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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 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
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