Geo Energy recovers 67% of unpaid receivables via sale of creditors’ rights

Geo Energy has sold certain creditors’ rights to funds managed by OCP Asia for US$18m.

“These creditors’ rights relate to fully provided outstanding receivables from PT Titan Infra Energy and PT Jaya Utama Indonesia,” the company said in a bourse filing.“The sale provides financial certainty to the group and will have a positive impact on the group’s cash position,” the company said, Geo Energy expects to recover a gain from the reversal of the provision on this conditional sale in FY2024 following the sale....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

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