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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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- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
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