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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- White Energy Company Limited
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
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