The Batu Bara Company Owned By The Richest People Number 3 RI Conglomerate Low Tuck Kwong Wants To Explain The Performance Of The Third Quarter Of 2022

Illustration. (Photo: Pixabay)

JAKARTA - The coal issuer owned by the conglomerate and the third richest person in Indonesia, Low Tuck Kwong, namely PT Bayan Resources Tbk. (BYAN), will hold a public expose on Monday 5 December.

Low Tuck Kwong is the third richest person in Indonesia according to Forbes data, under Michael and Budi Hartono, the owner of the Djarum Group. Low Tuck Kwong's total wealth as of Sunday, November 20, reached 12.1 billion US dollars or around Rp. 188.76 trillion.

The BYAN stock code company will conduct an online public expose via video conference zoom meeting at 14.00 WIB.

Berdasarkan keterbukaan informasi pada laman Bursa Efek Indonesia (BEI), Public expose BYAN dapat disaksikan melalui Link: https://zoom.us/j/95429843800?pwd=b1JFeEdYOTV1RFhDa2QvT GQ3SGhXdz09 atau masuk melalui Meeting ID: 954 2984 3800 dengan passcode : bayan2022 BYAN akan membahas kinerja keuangan perseroan pada kuartal III tahun 2022 pada paparan publik tersebut seiring dengan pertumbuhan bisnis batu bara.

"We will send public expose material on November 30, 2022," wrote BYAN's management, quoted Monday, November 21.

For information, Bayan Resources posted significant financial performance growth as of the third quarter of 2022. Based on the financial report, BYAN's profit for the current period was recorded at 1.62 billion US dollars, a 148.96 percent jump compared to the third quarter of 2021 which was recorded at 650.32 million US dollars.

The increase in profit is in line with BYAN's increase in revenue from US$1.74 billion in the third quarter of 2021 to US$3.34 billion as of September 2022. Profits for the current period also shot from US$680.13 million to US$1.71 billion.

BYAN's cost of revenue also increased by 37.89 percent to US$927.55 million compared to the third quarter of 2021 which was recorded at US$672.63 million. Selling expenses were also recorded at US$163.14 million, an increase of 32.5 percent.