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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
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- Thiess Contractors Indonesia
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- Altura Mining Limited, Indonesia
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- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
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- White Energy Company Limited
- India Bulls Power Limited - India
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- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
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- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
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- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
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- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
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- International Coal Ventures Pvt Ltd - India
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- Manunggal Multi Energi - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
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- The University of Queensland
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- Trasteel International SA, Italy
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- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
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