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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
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