Entering The 9th Age, This PTBA Subsidiary Will Soon IPO

Mining (Photo: Doc. SBS)

JAKARTA - Since being acquired by PT Bukit Asam (BA) through PT Bukit Multi Investama (BMI) on January 28, 2015, PT Satria Bahana Sarana (SBS) is entering its 9th age in 2024.

President Director of PT SBS, Agung Pratama revealed, at the age of 9, the company is targeting to list its initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the near future.

However, Agung is still reluctant to reveal when SBS will be listed on the stock exchange.

"We hope that this IPO can be realized in accordance with the initial schedule," he said in a statement to the media, Monday, February 5.

Agung said this step was taken to obtain capital sources that aim to increase working capital and expand business, as well as provide opportunities for investors to participate in the Company's growth and provide added value for stakeholders.

His party, continued Agung, still has to face a number of challenges in realizing the company's targets that have been set.

These efforts include increasing employee competence, carrying out special care for production equipment with rejuvenation planning, and maintaining the practice of Good Mining Practice.

"The three things are in line with PT SBS's Long-Term Plan (RJPP)," said Agung.

Throughout 2023, PT SBS has succeeded in achieving its production target exceeding the production RKAP in 2023.

"The achievement of production in 2023 has increased significantly when compared to the production RKAP in 2023 and the realization in 2022. This success is also inseparable from the full support of PT BA and PT BMI as the parent company," explained Agung.

Of all the achievements achieved, according to Agung, it is inseparable from the active and productive contributions of employees so that the Company can maximize the existing potentials to improve the Company's performance.

"Therefore, the development of employee competence must be carried out in a programmated and sustainable manner so that the Company can grow and develop to face all challenges," said Agung.

In addition, to continue the positive trend of PT SBS, several plans have been prepared that can increase Company productivity. First, rejuvenation equipment in several sites, then preparation for a new project plan in early 2025 which must be prepared everything in 2024.

"The operational implementation of new projects in 2024, which happens to be the location of the project outside the South Sumatra region," he said.