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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- The University of Queensland
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
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