We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
|
|
|
Showing 5446 to 5450 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Planning Commission, India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
|
| |
| |
|
