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Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
 PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug boat and barge operator PT Mitrabahtera Segara Sejati Tbk (MBSS) at Rp1,630 (0.183 USD) per share, said Insider Stories.
Retina Rosabai, Indika's Head of Investor Relations, confirmed that Indika has exercised the option at Rp1,630 (0.183 USD) per share, entitling the company with 51% stake ownership or 892.51 million shares in Mitrabahtera which initiated its trading debut at Indonesia Stock Exchange today, as qouted by Insider Stories.
Referring to the exercise price, Indika has spent Rp1.45 trillion (US$ 163,564,579.81) to acquire Mitrabahtera, a company which was controlled by Prasatya family.
Ingrid Ade Sundari Prasatya and Patricia Pratiwi Suwati Prasatya were both controlling share holders in MBSS with 15.4% shareholding each. PT Patin Resources previously also controlled 56.2% stake in MBSS.
MBSS enrolled Indonesian logistics markets as a family company led by Francesca Hadinata and Bing Prasatya in 1993.
As of September 30 2010, MBSS owned 51 tug boats, 47 barges, and 4 floating cranes. The company is underway to construct a new floating crane scheduled to be commercially operated in February this year. Patricia Prasatya, with support of Jon Vassella, is in charge of the day-to-day running of the company and business development.
Patin Resources, Ingrid Prasatya, and Patricia Prasatya, acting as sellers, entered into an option agreement with PT Indika Energy Tbk (INDY), controlled by Indonesian billionaire Agus Lasmono Sudwikatmono, son of Indonesian tycoon Sudwikatmono who just passed away, and Wiwoho Basuki Tjokronegoro, on November 26 2010.
Accion Capital
On June 14 2010, MBSS also entered into an investment agreement with Accion Capital Management Pte Ltd (ACM) for convertible loan with principal amount of US$5 million in which ACM acts as investor agent and Accion Asia Growth Fund as newly investor.
Under the agreement, when MBSS has listed shares at IDX, each investor must convert the loan into new shares of MBSS with condition the market capitalization is above US$300 million or Rp2.66 trillion (assuming US$1 equals Rp8,865).
If MBSS's market capitalization is below US$300 million, investors will not obliged to convert the loan into new shares until July 8 2013. With US$300 million capitalization, MBSS's per share equals Rp1,485. By selling 12.5% new shares via IPO, MBSS is targeting about Rp327 billion (US$ 36,886,632.83) cash.
In the first day trading, MBSS jumped 11.25% to Rp1,780 per share from the IPO level at Rp1,600 (US$ 0.180). Today's closing price equaled to US$358 million market capitalization.
Under the investment agreement, each holder of convertible loan must convert the loan into new shares of MBSS. (assuming US$1 equals Rp8,865)
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- TeaM Sual Corporation - Philippines
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- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
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- Independent Power Producers Association of India
- SMC Global Power, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
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- Economic Council, Georgia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
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- GN Power Mariveles Coal Plant, Philippines
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- Chamber of Mines of South Africa
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- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
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- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
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- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
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- Bayan Resources Tbk. - Indonesia
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- Australian Commodity Traders Exchange
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