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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Global Green Power PLC Corporation, Philippines
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- Tata Chemicals Ltd - India
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- PTC India Limited - India
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- Simpson Spence & Young - Indonesia
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- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
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- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
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- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
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- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
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- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
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- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
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- VISA Power Limited - India
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- PowerSource Philippines DevCo
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- Minerals Council of Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
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- Petron Corporation, Philippines
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- Parliament of New Zealand
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- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
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- Heidelberg Cement - Germany
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- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
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- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
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- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
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- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
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- Romanian Commodities Exchange
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- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
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- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GMR Energy Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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