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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Planning Commission, India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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