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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
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