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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Wood Mackenzie - Singapore
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- Standard Chartered Bank - UAE
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- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
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- Vedanta Resources Plc - India
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- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
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- Power Finance Corporation Ltd., India
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- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
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- Indian Energy Exchange, India
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- Bangladesh Power Developement Board
- London Commodity Brokers - England
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- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
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- PowerSource Philippines DevCo
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- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
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