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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- CNBM International Corporation - China
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- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
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- Economic Council, Georgia
- Indian Oil Corporation Limited
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- Ministry of Finance - Indonesia
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- Directorate Of Revenue Intelligence - India
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- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Meralco Power Generation, Philippines
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- Central Electricity Authority - India
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- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Australian Coal Association
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- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
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- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
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- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
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- Metalloyd Limited - United Kingdom
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- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
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- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
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- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
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- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
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- Africa Commodities Group - South Africa
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