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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- The University of Queensland
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
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