Towards a Better Society
Toward a better society

Overview

We are firmly tapping into green business and clean energy

After successfully developing three greenfield coal mining assets, TBS diversified its business into the power sector by investing in the construction of two Coal Fired Power Plants (CFPP) with the aim of creating a more sustainable source of income and transforming into an integrated energy company.

In its development, TBS has sharpened the transformation process that is more focused on developing green business and clean energy. To that end, TBS reinvested cash flows from its fossil fuel business into innovative green businesses throughout Indonesia.

TBS will continue looking for business development opportunities by reviewing potential projects and/or asset acquisitions already operating, both in the renewable energy power plant and electric vehicle sectors. In the electricity sector, TBS focuses on developing clean and renewable energy power plants, mainly hydropower, wind turbine, solar panel, and supporting businesses.

In the electric vehicle business, in 2021, TBS made significant progress in our efforts to build collaborative development of the electric motorcycle ecosystem with strategic partners who have the same competence and commitment. With technological innovations and innovative clean and renewable energy projects, TBS is ready to take a key role in Indonesia's future energy transition.

Our History

The journey to building a better future

Our Company was established under the name PT Buana Persada Gemilang based on Deed Number 1 dated August 3, 2007, made before Notary Tintin Surtini, S.H., M.H, M.Kn, replacing Surjadi SH, Notary in Jakarta. PT Buana Persada Gemilang then changed its name to PT Toba Bara Sejahtra based on Deed Number 173 dated July 22, 2010, made before Notary Jimmy Tanal, S.H., replacing Hasbullah Abdul Rasyid, S.H., M. Kn, Notary in Jakarta.

In 2020, PT Toba Bara Sejahtra Tbk changed its name to PT TBS Energi Utama Tbk based on Deed Number 110 dated August 26, 2020, made before Aulia Taufani, S.H., Notary in the Administration City of South Jakarta.

The Company is a thermal coal producer in Indonesia with operations located in Sangasanga, Kutai Kartanegara, East Kalimantan, with a concession area of approximately 7,087 hectares of 3 mining concessions. Three subsidiaries, namely PT Adimitra Baratama Nusantara (ABN), PT Indomining (IM) and PT Trisensa Mineral Utama (TMU), respectively, operate the three adjacent mining concessions.

In 2013, the Company expanded its business line to palm oil processing by acquiring PT Perkebunan Kaltim Utama I (PKU), as part of the resolution of land overlap issues. To maximize the oil palm plantation, the Company built a palm oil mill with a capacity of 30 tons per hour to process plantation products. The palm oil mill has been operating since mid-2016.

In 2016, the Company took a bold step to develop business in the electricity sector as a strategy to become an integrated energy company. The Company established a subsidiary, PT Gorontalo Listrik Perdana (GLP), to develop the Sulbagut-1 2x50MW CFSPP project in Gorontalo Province.

In 2017, the Company established a second subsidiary in the electricity sector named PT Minahasa Cahaya Lestari (MCL). MCL focuses on the development of Sulut-3 2x50MW CFSPP project in North Sulawesi Province.

In 2020, the Company, through its subsidiary PT Toba Bara Energi (TBAE), increased its business portfolio in electricity sector by acquiring 49% share ownership of PT Adimitra Energi Hidro (AEH) involved in hydroelectric power plant development, and by acquiring PT Bayu Alam Sejahtera (BAS), which focuses on wind power plant development.

In 2017, AEH was determined by PLN as a prospective developer of a 2x3MW Mini Hydro Power Plant (PLTM) project located on Way Besay River, Sumber Jaya District, Lampung Province. AEH signed a Power Purchase Agreement (PPA) with PLN on February 22, 2021, which becomes effective on March 22, 2021.

In addition to the development of renewable energy power plants, the Company sees the potential for developing an electric vehicle (EV) ecosystem, especially electric motorcycles. The electric motorcycle ecosystem includes the domestic electric motorcycle and battery industry, sales and after-sales service network, and the battery exchange station infrastructure.

The Company decided to enter the electric motorcycle business as a development of the new business landscape in line with the roadmap for developing the clean and renewable energy business in 2021 - 2030. In 2021, the Company collaborated with GoTo Group to establish a joint venture company named PT Energi Kreasi Bersama. With the brand name “Electrum”, PT Energi Kreasi Bersama will develop an integrated electric motorcycle business.

Tahun
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
Our History
  • AEH signed a Power Purchase Agreement (PPA) with PLN regarding the 2x3 MW Mini-hydro Power Plant (PLTMH) development project in Lampung.
  • Sulut-3 2x50 MW CFSPP obtained confirmation of Commercial Operation Date (COD) from PLN.
  • The Company divested 5% of its shares in Paiton and changed the name of BHP to PT Karya Baru TBS (KBT).
  • The Company officially becomes a member of the United Nations Global Compact, the world's largest sustainability initiative under the United Nations.
  • The Company, through KBT, established a joint venture company named PT Energi Kreasi Bersama (Electrum) with PT Rekan Anak Bangsa to develop an electric vehicle ecosystem.
  • Committed to transition to green energy business and set a target to achieve carbon neutrality by 2030.
  • Sulbagut-1 2x50 MW CFSPP obtained confirmation of Commercial Operation Date (COD) from PLN.

Organization Structure

The organization structure of PT TBS Energy Utama Tbk

Shareholding Structure

The List of Company's Shareholders Share Listing Chronology

Shareholders Information

The Company is majority owned by Highland Strategic Holdings Pte Ltd (Highland) with a 61.91% share ownership. Highland is an investment company from Singapore, with address in 138 Arab Street. Highland focuses on investments in the energy sector in Southeast Asia, including Indonesia.

Share Listing Chronology

The Company listed its shares on the Indonesia Stock Exchange (IDX) on July 6, 2012. A total of 210,681,000 common shares at a nominal value of Rp200 per share were listed on the Exchange, representing 10.47% of the Company’s fully paid and invested capital. The shares offered to the public at the IPO at a price of Rp1,900 per share generated proceeds of Rp400,293,900,000 for the Company. Shares of the Company are listed on IDX with the ticker code TOBA.

On May 31, 2019, the Company conducted a stock split with a ratio of 1:4. The transaction caused a change in the nominal value of shares, which was previously Rp200 (two hundred rupiah) per share with the number of issued and paid-up shares amounted to 2,012,490,000, to Rp50 (full amount) per share with the number of issued and paid-up shares amounted to 8,049,964,000.

On December 14 – 21, 2022, the Company exercised the Capital Increase Without Pre-emptive Rights (PMTHMETD) in regard of Management and/or Employee Stock Option Program (MESOP) of 18,307,058 new shares at an exercise price of Rp590 per share so that the number of issued and paid-up shares from previously 8,049,964,000 shares to 8,068,271,058. The MESOP program was implemented based on the approval of the GMS on 17 June 2021, with share prices at the close of stock market on December 13 and 22, 2022, were Rp635 and Rp625, respectively. The additional of 18,307,058 new shares of the implementation of MESOP program has been stated in the Deed No. 9 dated March 3, 2023 made before Aulia Taufani, S.H., notary in South Jakarta.

Name of Shareholders

Number of Shares

%

Shareholders of 5% or more

HIGHLAND STRATEGIC HOLDINGS PTE LTD

4,983,799,956

61,017

TOBA SEJAHTRA, PT

702,567,244

8,602

BARA MAKMUR ABADI,PT

446,963,700

5,472

Masyarakat

2,034,496,070

24,909

Total Shares

8,167,826,970

100,000

Data as of January 30, 2025

Corporate Group Structure

The group structure of PT TBS Energy Utama Tbk

Our Values

Values are what we uphold in the business we operate, taking us further towards our goals.

American public power association

Visi

To be a leading integrated energy company in Indonesia with focus on growth, sustainability and human capital development.

Misi

Ecology
Sustainable
Creating sustainable shareholder value by implementing best-in-class energy practices.
Earth on hands
World class and Locally Competitive
Nurturing and sustaining a world-class, and locally astute, human capital.
Plant on Hands
Spreading Benefits
Devoting resources and efforts for the development of our group and related businesses with a view to enhancing the benefits we generate to stakeholders and the communities that we serve.
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Competitive Advantage
Continuing to develop competencies and resources while realizing efficiencies across operations.
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Building Strong Network
Building strong relationships with business partners while maintaining an impeccable standing in financial markets.
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Responsible Corporate Citizen
Being a responsible corporate citizen by incorporating social and environmental principles to our businesses based on robust corporate governance

Values

Integrity
We apply efforts and resources only to the highest standards of professionalism. We honor our commitments, communicate with transparency, and deliver results with excellence. We take personal responsibility for our own actions, and committed to fairness and trust with our customers, suppliers, and employees along with all of our stakeholders and the communities that we serve.
Resilience
Having built strength and resilience over the past decade, we are committed to safeguarding our growing business, resources, and human capital. Through disciplined capital management, security in liquidity and process optimization, we will continue to strive to enterprise and be relentless in leveraging on our strengths to achieve strategic goals.
Humility
We continually seek to realize continuous self-improvement as individuals and as a Company by challenging innate views and seeking insights from within our organization as well as from external thought leaders and companies with demonstrated excellence. Our confidence in our own stregths and awareness of areas on which to improve allow us to incorporate and build on a wealth of best practices that will empower us to weather future challenges.
Partnership
We engage our partners and stakeholders and the communities that we serve in fairness and trust while maintaining great relationships and cooperation with a view to expanding our capabilities and realizing common sustainable growth. We will build on our commitment to integrity and transparency to maintain our excellent standing in Indonesian business and retain the confidence of our customers, suppliers, and investors.
Service
We operate our business as a service to our nation. As a responsible corporate citizen, we are mindful of our role as agents of economic development and stewards of public welfare and the environment. Social and environmental principles are embedded in our DNA and we engage the communities that we serve on the basis of sustainability, transparency, and good corporate governance.

Management

Board of Directors

Direksi Dicky Yordan

Dicky Yordan

President Director
Alvin Firman Sunanda

Alvin Firman Sunanda

Director
Juli Oktarina

Juli Oktarina

Director
Mufti Utomo

Mufti Utomo

Director
Sudharmono Saragih

Sudharmono Saragih

Director

Board of Commissioners

Dewan Komisaris Bacelius Ruru

Bacelius Ruru

President Commissioner concurrently Independent Commissioner
Dr. A. Fuad Rahmany

Ahmad Fuad Rahmany

Commissioner
frances-kang

Frances Kang

Independent Commissioner
YASMIN_WIRJAWAN Thumbnail

Yasmin Wirjawan

Independent Commissioner

Subsidiaries

Strengthen our path to success by utilizing the capabilities of our subsidiaries

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PT Adimitra Baratama Nusantara (ABN)

Office Prosperity Tower, Level 37 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0608 F: (021) 5020 0607

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PT Indomining

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0839 F: (021) 5020 0837

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PT Trisensa Mineral Utama (TMU)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0835 F: (021) 5020 0836

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PT Perkebunan Kaltim Utama I (PKU)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0835 F: (021) 5020 083

Logo GLP
PT Gorontalo Listrik Perdana (GLP)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0863 F: (021) 5020 0862

PT Toba Bumi Energi (TBUE)
PT Toba Bumi Energi (TBUE)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0839 F: (021) 5020 0837

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PT Toba Bara Energi (TBAE)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0839 F: (021) 5020 0837

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PT Bayu Alam Sejahtera

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: +6221 5020 0353 F: +6221 5020 0352

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PT Karya Baru TBS (D/H PT Batu Hitam Perkasa)

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: +6221 5020 0353 F: +6221 5020 0352

Adimitra Resources Pte Ltd (Adimitra Resources)

8 Robinson Road #06-00 ASO Building Singapura 048544

P: (021) 5020 0608 F: (021) 5020 0607

PT Adimitra Baratama Niaga (Adimitra Niaga)
PT Adimitra Baratama Niaga (Adimitra Niaga)

Prosperity Tower, Level 37 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0608 F: (021) 5020 0607

electrolum
PT Energi Kreasi Bersama

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0353 F: (021) 5020 0352

PT Energi Baru TBS
PT Energi Baru TBS

Treasury Tower, Level 33 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: (021) 5020 0353 F: (021) 5020 0352

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Adimitra Energi Hidro (AEH)

Prosperity Tower, Level 37 District 8, SCBD Lot 28 Jl. Jend. Sudirman Kav. 52-52 Jakarta 12190

P: +6221 5020 0608 F: +6221 5020 0607

Awards

We have received a number of prestigious awards along our journey. We took these awards as motivation to be even better in the future.

Tahun
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012

Contact Us

If you have any questions, please do not hesitate to contact us.

Contact us

PT TBS Energi Utama Tbk Treasury Tower, 
Level 33 Office District 8, 
SCBD Lot 28 Jl. Jend Sudirman 
Kav.52-53 Jakarta 12190. Indonesia

P: +6221 5020 0353
F: +6221 5020 0352
E: Regulatory & Compliance: corsec@tbsenergi.com
Investor & Shareholders: ir@tbsenergi.com
Partnership & Media: corcomm@tbsenergi.com

Contact Information

Whistleblowing

TBS developed the infrastructure and policies for a Whistleblowing System (WBS) to better accommodate the reporting of alleged violations of the Code of Conduct. The WBS was implemented in early 2022.

The WBS policy is expected to be able to prevent violations and practices of irregularities and fraud in the Company's operational areas. This system can be used by all stakeholders, both internal and external parties, with a reporting system that can fully protect and maintain the confidentiality of the identity of the whistleblower and the information reported.