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