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

The company sold the creditors’ rights for US$18m.

Geo Energy has sold certain creditors’ rights to funds managed by OCP Asia (Singapore) (OCP) 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.

Through the sale, Geo Energy recovered 67% of its remaining unpaid and outstanding receivables of US$26.85 million.

“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.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia