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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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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Showing 5216 to 5220 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
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