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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
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