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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Planning Commission, India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
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