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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
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