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Interra Resources Ltd. ( (SG:5GI) ) has provided an update.
Interra Resources Limited has announced the termination of its joint venture with PT Mitra Investindo Tbk and PT Prima Aset Lestari for the development of a wood pellet plant in Sumatra, Indonesia. The company has agreed to sell its 40% shareholding in PT Mitra Biomass International to PT. Inti Bina Utama for Rp 4,400,000,000, which will be used to fulfill obligations under a mandatory conversion loan agreement. This strategic move allows Interra Resources to streamline its operations and reallocate resources, potentially impacting its financial commitments and future business strategies.
More about Interra Resources Ltd.
Interra Resources Limited is a company involved in the energy sector, focusing on the exploration and production of oil and gas. The company is engaged in various joint ventures and partnerships to expand its operations and market presence.
Technical Sentiment Signal: Buy
Current Market Cap: S$23.6M
For detailed information about 5GI stock, go to TipRanks’ Stock Analysis page.