gives us reason to be positive.
mr Charles Antonny Melati
Executive Chairman
China continues to push for greater growth and with coal
consumption at 4.05 billion tonnes(1) in 2012, of which 227
million tonnes was imported(2) ; this number looks set to
grow in the near future.
Meanwhile, in India, the world’s fourth-biggest importer
of thermal coal is struggling to meet demand from power
producers. This will cause imports to rise to around 110
million tonnes within the next couple of years(3) .
The Group is quietly optimistic that with a steady operational
team and astute leadership provided by the Board, we will
be able to grow the Group from strength to strength in the
coming years.
Source:
(1) http://www.forbes.com/sites/kenrapoza/2013/02/10/is-china-slowly-giving-up-on-
coal/
(2) http://www.smh.com.au/business/mining-and-resources/too-late-for-china-to-cap-
coal-use-at-4b-tonnes-20130206-2dy8k.html
(3) http://www.reuters.com/article/2013/02/19/india-coal-imports-idUSL4N0B-
J3R520130219