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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- Trasteel International SA, Italy
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- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
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- GAC Shipping (India) Pvt Ltd
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- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
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- International Coal Ventures Pvt Ltd - India
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- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
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- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
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- Economic Council, Georgia
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- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
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- GMR Energy Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
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- Mintek Dendrill Indonesia
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- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
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- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
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- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
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- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
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- Metalloyd Limited - United Kingdom
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