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