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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, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Eastern Energy - Thailand
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Planning Commission, India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
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