PT Hartadinata Abadi Tbk (HRTA), PT Emas Murni Abadi (EMA), and PT Gorontalo Minerals (GM) have signed an agreement regarding a collaboration on gold refining and buying and selling activities. The total precious metal that can be refined and purchased amounts to 5,711 kg per year (Term Sheet).
HRTA's Corporate Secretary, Ong Deny, revealed that the purpose of this collaboration is to develop each party's business activities. "This collaboration is expected to strengthen our position in the precious metals market and boost operational performance," he said to the Indonesia Stock Exchange, quoted on Wednesday (March 12, 2025).
Ong stated that this transaction is not a material transaction, and the reporting obligation for this transaction is in accordance with the provisions of Article 13 paragraph (1) of OJK Regulation No. 17/POJK.04/2020 dated April 20, 2020, concerning Material Transactions and Business Activity Changes.
Regarding the relationship between the parties involved, he explained that there is an affiliate relationship between the company and EMA, as EMA is a subsidiary of the company. In this transaction, there is no conflict of interest because there is no difference between the company's economic interests and those of the company's directors, major shareholders, or controlling shareholders that could harm the company.
On the other hand, there is no affiliate relationship or conflict of interest between the company and GM based on the prevailing capital market regulations. "This transaction is an exempt affiliate transaction, and the reporting obligation for this transaction is carried out in accordance with the provisions of Article 6 paragraph (1) letter b of OJK Regulation No. 42/POJK.04/2020 dated July 1, 2020, concerning Affiliate Transactions and Conflicts of Interest," he emphasized.
