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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
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