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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
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