Golden Energy Mines Awarded as ‘Best of the Best – the 50 Best Companies 2021’ by Forbes

PT. Golden Energy Mine is engaged in the business of trading sector of mining products and services. Originally, the company was established under the name of PT Bumi Kencana Eka Sakti in 1997. Later it changed to PT Golden Energy Mines on 16 November 2020, after being acquired by Golden Resources Limited, Singapore-based trading, and mining company backed by Sinar Mas Group. In Indonesia, the company has coal mining business permits in Jambi, South Sumatera, West Sumatera, South Kalimantan, and Central Kalimantan. The company’s total mining area is 66,204 hectares with a potential resource of 2.91 billion tonnes and total reserves of 1.03 billion tonnes. Additionally, Golden Energy Mines has a value in market cap at $1.69 billion and net income at $95.86 million.

Particularly about the award, the awarding list is based on the long-term fundamental performance of these Indonesian companies, including the results of the past year when they, and all listed companies, needed to demonstrate their adaptability and resilience in the face of the new economic environment brought about by the pandemic. The Companies were ranked based on a composite score using multiple metrics assigned various weights in a formula including three-year net, income growth, three- year ROE and ROA growth. Those results were then screened for governance.

Congratulations to Golden Energy Mines and to all of us at Sinar Mas Mining for this big achievement. This is another milestone for us to achieve even greater success in the future.

*Source: Forbes Indonesia