We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
|
|
|
Showing 5181 to 5185 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Agrawal Coal Company - India
- The University of Queensland
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
|
| |
| |
|
