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An update from Interra Resources Ltd. ( (SG:5GI) ) is now available.
Interra Resources Limited has announced an internal restructuring of its subsidiaries, transferring shares in PT Interra Resources Indonesia Investment and PT Interra Energy Services from Interra Resources (Indonesia) Pte. Ltd. to Interra Resources (Borneo) Pte. Ltd. This restructuring, which involves no change in the company’s effective interest in the subsidiaries, is funded internally and is not expected to impact the company’s financial metrics for the current year. The move is part of the company’s ongoing efforts to streamline its operations without affecting its net tangible assets or earnings per share.
More about Interra Resources Ltd.
Interra Resources Limited, based in Singapore and listed on the SGX Mainboard, is involved in petroleum exploration and production, including petroleum production, field development, and exploration. The company is also expanding into renewable energy by collaborating on floating solar farms in Indonesia and holds rights to convert loans into equity interests in silica sand concessions.
Technical Sentiment Signal: Buy
Current Market Cap: S$23.6M
For a thorough assessment of 5GI stock, go to TipRanks’ Stock Analysis page.