Tembusu Partners invests US$7.5m in coal assets
It intends to list PMCR in an Asian location such as Singapore
SINGAPORE private-equity investor Tembusu Partners has invested US$7.5 million in a coal-resources company, with a view to listing the firm in an Asian location such as Singapore.
The investment in Singapore-registered Param Mitra Coal Resources Pte Ltd (PMCR) is the eighth made under Tembusu's Growth Fund II.
It is part of a $20 million investment underwritten by Islamic Bank of Asia (IB Asia), a joint venture between DBS Bank and prominent investors in the Gulf Cooperation Council.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal