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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$1 equals Rp8,865)
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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