SGX-listed Golden Energy Resources Ltd (GEAR), controlled by Sinarmas Group, booked net profit of US$62.95 million last year, skyrocketed 186% from 2016, thanks to stronger price of thermal coal. Combined with its ownership in Berau Coal Energy (BRAU), Sinarmas Group is currently third largest coal producer in Indonesia behind Bumi Resources (BUMI) and Adaro Energy (ADRO), and ahead of Indika Energy (INDY).To subscribe please click here