Golden Energy incorporates two new subsidiaries
Thursday, May 7 2015 - 01:42 PM WIB
SGX-listed Golden Energy and Resources Limited announced on Thursday the incorporation of two new subsidiaries by the company?s IDX-listed subsidiary PT Golden Energy Mines Tbk (GEMS).
The two new subsidiaries are as follows:
1. Shanghai Jingguang Energy Co. Ltd.
? Country of Incorporation: People?s Republic of China
? Shareholders (percentage held): GEMS (100%)
? Registered capital: RMB 30,000,000
? Principal activity: Coal Trading
2. PT GEMS Energy Indonesia
? Country of Incorporation: Indonesia
? Shareholders (percentage held): GEMS (99%) PT Roundhill Capital Indonesia (1%), a subsidiary of GEMS
? Issued and paid-up capital: Rp 2,000,000,000
? Principal activity: Trading
The incorporation of the new subsidiaries are funded by internal sources and is not expected to have any material impact on the earnings per share or the net tangible assets per share of the company for the current financial year, the firm said.
Editing by Johannes Simbolon