Oil, Gas and Consumable Fuels
Company Overview of PT Bukit Asam (Persero) Tbk
PT Bukit Asam (Persero) Tbk, together with its subsidiaries, is engaged in coal mining activities primarily in Indonesia. The company’s coal mining activities include general surveying, exploration, exploitation, processing, refining, transportation, and trading. It is also involved in the maintenance of coal port facilities; operation of steam power plants; provision of consulting services related to the coal mining industry and production; and development of coal briquettes, as well as in coal trading. The company was founded in 1950 and is headquartered in Tanjung Enim, Indonesia.
Jl. Parigi No. 1
Tanjung Enim, 31716
Founded in 1950
Key Executives for PT Bukit Asam (Persero) Tbk
PT Bukit Asam (Persero) Tbk does not have any Key Executives recorded.
PT Bukit Asam (Persero) Tbk Key Developments
Bukit Asam Eyeing Ignite Energy Resources
May 20 14
PT Bukit Asam (Persero) Tbk (JKSE:PTBA) is planning to acquire 15% to 30% stake in Ignite Energy Resources Limited. Bukit Asam’s President Director, Milawarma said that the plan is in line with the company's targets to have the technology to transform low-calorie coals into crude oil and high-grade coal. According to the officcial, the company is currently completing the due diligence phase related to the planned acquisition and the investment value and cooperation scheme have not been determined. He expects the final decision to be made in September 2014. He said, “Our current target is not to be the majority (shareholder), which is 15% to 30%.”
PT Bukit Asam (Persero) Tbk Presents at Macquarie and IDX Joint Conference - New York, May-08-2014
May 5 14
PT Bukit Asam (Persero) Tbk Presents at Macquarie and IDX Joint Conference - New York, May-08-2014 . Venue: The Sofitel Hotel, 45 West 44th Street, 4th Floor, New York, NY 10036, United States.
PT Bukit Asam (Persero) Tbk Reports Earnings and Production Results for the First Quarter Ended March 2014; Provides Sales Guidance for 2014
Apr 30 14
PT Bukit Asam (Persero) Tbk reported earnings and production results for the first quarter ended March 2014. The company posted an increase of 9% net profit to IDR 542 billion until the first quarter of 2014 from IDR 498 billion in the same period last year. The revenue increased into IDR 3.09 trillion from IDR 2.77 trillion. Improved financial performance is sustained over by 3.9% increase in coal sales to 3.76 million tons until the first quarter of 2014 from 3.6 million tons in the same period last year. Meanwhile, the main sustainer of rising sales volume came from coal transport volume growth of PT Kereta Api Indonesia located in Tanjung Enim mine, South Sumatra, toward the Tarahan port in Bandar Lampung. Despite the higher production, the company’s first-quarter sales volume dropped slightly to 4.2 million tons from 4.5 million tons in 2013. The company attributed the declining coal sales to slowing sales among some of its subsidiaries. The increase in revenue is a result of strategy to sell seven brands of coal.
For the period, the company’s coal production rose by 13% to 3.29 million tons during the period, compared to 2.92 million tons produced in the same period last year.
As for 2014, the company aimed at boost its sales by 39% year on year to 24.7 million tons.
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