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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, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
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