Indus Capital Partners invests in CBM Asia

By Alexander Ginting

Indonesia-focused CBM exploration firm CBM Asia Development Corp. announced Wednesday that Indus Capital Partners LLC, in its capacity as investment manager on behalf of various private investment funds recently acquired a 9.7% interest in CBM Asia's outstanding shares and plans to increase the position further upon receipt of final acceptance from the TSX Venture Exchange.

Indus Capital Partners was founded in 2000 by former partners of Soros Fund Management. Indus is employee owned and specializes in international equity investing with a focus on the Asia Pacific region including Japan. Headquartered in New York City, with research offices in Tokyo, Hong Kong, London, Singapore and San Francisco, Indus has 86 employees. Indus currently handles approximately USD4.3 billion in assets under its management.

Alan Charuk, President and CEO of CBM Asia said, "Indus' investment during the recent capital raise, played a substantial part in the transformation of CBM Asia's shareholding structure. CBM Asia now has eight institutional investors, two from Hong Kong, two from New York, one from London, one from Vancouver and two from Toronto representing approximately 30% of our shareholder base -- a level that will increase further on completion of Indus' second tranche. We believe these institutions' investment in CBM Asia underpins the value proposition that we have created within the Indonesian CBM market. Furthermore, we appreciate their support in management's goal to achieve 10-15 Tcf of net recoverable resources."

Canadian-based CBM Asia holds various participating interests in four production sharing contracts for CBM in Indonesia.

Editing by David Mustakim