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