Company Profile: PT Golden Energy Mines Tbk (GEMS.JK)

Profil Emiten PT Golden Energy Mines Tbk. (IDX GEMS)

Foto: Golden Energy Mines       PT Golden Energy Mines Tbk (GEMS.JK) is engaged in the trading of mining products and mining services. On March 13, 1997, the Company was established under the name of PT Bumi Kencana Eka Sakti, which later changed to PT Golden Energy Mines Tbk on November 16, 2010.

On December 10, 2009, the Company was acquired by PT Dian Swastika Sentosa Tbk through 99.998% of the Company's shares from PT Gerbangmas Tunggal Sejahtera. The acquisition has been recorded in Deed No. 40 dated December 10, 2009, of Notary Linda Herawati, SH, notary in Jakarta. PT Dian Swastika Sentosa Tbk's joining in the shareholder structure makes the Company indirectly a part of the Sinar Mas Group.

After becoming part of the Sinar Mas Group, several strategic business steps have been taken. The Company acquired several new mining areas located in Jambi and Central Kalimantan to expand its business. The Company obtained a Mining Business License (IUP) for Special Production Operations for the Transportation and Sales of Coal in 2011 and renewed in 2018.

Through IPO, GMR Coal Resources Pte. Ltd. (formerly GMR Infrastructure Investments (Singapore) Pte. Ltd.) (GMR), which is a subsidiary of the GMR Group, a leading infrastructure business group in India, has become the Company's strategic investor by holding/owning 30% (thirty percent) shares of the entire paid-up and issued capital by the Company. Previously, on August 11, 2011, the Company and GMR Coal Resources Pte Ltd signed a Coal Sale and Purchase Agreement, which was subsequently amended on September 14, 2017, for a period of 25 years from the first coal shipment. The agreement is supported by the Coal Sales and Purchase Support Agreement between the Subsidiary and the Company and GMR Coal Resources Pte Ltd, which regulates the support for coal availability from the Subsidiary to the Company and GMR Coal Resources Pte Ltd.

Another change in Shareholders occurred on April 20, 2015. PT Dian Swastika Sentosa Tbk transferred as much as 66.9998% of its shares to Golden Energy and Resources Limited, a company domiciled in Singapore and a Subsidiary of PT Dian Swastika Sentosa Tbk.

The Company has five main concession areas, which can separate into concession areas based on permits held by its subsidiaries, located in South Kalimantan, Jambi, Central Kalimantan, and South Sumatra, respectively.

General Information

NamePT Golden Energy Mines Tbk
Ticker CodeGEMS
AddressSinar Mas Land Plaza, Tower II, 6th Floor,  Jl. MH Thamrin No. 51 Jakarta Pusat 10350
Phone 02150186888
Tax Identification Number01.831.727.1-021.000
IPO Date17 Nov 2011
Main BusinessCoal Mining through Subsidiaries and Coal Trading
Sub SectorOil, Gas, and Coal
Sub IndustryCoal Production

Financial Data

Stock Price


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