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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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- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
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- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
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- Meralco Power Generation, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
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- Maheswari Brothers Coal Limited - India
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- New Zealand Coal & Carbon
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- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
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