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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$1 equals Rp8,865)
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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- India Bulls Power Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
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