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