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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
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