SINGAPORE - Media OutReach - 2 December2020 - Enterprise Asia is pleased to present an impressive list ofsixty-one outstanding award recipients at the AsiaPacific Enterprise Awards (APEA) 2020 Regional Edition. These leadingfigures have set and proven themselves consistent and exceptional entrepreneurial spirit in going above and beyond expectationsduring this unprecedented year.

Established in 2007, APEA recognises outstanding entrepreneurs and organisationrepresenting the best the industry has to offer. An initiative by EnterpriseAsia, the region's leading NGO, APEA is the largest regional recognitionprogram, with over 3,000 nominations received each year, and less thanone-tenth of that receiving the awards in all 14 markets. 

This year, Enterprise Asia hasrebranded its flagship program -- APEA, from Asia Pacific EntrepreneurshipAwards to Asia Pacific Enterprise Awards with two additional enterpriseawarding categories - Inspirational Brand Award and Fast Enterprise Award inbid to further recognise championing enterprises in strongreputation and thriving growth. This brings APEA to a total of four awardingcategories -- Master Entrepreneur, Corporate Excellence, Inspirational Brand,and Fast Enterprise.

Due to the impact of the pandemic, APEA2020 Regional Edition was commenced virtually on 20 November 2020 with thetheme of 'Accelerating Growth BeyondBorders'.  The theme objective is to unlock boundariesand shifting businesses to move beyond adaption and lead with impact. The APEAhas gathered distinguished business leaders and organisations across 14 countries and markets into one unparalleled platformin fostering the continuity of sustainable entrepreneur growth in Asia.

Company Introduction

Geo Energy is a Mining& Energy group listed on the Mainboard of the SGX and is part of theSingapore FTSE-ST index. From a relatively small-scale mining servicesprovider, the Group has transformed itself into a low-cost coal producer withhigh-quality mining assets today. Geo Energy also collaborates with the biggestpartners in the industry, such as PT Bukit Makmur Mandiri Utama (BUMA), one of the largest mining contractors in Indonesia, and internationalcommodity traders such as Trafigura and Macquarie Bank.

Geo Energy produces low-ash, low-sulphur coal that is not onlyeco-friendly, but also has a high demand for blending purposes. The coal isneeded as a cheap source of energy in many developing countries in Asia, andalso helps mitigate environmental impact due to its cleaner coalspecifications. The Group sells its coal to Indonesia and China, South Korea,Thailand, India and the Philippines. This is in line with Geo Energy's visionin setting the pace to run its business with corporate social responsibilityconcepts firmly embedded within daily operations to protect the people, theenvironment and the communities, and the Group's commitment to sustainablegrowth and enhancing shareholders value.

CorporateCulture

Geo Energy believes in setting the right culture from the first step, byprioritising the safety, health and well-being of its workforce and communities. This is the principal reason thatthe Group has maintained zero cases of corruption and bribery, as well asachieved zero fatalities and work-related injuries. To give back to the societyand community, Geo Energy has provided jobs and built schools to give betteropportunities to the locals. In addition, the Group is committed to post-miningreclamation as the cornerstone of good environmental management in its industry.Geo Energy provides bursary scholarships for university students through itspartnership with Singapore Institute of Technology and has regularlyparticipated in and sponsored the annual Run for Hope organised by the Singapore Cancer Society. In view of the COVID-19 outbreak, theGroup also provided medical aids and supplies in Indonesia and Singapore. GeoEnergy believes in creating a conducive environment for employees to worktogether, providing them with ample opportunities to grow in their careers,organising activities for their holistic well-being andrewarding them fairly based on their work performance.

Achievements and Impact

In 2015, the Grouptransformed its business model and completed the acquisition of the SDJ coalmine, commencing full operations the following year and achieving a revenue ofUS$182.1 million in 2016. In 2017, the Group acquired its second mine, TBR, neardoubling its coal reserves and targeted annual production rate. The Groupachieved a CAGR of 154% from 2015-2018 before coal prices became depressed in2019 and 2020. Despite the difficult coal price environment, the Group manageda strong performance in 1H2020 by reducing its cost base in 2Q2020 by 29% fromthe average cost in 2019 and achieving record sales and production volumes of 5million tonnes. Based on the annualised sales of 10 milliontonnes, this is an implied 81% growth from 2016 when it commenced its firstcoal sales from the SDJ coal mine.TheGroup continues to be an upward trajectory for growth, targeting coal sales of10-12 million tonnes in the coming years.

In 2017, Geo Energyembarked on roadshows in Hong Kong, Singapore, London, New York and Boston forthe issuance of US$300 million Senior Notes. The issuance, which wasoversubscribed by more than 3 times or US$1.2 billion, increased Geo Energy'sinternational profile as numerous multi-billion dollar funds invested in it.Following the COVID-19 crisis, the Group optimised its capital structure and reduced its gearing by 78%, through a seriesof repurchases totaling US$241 million of its Senior Notes in 10 months fromDecember 2019 to September 2020. This reduced its annual interest by 80% fromUS$24 million to US$4.7 million. The Group signed on Life of Mine coal offtakeagreements and prepayment facility agreements with world-class internationaltraders. The offtake with these international traders brought strong strategicpartners for the Group and broadened its reach in the international market.Macquarie Bank also came in as an equity partner for Geo Energy.

The Group has received recognition for its performance and corporateexcellence for corporate transparencies, ESG practices, investor relationships,Singapore fastest growing companies. Theseawards are a testament to its corporate excellence.

Future Direction

Geo Energy constantlyseeks out acquisitions of mining concessions to increase production quantityand at the same time, diversify the sources of its coal. The Group also looksfor other means to expand its revenue streams by way of potential jointventures and trading of third party coal. The Group will continue to work tostrengthen its core earnings through opportunities to emerge as one of the topIndonesian integrated Mining Groups andbolster the innovative strength of the people and build a resilient company.

About Enterprise Asia

EnterpriseAsia is a non-governmental organisation in pursuit of creating an Asia that isrich in entrepreneurship as an engine towards sustainable and progressiveeconomic and social development within a world of economic equality. Its twopillars of existence are investment in people and responsible entrepreneurship.Enterprise Asia works with governments, NGOs and other organisations to promotecompetitiveness and entrepreneurial development, in uplifting the economicstatus of people across Asia and in ensuring a legacy of hope, innovation andcourage for the future generation. For further information, visit www.enterpriseasia.org.

About Asia Pacific Enterprise Awards

Launched in 2007, the Asia PacificEnterprise Awards is the region's most prestigious awards for outstandingentrepreneurship, continuous innovation and sustainable leadership. The Awardprovides a platform for companies and governments to recognise entrepreneurialexcellence, hence spurring greater innovation, fair business practices andgrowth in entrepreneurship. As a regional award, it groups together leadingentrepreneurs as a powerful voice for entrepreneurship and serves as aby-invitation only networking powerhouse. The program has grown to encompass 14countries and markets all over Asia. For more information, visit: www.apea.asia