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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Parry Sugars Refinery, India
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- TNB Fuel Sdn Bhd - Malaysia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- VISA Power Limited - India
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- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- The University of Queensland
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
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- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
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- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Eastern Coal Council - USA
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- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
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- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
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- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
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- Medco Energi Mining Internasional
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
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- Indonesian Coal Mining Association
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- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
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- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
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- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
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