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Based on a mutual decision and by ratification of the “Agreement For Takeover of PT AK Energi by PT Knight Consulting Indonesia” on May 27th, 2013 and in effect since, Knight Group International and Jay Abdullah Alatas have ended their Joint Venture. PT. Knight Consulting Indonesia has since taken over control of all shares of PT AK Energi, and is in the process of fully integrating PT AK Energi in Knight Group International.
Accordingly, Mr. Jay Abdullah Alatas has retired his position as Commissioner and Chairman of both PT. Knight Consulting Indonesia and PT. AK Energi.
We thank Mr. Alatas for his trust and mutually beneficial cooperation in the past.
Following a complete takeover of PT AK Energi by Knight Group International, the Group has initiated a series of structural and strategic changes of PT AK Energi. These changes have been found necessary to boost operational and structural efficiencies, and assure improved and stricter Corporate Governance and Controlling mechanisms.
Effective July 1, 2013, PT AK Energi ceases its Coal Trading efforts, which will be taken up by Knight Group’s Kuala Lumpur operations, under the Group Resources’ newly formed Trade & Supply Department. This move averts negative effects of a series of restrictive regulations imposed by the Indonesian Government and improves the trade finance cost and structural efficiency considerably, while Kuala Lumpur provides a much improved infrastructure, more internationally compliant and skilled staff and working environment for the multinational mix of the divisions’ management team.
AK Energi’s business model will be changed to a mining assets holding company, with a portfolio of medium and larger mining concessions, in a mix of operating Joint Ventures, Acquired Concessions and Joint Operations. AK Energi’s main focus will be to hold and develop the tenements for the Group. Therefore, its legal form will be changed to a Joint Stock Company (Tbk.) to enable an initial direct foreign holding of shares by Knight Group’s Resources and Mining Holding in Malaysia with a further Capital injection of USD 10,000,000 via a private placement of the newly issued shares. In a second move, AK Energi will be filing for and carrying out an Initial Public Offering on the Jakarta Stock Exchange, to increase the direct foreign shareholding of the Group to 85%, and 15% floated on the Jakarta Stock Exchange, with the majority remaining with our partners in Indonesia.
The envisaged steps are accompanied with personnel changes.
Further announcements will follow within July 2013.
Contact: Knight Consulting Indonesia
Based on the decision of the Board of Directors & Shareholders of PT. Knight Consulting Indonesia and its wholly controlled PT. AK Energi dated June 17th, 2013, Mr. Carlo Liszetzki, Director of both companies, has been relieved from duty effective June 17th, 2013, pending a formal ending of the his engagement with Knight Group International.
Contact: KGI Compliance Department
Our team will be attending Asia’s permier coal industry event from 3rd to 6th of June, 2012. Please contact Carlo for setting up an appointment.
PT AK Energi, a joint venture company of Albros and Knight Group, has taken up its operations and will be promoting and marketing “Knight Mining Solutions” products & services for Indonesia as well as take responsibility for export marketing of the Groups’ coal and other minig products. AK Energi will also be the investor of record and shareholder in the newly to be acquired mining sites and concessions in Indonesia.
The initial board members and executives are Jay Abdullah Alatas as Chairman, Muhammad Alatas as President Director and Carlo Liszetzki as Executive Director. With its offices located in the Albros Group’s building, PT AK Energi will be drawing upon resources and staff of both groups and expand its scope of activities gradually.
For more information, please contact:
Graha ADPD, Jl. Buncit Raya No. 101B, Jakarta 12510 – Indonesia
Phone: +62 21 7995169, Fax: +62 21 7995033, www.akenergi.com
Our team will be attending the 10th Coaltrans China from 17th to 18th of April 2012. Please contact Carlo Liszetzki to set up an appointment.
Our team will be attending the 10th Coaltrans India from 13th to 14th of March 2012. Please contact Carlo Liszetzki to set up an appointment.