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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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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- White Energy Company Limited
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
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