Jakarta, CNBC Indonesia – Coal issuer PT Sumber Global Energy Tbk. (SGER) is currently being hit by issues of fraud involving foreign companies. SGER’s customer from Vietnam, Danka Minerals Joint Stock Company (Danka), saw an attempt to fraudulently send coal that did not comply with the company’s contract.
Regarding these accusations, Managing Director of Sumber Global Energy Welly Thomas said that Danka’s accusations were completely untrue and baseless. According to him, Danka has no legal or factual basis to state that SGER committed fraud and demands compensation for the quality of the cargo sent by SGER.
So, what is the profile of SGER Managing Director Welly Thomas? He is an Indonesian citizen who has served as SGER boss since 2008.
He obtained a Bachelor’s degree (BBA) in Marketing and Finance in 1995 and a Master of Business Administration (MBA) in 1996 from Eastern Michigan University, Michigan, USA.
Apart from that, he also serves as President Commissioner of PT Sumber Mineral Global Abadi Tbk. (SMGA), a subsidiary of SGER which operates in the nickel sector which was just listed on the Indonesia Stock Exchange (BEI) on January 29 2024. Welly serves as President Commissioner of SMGA based on the Deed of Decision of the Shareholders of PT Sumber Mineral Global Abadi Tbk No. 107 dated 13 September 2023.
Welly also currently serves as President Commissioner of PT Bintang Mitra Semestaraya Tbk. (BMSR) which operates in chemical trading.
Quoting his profile page on the Wall Street Journal, Welly Thomas is recorded as having led 5 different companies. Among others, as President Commissioner of PT Mandau Batu Alam, President Director of PT Suryamica, and President Commissioner of PT Binatek Reka Kruh.
Welly Thomas is also a member of the board of directors of PT Retco Prima Energi, Director of PT Tekonindo, and Director of PT Angkasa Nusa Graha.
Previously, he served as Vice President-Equity Sales at Net Securities, Inc. and Vice President-Equity Sales at ABN AMRO Bank NV (Indonesia).
RTI Business noted that Welly individually held 1341,269,756 SGER shares or 8.61%, as of September 30 2024.
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Coal Controversy: Sumber Global Energy’s Welly Thomas Responds with Finesse
Jakarta, CNBC Indonesia – Ah, the ever-thrilling world of coal! It’s not just black rock anymore; it involves drama worthy of a soap opera! PT Sumber Global Energy Tbk. (SGER) finds itself embroiled in accusations of fraud—yes, you heard it right, FRAUD! And wouldn’t you know it, the villain comes from… you guessed it, overseas! Our friends at Danka Minerals Joint Stock Company in Vietnam claim SGER delivered coal that apparently doesn’t quite meet the contract specifications. If that’s not a plot twist, I don’t know what is!
Now, on the other side of the ring, we have Welly Thomas, the Managing Director of SGER, who stands firm claiming that these accusations are nothing but a pack of lies—totally untrue and hilariously baseless! It’s like a dramatic courtroom scene unfolding, but without the gavel. “Danka, darling,” he might say, “you’re just having a bad hair day—that’s not a basis for a claim!”
Who’s Welly Thomas, Anyway?
Let’s pull back the curtain on the man behind the company. Welly, an Indonesian citizen, has been steering this coal ship since 2008. With a Bachelor’s in Marketing and Finance and a shiny MBA from Eastern Michigan University, it’s fair to say he’s got the chops! Not just a pretty face, Welly wears multiple hats, including that of President Commissioner over at PT Sumber Mineral Global Abadi Tbk. (SMGA), a new kid on the Indonesia Stock Exchange block focused on nickel—yes, that shiny metal you’d want on your eco-friendly car!
But wait, there’s more! He also dabbles as President Commissioner at PT Bintang Mitra Semestaraya Tbk., which deals in chemical trading. Talk about a diversified portfolio! He must have portfolios spilling out of binders like a multi-layered cake; each slice represents a company—and, let’s be honest, we love a good cake analogy!
The Man with a Plan
According to his illustrious profile, Welly has led five different companies. You know what they say: if you can’t find a job, just *become* the job! He’s been the President Commissioner at PT Mandau Batu Alam and PT Binatek Reka Kruh, not to mention his stint as Vice President of Equity Sales at Net Securities, Inc. So this is a man who’s flown high in the corporate sky and knows a thing or two about navigating storms!
Oh, and let’s not forget—Welly has some skin in the game with 1341,269,756 shares of SGER, which is about an 8.61% stake. That’s right, a sizeable chunk! If things go south, he stands to lose quite a bit. But hey, Welly seems to have a flair for drama, and I’m here for it!
What Does This Mean for SGER?
As SGER paddles through this murky water, it conjures the image of a comedy skit where each character justifies their position in the face of absurdity. Is this a case of mudslinging or just a comedic misunderstanding over coal quality? The stakes are high, the accusations are low, and Welly is putting on a show!
Join me as we wait to see how this coal-fueled drama unfolds. Will there be an award for the best performance in a leading role? One thing’s for certain, though: it’s riveting, it’s outrageous, and I wouldn’t want to miss a single moment!
Stay tuned for more updates on this unfolding saga in the world of coal!
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Jakarta, CNBC Indonesia – PT Sumber Global Energy Tbk. (SGER), a prominent coal producer, is embroiled in a serious controversy involving alleged fraudulent activities attributed to foreign entities. The company’s client from Vietnam, Danka Minerals Joint Stock Company, accused SGER of attempting to deliver coal that failed to meet the specifications outlined in their contractual agreement.
In response to these allegations, Welly Thomas, Managing Director of Sumber Global Energy, firmly stated that Danka’s claims are entirely unfounded and without merit. He emphasized that the assertions of fraud made by Danka lack any legal or factual basis and criticized their demands for compensation related to the quality of coal shipments made by SGER.
Welly Thomas has been at the helm of SGER as Managing Director since 2008. He obtained his Bachelor’s degree in Marketing and Finance in 1995, followed by a Master of Business Administration in 1996 from Eastern Michigan University, USA. His extensive education has laid a solid foundation for his executive career.
Furthermore, he plays a significant dual role as the President Commissioner of PT Sumber Mineral Global Abadi Tbk. (SMGA), which operates within the nickel sector, a company that just made its debut on the Indonesia Stock Exchange (BEI) on January 29, 2024. His appointment as President Commissioner of SMGA was formalized through the Deed of Decision of the Shareholders dated September 13, 2023.
Welly also holds the position of President Commissioner at PT Bintang Mitra Semestaraya Tbk. (BMSR), a firm specializing in chemical trading operations. His significant leadership experience is highlighted by his record of managing multiple companies concurrently.
According to his profile on the Wall Street Journal, Welly has orchestrated the operations of five distinct companies, including serving as the President Commissioner of PT Mandau Batu Alam and the President Director of PT Suryamica.
Additionally, he has been a pivotal figure within the board of directors at PT Retco Prima Energi, while also taking on directorial roles at PT Tekonindo and PT Angkasa Nusa Graha, showcasing his wide-ranging influence in various sectors.
Prior to his current executive roles, Welly gained invaluable experience as Vice President-Equity Sales at Net Securities, Inc., and held a similar position at ABN AMRO Bank NV in Indonesia, where he honed his financial and strategic expertise.
As of September 30, 2024, RTI Business reported that Welly Thomas holds a significant stake in SGER, owning 1341,269,756 shares, which represents 8.61% of the company’s total shares, illustrating his considerable investment and commitment to the firm’s future.
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N October 2023. Welly Thomas is showcasing his versatility and expertise by engaging in multiple sectors beyond coal, highlighting the importance of diversification in today’s fast-evolving market landscape.
In addition to his insightful commentary on the allegations from Danka Minerals, Welly is no stranger to controversy—but he’s demonstrated resilience and a strategic approach to navigating challenges. His experience with several companies, including serving as President Commissioner at PT Mandau Batu Alam and PT Binatek Reka Kruh, has equipped him with the skills necessary to manage crises effectively.
As SGER continues to contest these claims of fraud, the corporate drama unfolds in an environment rife with uncertainty. Investors are watching closely to see how this situation evolves, especially considering Welly’s substantial ownership stake in the company—approximately 8.61%—which certainly adds a layer of personal investment to the corporate intrigue.
The outcome of this situation may have broader implications not just for SGER, but for the coal market in Indonesia. The interplay of international business dynamics, local regulations, and environmental concerns is more pronounced than ever. Consequently, how SGER and Welly Thomas choose to navigate this challenge could set a precedent for future dealings in the sector.
while the controversy with Danka Minerals sits at the forefront, Welly Thomas’s multifaceted roles and strategic vision demonstrate a commitment to not only defending SGER’s reputation but also pursuing growth opportunities across various industries. As the saga continues, stakeholders remain on high alert, eager to see who will emerge from this conflict unscathed.
