Resources Global Development Limited Announces Strategic Disposal of PT Singaraja Putra Tbk Shares

Key Highlights of the Disposal Announcement

• Disposal of Shares: Resources Global Development Limited (“RGD” or “the Company”), via its wholly-owned subsidiary Batubara Development Pte. Ltd. (“BBD”), has disposed of 3,500,000 shares in PT Singaraja Putra Tbk (“PT SINI”), representing approximately 0.73% of PT SINI’s total issued shares, through open market transactions on 9, 13, and 14 January 2026.
• Sale Price and Proceeds: The shares were sold at a volume-weighted average price of IDR 14,516 (around S\$1.11 per share), with total net proceeds estimated at IDR50.7 billion (approximately S\$3.9 million) after deducting expenses.
• Reduction in Stake: Following the disposal, BBD’s stake in PT SINI decreased from 16.22% (78,030,000 shares) to 15.49% (74,530,000 shares).
• Financial Impact: The disposal will result in a gain of approximately S\$2.8 million over the fair value of the Sale Shares as of 30 June 2025.
• Use of Proceeds: The Company intends to apply the net proceeds towards general working capital purposes, with interim placement in short-term deposits or money markets as management deems fit.

About PT Singaraja Putra Tbk (PT SINI)

• PT SINI is an Indonesian company listed on the Indonesia Stock Exchange (IDX).
• It holds a 54% stake in PT Interkayu Nusantra (timber industry), and a 75% stake in PT Dwi Daya Swakarya (which in turn owns 80% of four coal mining companies).

Valuation and Financial Information

• Fair Value: Based on unaudited financials for the half year ended 30 June 2025, the fair value of the Sale Shares is around S\$1.1 million.
• Net Tangible Assets (NTA) and Loss: As at 30 September 2025, net liabilities attributable to the Sale Shares were about S\$381,171, and the net loss for the 9-month period was S\$22,819.
• Market Value Realized: The open market value of the Sale Shares (based on weighted average prices) was approximately S\$3.6 million.

Strategic Rationale and Shareholder Impact

• Rationale: The Board believes the disposal enhances the Group’s liquidity, allows realization of investment value, and provides flexibility to redeploy resources to optimize asset utilization.
• Shareholder Impact: The disposal is expected to positively impact the Group’s net tangible assets and earnings per share:
  • NTA per share increases from 13.0 to 13.6 Singapore cents.
  • EPS rises from 2.2 to 2.8 Singapore cents.
• No Service Contracts: No new director appointments or service contracts are proposed in connection with this disposal.

Regulatory and Corporate Governance Considerations

• Disclosable Transaction: Based on the relative figures under Rule 1006 of the Catalist Rules, this disposal is classified as a “disclosable transaction” and does not require shareholder approval.
• No Interests of Directors or Major Shareholders: None of the directors or controlling shareholders has any direct or indirect interest in the disposal, except through their existing shareholdings or directorships.

Potential Price-Sensitive Information

• This transaction results in a significant gain (S\$2.8 million) and enhances key financial metrics (NTA and EPS), both of which are potentially price-sensitive and could positively influence the Company’s share price.
• Investors should note the Company’s increased liquidity and improved capital position, which may support future strategic initiatives or investments.

Important Notices to Investors

• Shareholders and potential investors are advised to exercise caution when dealing in RGD shares. They should read this and future announcements carefully and seek professional advice when in doubt.

Conclusion

The disposal of PT SINI shares by Resources Global Development Limited is a strategically significant move that enhances the Company’s financial position and flexibility. The transaction is expected to be accretive to shareholders, with an immediate positive impact on profitability and asset base. The improved liquidity puts the Company in a better position to seize future growth opportunities.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should consult their financial advisors and review official company disclosures before making any investment decisions. While every effort has been made to ensure accuracy, no representation or warranty is given as to the completeness or reliability of the information. The author assumes no responsibility for any investment decisions made based on this article.

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