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Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 trillion the company’s disclosure report says.
According to media reports, GMR Coal Resources Pte. Ltd. sold 1,764,705,900 shares or the equivalent of 30% of the shares that have been issued and fully paid in PT Golden Energy Mines Tbk to PT ABM Investama Tbk on 31 August 2022 through an Auction process.
Based on this auction results, the report further noted that, PT ABM Investama Tbk through PT Radhika Jananta Raya (PT RJR), a wholly-owned indirect subsidiary of PT ABM Investama Tbk, has signed a Share Purchase Agreement on August 31, 2022, to purchase 1,764,705,900 shares or equivalent to 30% of GEMS shares listed and traded on the stock exchange from GMR Coal Resources Pte. Ltd. with a purchase price of US$ 420 million plus deferred compensation," ABM Investama said in an information disclosure, on 31 /8/2022.
According to the disclosure, based on the Agreement, PT ABM Investama Tbk acts as guarantor of PT RJR which unconditionally and irrevocably guarantees to GMR Coal Resources Pte. Ltd. for proper and timely performance and compliance by PT RJR for all obligations, commitments, efforts, guarantees, and compensation under the Agreement.
The settlement of the Share Purchase Transaction is subject to the fulfillment of preliminary requirements, among others, the approval of the General Meeting of Shareholders and the Board of Commissioners of PT RJR on the Share Purchase Transaction, the approval of the Board of Commissioners of the PT ABM Investama Tbk which approved the Company to enter into the Agreement and the provision of guarantees by the Company based on the Agreement and approval from the PT ABM Investama Tbk’s creditors to approve the Share Purchase Transaction, including changes to the Supplemental Indenture in relation to the US$ 200 million 9.5% Senior Notes maturing in 2026.
"All of the Preliminary Requirements will be completed within 75 days from the signing of the Agreement or on another date as agreed by the GMR Coal Resources Pte. Ltd. and PT RJR," PT ABM Investama Tbk said in its disclosure.
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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- MS Steel International - UAE
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