Sugih injects $100m to oil, gas trading unit
Tuesday, March 3 2015 - 01:48 AM WIB
By Romel S. Gurky
IDX-listed PT Sugih Energy Tbk said it has injected S$100 million to its 100 percent-owned Singapore-based oil and gas trading subsidiary Sugih International Pte Ltd.
The company said in a statement to the IDX on Monday that the capital injection is meant to help optimize the oil and trading business of the subsidiary.
Sugih Energy is also engaged in the upstream oil and gas sector through its 55 percent ownership in Petroselat Ltd, the 100 percent participating interest holder and operator of Selat Panjang PSC in Sumatra.
Editing by Reiner Simanjuntak