China Investment Corporation (CIC), a sovereign wealth fund, now officially holds a 19 percent stake (worth USD $950 million) in Kaltim Prima Coal, subsidiary of Indonesia's largest coal miner (yet debt-ridden) Bumi Resources. This share transfer is part of Bumi Resources’ debt settlement program with CIC. After the share transfer, Bumi Resources still owes CIC about USD $1.03 billion. Another chunk of this debt will be settled through transferring 42 percent of the shares of another subsidiary, Bumi Resources Minerals, (worth USD $257 million) to CIC.
Update COVID-19 in Indonesia: 1,298,608 confirmed infections, 35,014 deaths (23 February 2021)
23 February 2021 (closed)
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