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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Goldman Sachs - Singapore
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- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- GMR Energy Limited - India
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- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
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- Indian Energy Exchange, India
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- Vedanta Resources Plc - India
- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
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- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
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