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 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.

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.

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