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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Planning Commission, India
- White Energy Company Limited
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- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
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