PT Bukit Asam Tbk (IDX:PTBA), member of Mining Industry Indonesia (MIND ID), held an Annual General Meeting of Shareholders for the 2021 Financial Year in Jakarta, Tuesday (24/05/2022). In the GMS, the shareholders approved the use of 100 percent of the Company’s net profit in 2021 of IDR7.9 trillion as dividends.
In addition to the stipulation of the use of net income, this GMS also include approval of the Annual Report; the ratification of the Company's Consolidated Financial Statements; approval of the Supervisory Report of the Board of Commissioners; the ratification of the Financial Annual Report and the Implementation of the Company's Social and Environmental Responsibility Program for the 2021 Financial Year; stipulation of bonuses for the Board of Directors and Board of Commissioners of the Company for Fiscal Year 2021 and salary/honorarium along with facilities and allowances for Fiscal Year 2022; approval of the appointment of a Public Accounting Firm to audit the Company's Financial Statements and the Micro and Small Business Funding Program for the 2022 Financial Year; and approval of amendments to the Company's Articles of Association.
The GMS also agreed that there was no proposed change in the composition of the Company's management.
Company Performance
In 2021, PTBA recorded a positive performance from an operational and financial perspective. The Company's coal production reached 30.0 million tons, with rail transportation of 25.4 million tons and coal sales of 28.4 million tons. Meanwhile, revenue reached IDR29.3 trillion with a net profit of IDR7.9 trillion. This net profit is also the highest net profit achievement in the history of the Company's operations.
PTBA also succeeded in transferring treasury shares totaling IDR303,148,100 shares at a price of IDR2,280 per share with the funds received by the Company excluding the transfer fee of IDR691,177,668,000.
In addition, PTBA has won 46 prestigious awards throughout 2021. Several awards include Program Penilaian Peringkat Kinerja Perusahaan Dalam Pengelolaan Lingkungan (PROPER) Gold Category, 3G Championship Award in Corporate Governance Reporting and 3G ESG Championship Award, as well as Program Kampung Iklim (Proklim).
Development Project Progress
Coal Gasification
The issuance of Presidential Regulation No. 109/2020, which was signed on November 17, 2020, by President Joko Widodo, marked the inclusion of two PTBA projects in the list of National Strategic Projects. One of the projects is the coal gasification project in Tanjung Enim, South Sumatra.
This project will be carried out for 20 years by bringing in foreign investment from APCI of USD 2.3 billion or equivalent to Rp 32.9 trillion. With the utilization of 6 million tons of coal per year, this project can produce 1.4 million DME per year to reduce LPG imports by 1 million tons per year.
Sumsel-8 Mine Mouth Coal-Fired Power Plant (PLTU)
Sumsel-8 mine-mouth coal-fired power plant with a capacity of 2x620 MW is a strategic project of PTBA with a value of US$ 1.68 billion. This PLTU is part of the 35 thousand MW project built by PTBA through PT Huadian Bukit Asam Power (PT HBAP) as an Independent Power Producer (IPP).
PT HBAP is a consortium between PTBA and China Huadian Hongkong Company Ltd. The construction progress of the PLTU project, which will require 5.4 million tons of coal per year, has reached 95 % at the end of December 2021. This PLTU is expected to be fully operational commercially in 2022.
Sumsel-8 mine-mouth coal-fired power plant utilizes environmentally friendly technology supercritical. The PLTU also applies technology flue gas desulfurization (FGD), which functions to minimize sulfur dioxide (SO2) from PLTU exhaust gas emissions.
Development of Solar Power Plants (PLTS)
The Company's business expansion into the new and renewable energy sector is also starting to roll. One form of its development is PLTS at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The PLTS consists of 720 solar panel systems with photovoltaics with a maximum capacity of 241 kilowatt-peak (kWp) installed in the Airport Operation Control Center (AOCC) Building. PLTS was fully operational on October 1, 2020.
The Company is currently also planning to develop PLTS in the Company's post-mining areas, namely:
1. PLTS in Tanjung Enim with a capacity of up to 200 MW and a total area of 224 Ha;
2. PLTS in Ombilin with a capacity of up to 200 MW and a total area of 201 Ha
3. PLTS in Bantuas, East Kalimantan, with a capacity up to 200 MW.
In addition, PTBA, together with PT Jasa Marga (Persero) Tbk, is also exploring the potential for cooperation in the development of PLTS on the Jasa Marga Group toll road, which is marked by the signing of Memorandum of Understanding (MoU) on February 2, 2022.
Coal Transport Project
In collaboration with PT Kereta Api Indonesia (Persero), is developing railways for coal transportation with a capacity of 72 million tons/year in 2026, which consists of:
1. Development of new facility
The development of the Tanjung Enim - Kramasan coal transportation with a capacity of 20 million tons/year which built by PT KAI (Port) and PTBA (Train Loading System and Coal Handling Facility), is planned to operate in Q4 2024. Besides that, coal transportation to Perajen Port has also been developed with 20 million tons/year carrying capacity. It is planned to operate in Q3 2026.
2. Existing facility development
· Tanjung Enim – Northward: Kertapati Port, increasing the capacity of the existing line from 5 million tons to 7 million tons and has been completed in 2021
· Tanjung Enim – Southward: Tarahan-1, increasing the capacity of the existing line from 21.4 million tons to 25 million tons and has been compeleted in 2021.
Social and Environmental Responsibility (TJSL)
In 2021, PTBA distributed micro and small business (MSE) funds of IDR 5.5 billion aimed at the trade, services, fisheries, industry and plantation sectors. A total of 127 partners were registered as newly fostered MSEs and 240 partners succeeded in becoming promoted MSEs.
Not only that, PTBA also distributed social and environmental responsibility funds (TJSL) of Rp166.2 billion. This fund is intended for several pillars, namely social Rp90.2 billion, economic Rp29.9 billion, environment Rp31.9 billion, and law and governance Rp14.2 billion.
