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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$1 equals Rp8,865)
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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
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- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
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