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Inalum plans to increase its ownership in Bukit Asam

01 April 2019 03:17 PM  Company: PT. Bukit Asam Tbk[PTBA]
Rp. 2,760  -50 (-1.78%)

JAKARTA. PT Inalum (Persero) is currently reviewing its plan to increase the portion of ownership in PT Bukit Asam Tbk (PTBA), following the increasing potential of high-calorie coal business.

Rendi A. Witular, Head of Corporate Communication and Inter-Institution Relations of the Inalum, said that his party believed that PTBA's coal business was quite promising at this time. Moreover, it is supported by the selling value of high-calorie coal, the value of dividends paid to shareholders, and the downstream projects that are being worked on.

"It is being studied seriously. PTBA has a very large contribution to the profit of consolidated holding (Inalum), " Witular explained on Monday (1/4), in writing.

Witular explained that at present, market demand for high-calorie coal will boost PTBA's performance this year. For information, the sale of PTBA's short-calorie coal in 2019 has reached 3.8 million tons. Even though in 2018 PTBA was only able to produce 1 million tons of high-calorie coal. (KR/AR)

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PT. Bukit Asam Tbk [PTBA]   Rp. 2,760   -50 (-1.78%)