Golden Energy modifies loans to subsidiaries
Thursday, January 7 2016 - 01:38 AM WIB
IDX-listed coal mining company PT Golden Energy Mines Tbk (GEMS) said it has converted its combined US$170 million loans allocated to its subsidiaries into rupiah loans to meet the new central bank ruling, which obliges the use of the local unit in domestic transaction.
Corporate Secretary Sudin said in a statement Wednesday that the maturity period of the loans has also been extended.
The loans were distributed to four subsidiaries including PT Roundchill Capital Indonesia, PT Borneo Indobara, GEMS Trading Resources Pte Ltd, and Kuansing Inti Makmur.
Editing by Reiner Simanjuntak