GEMS doubles loan to its subsidiary
Saturday, June 29 2013 - 05:05 AM WIB
By Ruli Setiawan
IDX-listed PT Golden Energy Mines Tbk (GEMS) doubled loan facility to its SSX-listed subsidiary GEMS Coal Resources Pte Ltd to US$ 20 million from US$ 10 million, according to the company statement on Friday.
The loan, signed on June 26, would be allocated to finance working capital related to the company's coal trade.
GEMS owned 100% of GEMS Coal Resources shares.
Editing by Tri Subhki Rakhmatullah