Who is golden energy & resources Pte Ltd?

Golden Energy and Resources Pte Ltd (“ GEAR ”) is a leading resources company in the Asia Pacific. GEAR’s businesses include: Various investments in renewable energy projects in Asia.

What is Golden Energy & Resources Limited (gear)?

Golden Energy and Resources Limited (“GEAR”) is principally engaged in the exploration, mining, processing and marketing of thermal coal sourced from its coal mining concession areas, covering an aggregate of approximately 38,165 hectares in South Kalimantan, Central Kalimantan and Jambi (a province in Sumatra), Indonesia.

Which financial statements are presented to the members of Golden Energy & Resources Limited?

The Directors are pleased to present their statement to the members together with the audited consolidated financial statements of Golden Energy and Resources Limited (the “Company”) and its subsidiaries (collectively, the “Group”) and the balance sheet of the Company for the fi nancial year ended 31 December 2019.

Does PT Golden Energy Mines Tbk have an internal audit department?

PT Golden Energy Mines Tbk (“GEMS”), a 66.9998% subsidiary of the Company, has an in-house internal audit department. The Company also has a Head of Internal Audit to oversee the work of GEMS in-house internal audit department.

Did PT Golden Energy Mines Tbk perform an impairment assessment?

The Group also performed an impairment assessment on its investment in PT Golden Energy Mines Tbk, its Indonesian listed subsidiary, as the carrying value of investment is higher than its share of net assets.