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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Planning Commission, India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
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