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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$1 equals Rp8,865)
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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
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