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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, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
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- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
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- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
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- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Economic Council, Georgia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
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