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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The University of Queensland
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