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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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