Geo Energy proposes to raise stake in unit

It inks deal to buy remaining 34% interest in Borneo Int'l Resources that it does not already own - for US$25m


COAL-MINING group Geo Energy Resources has entered into a conditional sale-and-purchase agreement dated Dec 26, 2015, to buy the remaining 34 per cent shareholding interest in Singapore-incorporated Borneo International Resources Pte Ltd that it does not already own - for US$25 million. The mainboard-listed company made the announcement on Saturday.

Borneo International Resources indirectly holds an effective equity interest of 98.96 per cent in PT Sungai Danau Jaya (SDJ), which is "the holder...

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