Sugih Energy plans to acquire shares in Ramba Energy
Saturday, September 7 2013 - 03:57 AM WIB
Singapore-incorporated Sugih Energy Pte (SEP), a wholly owned subsidiary of IDX-listed PT Sugih Energy, has made an offer to acquire 51 percent of the issued ordinary shares in Singapore-listed Ramba Energy.
According to the offering document seen Friday, the planned transaction is subject to certain pre-conditions.
Ramba Energy Limited is a SGX-listed company engaged in oil and gas exploration and production in Indonesia. Ramba ventured into the energy sector in 2008 with the goal of becoming a significant energy producer in Indonesia.
Ramba holds a 70% interest in the Jatirarangon block, located in West Java, Indonesia; a 100% interest in the West Jambi block, located in Sumatra, Indonesia; and its local subsidiary holds a 51% interest in the Lemang block, also located in Sumatra, Indonesia. All of Ramba?s assets are located in onshore regions on the Western Indonesian islands of Java and Sumatra.
Ramba?s logistics business unit, RichLand Logistics, provides supply chain services including inbound and outbound transportation activities, distribution management, seaport and airport cargo handling services, and chemical logistics distribution throughout the region.
Editing by Reiner Simanjuntak