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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$1 equals Rp8,865)
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
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