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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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Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
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- Commonwealth Bank - Australia
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- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
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- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
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- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Eastern Coal Council - USA
- White Energy Company Limited
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