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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
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- Aboitiz Power Corporation - Philippines
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- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
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- Tata Chemicals Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Economic Council, Georgia
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- Sarangani Energy Corporation, Philippines
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- CNBM International Corporation - China
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- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
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- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
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- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
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- New Zealand Coal & Carbon
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- White Energy Company Limited
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
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- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
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- Bulk Trading Sa - Switzerland
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- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
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- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
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