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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$1 equals Rp8,865)
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Sarangani Energy Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
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- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
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- Bhushan Steel Limited - India
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- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
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- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
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- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
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- Electricity Generating Authority of Thailand
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- Rashtriya Ispat Nigam Limited - India
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- Ministry of Mines - Canada
- Bangladesh Power Developement Board
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- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
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- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
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- Economic Council, Georgia
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- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
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- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
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- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
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- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
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- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
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- Lanco Infratech Ltd - India
- Australian Coal Association
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- Uttam Galva Steels Limited - India
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- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
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- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
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- Parliament of New Zealand
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- Indonesian Coal Mining Association
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