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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$1 equals Rp8,865)
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- PTC India Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
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