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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$1 equals Rp8,865)
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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
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