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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
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