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Golden Energy & Resources kept at 'buy' by RHB on ability to deliver

PC Lee
PC Lee1/26/2018 10:52 AM GMT+08  • 2 min read
Golden Energy & Resources kept at 'buy' by RHB on ability to deliver
SINGAPORE (Jan 26): Golden Energy & Resources, the former United Fiber System, is expected to deliver FY18 coal production target of 18 million tonnes versus 14 million tonnes in FY17, says RHB in a Friday report.
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SINGAPORE (Jan 26): Golden Energy & Resources, the former United Fiber System, is expected to deliver FY18 coal production target of 18 million tonnes versus 14 million tonnes in FY17, says RHB in a Friday report.

GEAR has proven its ability to ramp up its coal production to 9.5 million tonnes in 2016 from 4.4 million tonnes in 2015.

And to ensure the ramp-up in coal production, GEAR has appointed two coal industry veterans -- Bonifasius and R Utoro -- as president director and director respectively of its 66.9% subsidiary, Golden Energy Mines (GEMS) from Jan 1, 2017.

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