GEMS increases loan to Singapore trading unit
Thursday, March 27 2014 - 01:25 AM WIB
By Romel S. Gurky
IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS) announced on Wednesday it has increased its loan to its Singapore-based commodities l trading subsidiary GEMS Trading Resources Pte Ltd to US$30 million from initial $20 million.
The company said that the loan will mature in December 31, 2014 and used for working capital of the unit, which was set up in July of 2012 engaging in the trading of coal and other commodities.
Editing by Reiner Simanjuntak