GEMS gives loan to subsidiary
Tuesday, October 30 2012 - 04:45 PM WIB
By Romel S. Gurky
IDX-listed PT Golden Energy Mines Tbk recently stated to have awarded loan facility to subsidiary GEMS Coal Resources Pte Ltd in accordance with the loan agreement signed on October 24, 2012.
According to a statement submitted to the Indonesian Stock Exchange that the amount of the credit amounted to US$10 million with two year tenure until October 23, 2014 at 8 percent interest (US$) and 12 percent (IDR).
The company stated that the loan will be utilized to finance GEMS CR capital in relation to its coal transactions.
Editing by Er Audy Zandri