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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- White Energy Company Limited
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
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