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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
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