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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
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- Australian Commodity Traders Exchange
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- Singapore Mercantile Exchange
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- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
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- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
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- Georgia Ports Authority, United States
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- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
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