On July 4, 2018, we published an article reporting a lawsuit registered by the Jakarta State Administrative Court (PTUN Jakarta). The lawsuit in question at the time was filed by PT Kideco Jaya Agung, coal producing subsidiary of Indika Energy (INDY), against the Ministry of Environment and Forestry and the Head of the Capital Investment Coordinating Board (BKPM). On August 1, 2018, we received explanations on the lawsuit from the Company.
Read MoreThe Jakarta State Administrative Court (PTUN Jakarta) recently registered a lawsuit filed by PT Kideco Jaya Agung against the Ministry of Environment and Forestry and the Head of the Capital Investment Coordinating Board (BKPM). The object of dispute is the Company’s Forest Lend and Use License, but the court listed the lawsuit as related to Environmental Damage Due to Mining Activities.
Read MoreIndika Energy (INDY) booked net profit of US$335.4 million last year against losses of US$67.6 million in 2016, mostly due to one-off gain from revaluation of assets (US$384 million) and improvement of operating environment, especially higher average price of thermal coal.
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