Comprehensive and Data-Driven Reports, RHT Capital

RHT Capital

Comprehensive and Data-Driven Reports

We are a boutique corporate finance advisory firm based in Singapore, with a focused team of experienced professionals. We advise listed companies and growing enterprises on corporate finance transactions and regulatory matters, providing practical and considered advice tailored to each client’s circumstances. We are a Capital Market Services (“CMS”) license holder from the Monetary Authority of Singapore (“MAS”), and a Full Sponsor approved by the Singapore Exchange (“SGX”).

Equity Bottom-Up

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<li>
<p>Structural cost reset, not a coal-price bet.</p>
</li>
<li>
<p>The MBJ integrated haul road + barging chain (capex ~US$150 mil) removes third-party trucking on TRA coal and takes ~US$7–8/t out of the annual cost base.</p>
</li>
<li>
<p>That is a self-help margin gain that survives a flat coal price.</p>
</li>
</ul>



Structural cost reset, not a coal-price bet.


The MBJ integrated haul road + barging chain (capex ~US$150 mil) removes third-party trucking on TRA coal and takes ~US$7–8/t out of the annual cost base.


That is a self-help margin gain that survives a flat coal price.



Geo Energy: Direct Hormuz Play, Limited by Domestic Reforms

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>We wrote our first insight on <a target="_blank">Geo Energy Resources (GERL SP)</a>, titled <a target="_blank">"Geo Energy Group (GERL SP): The Case For a &gt;30% Yield in FY27-28 </a>," in December 2024. </li>
<li>Fast forward 15 months (and a ~130% share price move), and we recently <a href="https://youtu.be/fAhxfZXeQnI?si=aX4UPfRCzayPYKVN" target="_blank" rel="noopener">hosted a webinar with the company,</a> where we gained valuable insights into its future expansion plans. </li>
<li>Trading at 5x EV-EBITDA, <a href="https://geoenergy.listedcompany.com/newsroom/20260317_173026_RE4_CPMWJD77ZP0CXISE.1.pdf" target="_blank" rel="noopener">based on guidance of 170-200 mn USD at ICI4 prices of 60 USD/ton</a>, the stock is still cheap. </li>
</ul>


We wrote our first insight on Geo Energy Resources (GERL SP), titled "Geo Energy Group (GERL SP): The Case For a &gt;30% Yield in FY27-28 ," in December 2024. 
Fast forward 15 months (and a ~130% share price move), and we recently hosted a webinar with the company, where we gained valuable insights into its future expansion plans. 
Trading at 5x EV-EBITDA, based on guidance of 170-200 mn USD at ICI4 prices of 60 USD/ton, the stock is still cheap. 


Geo Energy Resources (GERL SP): Several Positive Catalysts To Drive Profitability

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<section class="figure">
<section class="figure">
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/504/825/original/engageIR%20Webinar%20banner%20%282%29.png?1755850919" class="editor-image img-responsive" data-smartkarma-image-id="504825"></figure>
<p>Smartkarma hosted the Geo Energy Resources management team and Insight Provider, <a href="https://www.smartkarma.com/profiles/sameer-taneja-a0539e0c-84dd-4e66-9c40-6e598edfb4c5" target="_blank" data-smartkarma-citation="accounts:352" rel="noopener">Sameer Taneja</a>, in an exclusive Corporate Webinar on 30 March '26. They dove into the company's latest results and future growth strategy. </p>
<p>Catch the full discussion below: </p>
<div style="display: flex; justify-content: center; align-items: center;"><iframe src="https://www.youtube.com/embed/fAhxfZXeQnI?si=zX7yg5HsXZBKxStb" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="allowfullscreen"></iframe></div>
<hr>
<p>For our next Corporate Webinar, engageIR by Smartkarma is glad to welcome <a href="https://www.smartkarma.com/entities/geo-energy-resources-ltd" target="_blank" data-smartkarma-citation="entities:8717" rel="noopener">Geo Energy Resources (GERL SP)</a>’s team to Smartkarma. We will be joined by their Group Chief Financial Officer, Adam Tan, and Group Chief Operating Officer, Philip Hendry, along with Smartkarma Insight Provider <a href="https://www.smartkarma.com/profiles/sameer-taneja-a0539e0c-84dd-4e66-9c40-6e598edfb4c5" target="_blank" data-smartkarma-citation="accounts:352" rel="noopener">Sameer Taneja.</a></p>
<p>In the upcoming webinar, the Geo Energy team will share a short company presentation after which they will engage in a fireside chat with Sameer. The Corporate Webinar will include a live Q&amp;A session.</p>
<p>View the transcript here - <a href="https://on.skr.ma/4B7peCn" target="_blank" rel="noopener">on.skr.ma/4B7peCn</a><br>Passcode: bQv94Y?d</p>
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<h3>About Geo Energy Resources</h3>
<p>Geo Energy Resources is a leading Indonesian energy group with a successful track record spanning more than 15 years. The Group’s growth strategy is anchored on three key segments:</p>
<ul>
<li>Coal mining: The primary growth driver with low-ash and low-sulphur thermal coal.</li>
<li>Road and jetty infrastructure: Providing a streamlined and cost-effective<br>logistical solution to the Group and third-party users.</li>
<li>Marine logistics: Supports the increased transshipment requirements for the<br>Group’s coal production and enhancing overall operational and cost efficiency.</li>
</ul>
<p>For more information on Geo Energy Resources please visit <a href="https://www.geocoal.com/" target="_blank" rel="noopener">https://www.geocoal.com/</a><br><br><iframe src="//www.youtube.com/embed/D6S0EABazyc" width="640" height="360"></iframe></p>
</section>




Smartkarma hosted the Geo Energy Resources management team and Insight Provider, Sameer Taneja, in an exclusive Corporate Webinar on 30 March '26. They dove into the company's latest results and future growth strategy. 
Catch the full discussion below: 


For our next Corporate Webinar, engageIR by Smartkarma is glad to welcome Geo Energy Resources (GERL SP)’s team to Smartkarma. We will be joined by their Group Chief Financial Officer, Adam Tan, and Group Chief Operating Officer, Philip Hendry, along with Smartkarma Insight Provider Sameer Taneja.
In the upcoming webinar, the Geo Energy team will share a short company presentation after which they will engage in a fireside chat with Sameer. The Corporate Webinar will include a live Q&amp;A session.
View the transcript here - on.skr.ma/4B7peCn Passcode: bQv94Y?d

About Geo Energy Resources
Geo Energy Resources is a leading Indonesian energy group with a successful track record spanning more than 15 years. The Group’s growth strategy is anchored on three key segments:

Coal mining: The primary growth driver with low-ash and low-sulphur thermal coal.
Road and jetty infrastructure: Providing a streamlined and cost-effective logistical solution to the Group and third-party users.
Marine logistics: Supports the increased transshipment requirements for the Group’s coal production and enhancing overall operational and cost efficiency.

For more information on Geo Energy Resources please visit https://www.geocoal.com/  


Smartkarma Corporate Webinar | Geo Energy: Rising Coal Prices And Infrastructure Advantage

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>Lim &amp; Tan rates Uni-Asia a "buy" at $1.39 for shipping and real estate.</li><li>Koh of UOBKH keeps $1.16 target price for UI Boustead REIT.</li><li>UOBKH maintains 'buy' on Reclaims Global after strong 1HFY2027 results.</li></ul>

Lim &amp; Tan rates Uni-Asia a "buy" at $1.39 for shipping and real estate.Koh of UOBKH keeps $1.16 target price for UI Boustead REIT.UOBKH maintains 'buy' on Reclaims Global after strong 1HFY2027 results.

Singapore Market Roundup (29-Sep-2026): Lim & Tan rates Uni-Asia a "buy" at $1.39.

<ul><li>UOBKH's Koh keeps target price at $1.16 for UI Boustead REIT.</li><li>UOBKH maintains 'buy' on Reclaims Global due to strong 1HFY2027 results.</li><li>Geo Energy anticipates a significant rise in net profit for 3QFY2026 and FY2026.</li></ul>

UOBKH's Koh keeps target price at $1.16 for UI Boustead REIT.UOBKH maintains 'buy' on Reclaims Global due to strong 1HFY2027 results.Geo Energy anticipates a significant rise in net profit for 3QFY2026 and FY2026.

Singapore Market Roundup (28-Sep-2026): UOBKH's Koh maintains $1.16 target price for UI Boustead

Singapore

Geo Energy Resources is an established coal mining group operating in Indonesia, focusing on low-cost production of premium coal with low-ash and low-sulphur characteristics. The company's core activities include owning and operating coal mines, providing mining contracting services, and trading coal. Headquartered in Singapore, the company was established in 2008.

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Geo Energy Resources (GERL SP)

Geo Energy: Direct Hormuz Play, Limited by Domestic Reforms

Structural cost reset, not a coal-price bet. The MBJ integrated haul road + barging chain (capex ~US$150 mil) removes third-party trucking on...

RHT Capital