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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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Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
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