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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
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- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
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- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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