JAKARTA. PT Golden Energy Mines Tbk (GEMS), a mining company owned by Sinarmas Group, has signed an addendum to the credit agreement given to PT Borneo Indobara (BIB).

The addendum to the credit agreement was carried out due to the additional credit facility limit provided by GEMS to BIB to IDR 2.4 trillion, from the previous IDR 2.25 trillion. In addition, the company also provided an additional credit agreement period until 31 December 2027, from previously 31 December 2024.

"The credit facility will be used by BIB for the development of the coal business, including infrastructure and infrastructure projects," explained GEMS Management, in an information disclosure on the Indonesia Stock Exchange (BEI) today.

Please note, BIB is a business entity owned by GEMS through PT Roundhill Capital Indonesia. The company's share ownership portion in Roundhill Capital is 99.02%. (KR/LM)