Indonesian tycoon comes in for 15% stake in Ramba Energy

Indonesian tycoon comes in for 15% stake in Ramba Energy

Singapore: Ramba Energy, an oil and gas exploration and production company with interests in Indonesia, has entered into a private share placement agreement, which is expected to raise approximately S$17.9m in net proceeds.

The group has agreed to place a total of 68m shares priced at S$0.27 cents per share to Indonesian tycoon Dato Sri Tahir, giving him a 14.9% interest in the company.

Ramba plans to utilise 60.9% of the proceeds raised for activities related to the group’s oil and gas work programme.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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