Reported by okezone.com Continuing the plan of PT Indonesia Transport & Infrastructure Tbk (IATA) to turn its main business into an investment company, where the investment will be in business units, each of which will undertake mining, infrastructure and air transportation businesses.
To support this planned change in business activities, one of IATA’s subsidiaries, namely PT Indonesia Air Transport (IAT) has obtained an Aircraft Operator Certificate from the Ministry of Transportation, Directorate General of Civil Aviation. The certificate states that IAT is authorized to operate commercial air transportation in accordance with the operating instructions and applicable Civil Aviation Safety Regulations.
Also Read: IATA Enters Coal Business, Hary Tanoesoedibjo: Good Potential
By obtaining this license, IATA is one step ahead in realizing its plan to turn its main business into an investment company. The company also plans to hold an Extraordinary General Meeting of Shareholders on January 20, 2022 asking for approval from the Shareholders for various corporate actions, including:
- Plan to change the Company’s main business activities
- Plan to transfer the Company’s assets to IAT, a 99.99% owned subsidiary
- Plan to take over 99.33% shares of PT Bhakti Coal Resources (BCR) from PT MNC Investama Tbk (BHIT)
Meanwhile, the planned acquisition of BCR by IATA is believed to have a positive impact and added value for IATA’s shareholders. Currently, all related processes are running according to schedule in order to meet the acquisition completion target in semester 1 of 2022. With a transaction value of USD 140 million, this acquisition includes nine IUP owned by BCR located in Musi Banyuasin, South Sumatra, as follows:
- PT Bhumi Sriwijaya Perdana Coal (BSPC) and PT Putra Muba Coal (PMC), both of which are already operating and actively producing coal with a GAR range of 2,800 – 3,600 kcal/kg. BSPC has an estimated total resource of 130.7 million MT, while PMC has 76.9 million MT, with estimated total reserves of 83.3 million MT and 54.8 million MT, respectively.
- PT Indonesia Batu Prima Energi (IBPE) and PT Arthaco Prima Energi (APE), both targeted to start coal production in 2022. In addition, PT Energi Inti Bara Pratama (EIBP), PT Sriwijaya Energi Persada (SEP), PT Titan Prawira Sriwijaya (TPS), PT Primaraya Energi (PE), and PT Putra Mandiri Coal (PUMCO) are being prepared to operate within a year or two from now. These seven IUPs are considered highly prospective, with an estimated total resource of more than 1.4 billion MT.
- In addition, BCR, which has been supported by adequate infrastructure such as a pier and a 12 km haul road, continues to increase its production capacity with plans to build a new wharf and haul road in the near future. By the end of this year, with a production target of 2.5 million metric tons, BCR’s revenue is estimated to reach USD 74.8 million with an EBITDA of USD 33 million. Going forward, BCR will increase its production to 8 million metric tons by 2022.
