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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Planning Commission, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
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