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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$1 equals Rp8,865)
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
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