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MarketScreener Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  PT. Indika Energy Tbk    INDY   ID1000110901

PT. INDIKA ENERGY TBK

(INDY)
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End-of-day quote. End-of-day quote INDONESIA STOCK EXCHANGE - 12/02
1745 IDR   -1.13%
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Indika Energy Tbk PT : News Release INDY entered non binding term sheet to increase ownership in Awak Mas

12/11/2019 | 12:12am EST

NEWS RELEASE

FOR IMMEDIATE DISTRIBUTION

9 December 2019

Indika Energy has Entered a Non-Binding Term Sheet to Increase

Its Stake in Awak Mas Gold Project

Jakarta - PT Indika Energy Tbk. (IDX: INDY) or through its subsidiary PT Indika Mineral Investindo ("IMI") has entered into a non-binding term sheet with Nusantara Resources Limited ("Nusantara"), PT Petrosea Tbk. ("Petrosea") and PT Masmindo Dwi Area ("Masmindo") in relation to the Awak Mas Gold Project ("Term Sheet"). This development is a continuation of our strategic investment in Nusantara which was made initially in December 2018.

Currently INDY owns 21.02% stake in Nusantara Resources Limited. With this Term Sheet, Indika Energy could invest up to USD 40 million into Nusantara's wholly-owned subsidiary PT Masmindo Dwi Area ("Project Company") in two stages subject to satisfactory conditions. Upon closing, Indika Energy will own direct and indirect up to 52.6% interest in the Project Company.

Under this Term Sheet, Indika Energy's subsidiaries, PT Petrosea Tbk ("Petrosea") is to be awarded the Front End Engineering and Design (FEED) services. Upon satisfactory completion of FEED service, Project Company shall appoint Petrosea as the Engineering Procurement & Construction ("EPC") contractor with certain terms and conditions. By involving Petrosea into the project will enhance group's synergy further

Managing Director & CEO Indika Energy, Azis Armand said "This transaction is a continuation of our strategic investment in Nusantara. This strategic investment is a part of our diversification initiatives in non-coal sector and will synergize further within our group with the involvement of our subsidiary Petrosea."

For further detail information, please visit Nusantara's ASX announcement at

https://www.asx.com.au/asxpdf/20191209/pdf/44cdw61yh02krp.pdf

3rd Floor,

NEWS RELEASE

About Nusantara's Awak Mas Gold Project

Nusantara's Awak Mas Gold Project is development ready. The Definitive Feasibility Study (DFS)1 completed in late 2018 confirms a robust, long-life and low cost gold project. The DFS supports an initial 11-year project producing ~100,000 oz per year. Key attributes are:

  • The Awak Mas Gold Project ("the Project") is located 45km by road from
    Belopa on the east coast of South Sulawesi Province, Indonesia.
  • The Project is held under a 7th Generation Contract of Work (CoW) until June 2050 and is owned 100% by PT Masmindo Dwi Area, a wholly owned subsidiary of Nusantara.
  • Ore Reserve of 1.1 Moz gold within a 2.0 Moz gold Mineral Resource
    • # #

ABOUT INDIKA ENERGY

PT Indika Energy Tbk. ("Indika Energy") is Indonesia's leading integrated energy company through its strategic investments in the areas of Energy Resources - coal production (PT Kideco Jaya Agung, PT Multi Tambangjaya Utama); coal trading (Indika Capital Investment Pte. Ltd.); Energy Services - EPC - oil & gas (PT Tripatra Engineers & Constructors, PT Tripatra Engineering); EPC - contract mining (PT Petrosea Tbk. (IDX: PTRO).); Energy Infrastructure - marine transportation, ports & logistics for bulk goods and natural resources (PT Mitrabahtera Segara Sejati Tbk. (IDX: MBSS), PT Sea Bridge Shipping, PT Cotrans Asia, PT Indika Logistic & Support Services, PT Kuala Pelabuhan Indonesia); fuel storage (PT Kariangau Gapura Terminal Energi); coal-fired power plant (PT Cirebon Electric Power and PT Prasarana Energi Cirebon); Other Portfolios - gold production (Nusantara Resources Limited), IT enterprise (PT Xapiens Teknologi Indonesia), digital technology services (PT Zebra Cross Teknologi)

www.indikaenergy.co.id

FURTHER INFORMATION

Ricardo Silaen - Head of Investor Relations

Nicky Kurniawan - Senior Manager of Investor Relations & Corporate Finance

  1. investor.relations@indikaenergy.co.idT +62 21 2557 9877 or
    +62 21 2557 9888 ext.: 18130

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NEWS RELEASE

DISCLAIMER

This news release may contain certain financial information, projections, plans, strategies, and objectives of PT Indika Energy Tbk., that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law.

Neither PT Indika Energy Tbk., its affiliates nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements in this communication.

This news release is for information only and is not an offer to sell or an invitation to buy any securities and neither this news release nor anything herein forms the basis for any contract o r commitment whatsoever.

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Disclaimer

PT Indika Energy Tbk published this content on 11 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2019 05:05:04 UTC


© Publicnow 2019
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Sales 2020 29 750 B 2,11 B 2,11 B
Net income 2020 -853 B -0,06 B -0,06 B
Net Debt 2020 13 211 B 0,94 B 0,94 B
P/E ratio 2020 -10,7x
Yield 2020 2,51%
Capitalization 9 092 B 641 M 646 M
EV / Sales 2020 306x
EV / Sales 2021 283x
Nbr of Employees 5 798
Free-Float 31,3%
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Mean consensus BUY
Number of Analysts 2
Average target price 1 426,50 IDR
Last Close Price 1 745,00 IDR
Spread / Highest target 14,6%
Spread / Average Target -18,3%
Spread / Lowest Target -51,1%
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Managers
NameTitle
Mohammad Arsjad Mangkuningrat President Director
Agus Lasmono President Commissioner
Retina Rosabai Chief Financial Officer
Richard Bruce Ness Vice President Commissioner
Indracahya Basuki Commissioner
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