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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$1 equals Rp8,865)
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Sojitz Corporation - Japan
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- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
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- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
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- PTC India Limited - India
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- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- London Commodity Brokers - England
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- Independent Power Producers Association of India
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- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- White Energy Company Limited
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- Trasteel International SA, Italy
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
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- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
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- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Meralco Power Generation, Philippines
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