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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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