Resources Prima completes disposal of Sky One Network
Saturday, April 11 2015 - 04:51 AM WIB
SGX-listed Resources Prima Group, which operates coal mines in Indonesia, said it has on Thursday completed the disposal of logistics provider Sky One Network (Holding) Ltd after receiving the balance S$2.6 million of the total consideration of more than S$4.1 million.
?The board is pleased to announce that the company has received the balance of the consideration of the disposal amounting to approximately S$2.6 million,? Resources Prima said in a statement obtained Saturday.
Sky One Network and its subsidiaries are based in Hong Kong and specialise in courier and other logistics services between Hong Kong and the People?s Republic of China. They are principally engaged in the provision of integrated logistics services, customised solutions, delivery of goods from the airport terminal, seaports or distribution centres to the consignees? or customers? premises or vice versa (the HK PRC Logistics Business).
Resources Prima said that while the disposal consequently results in the company disposing off the entire HK PRC Logistics Business, it however, retains its 99 percent shareholding interest in PT Energy Indonesia Resources and the remaining one percent shareholding interest held by Sky One Network (Holding) Ltd has been transferred to the company?s subsidiary, PT Rinjani Kartanegara, pending approval from relevant authorities in Indonesia for the completion of the transfer.
Energy Indonesia Resources is a coal logistics company offering coal hauling services in Indonesia. Rinjani holds 1,933 ha coal concession in East Kalimantan.
Elsewhere, Resources Prima said that of the net proceeds from the disposal totaling S$4.1 million, $2.4 million has been disbursed by the company for general working capital purposes of the group as at the date of this announcement.
Editing by Reiner Simanjuntak