Bukit Asam Collaborates With 3 BUMN Banks To Facilitate The Utilization Of Coal DHE

Photo: Maria Trisnawati/VOI

JAKARTA - The state-owned mining issuer, PT Bukit Asam Tbk (PTBA) signed a Memorandum of Understanding (MoU) for the Natural Resources Export Result Foreign Exchange Utilization Facility (DHE SDA) with 3 partner banks, namely PT Bank Negara Indonesia (Persero) Tbk (Bank BNI), PT Bank Rakyat Indonesia (Persero) Tbk (Bank BRI) and PT Bank Mandiri (Persero) Tbk (Bank Mandiri).

PTBA Finance Director, Farida Thamrin said, this memorandum of understanding strengthens collaboration between PTBA and partner banks, and provides mutual support benefits in their respective business activities.

"In addition, PTBA hopes to optimize the management of DHE SDA for the sustainability and progress of the natural resource industry in Indonesia, so as to increase the company's contribution to the national economy," said Farida Thamrin in a statement to the media, Wednesday, October 2.

Farida explained that the DHE SDA utilization scheme has been regulated through Bank Indonesia Regulation Number 7 of 2023 concerning Export Results Foreign Exchange and Import Payment Foreign Exchange (PBI No. 7 of 2023); and Member Regulation of the Board of Governors of BI Number 4 of 2023 concerning Exchange of Export Results and Exchange of Import Payments as amended last time by Member Regulation of the Board of Governors of Bank Indonesia Number 6 of 2024 (PADG BI No. 6 of 2024).

"In utilizing DHE SDA, PTBA will pay attention to applicable policies and regulations by prioritizing the principles of Good Corporate Governance," said Farida.

Frida said, PTBA as a company that exports coal is required to place DHE SDA at least 30 percent into Indonesia's financial system, either in the form of Special Accounts or financial instruments as stipulated in Government Regulation Number 36 of 2023 concerning Export Result Foreign Exchange from Concession, Management, and/or Natural Resources Processing Activities (PP No. 36 of 2023), where the shortest placement period is three months from the receipt of DHE SDA funds.

Farida ensured that PTBA was active in placing DHE SDA with the placement position according to the Financial Report as of June 2024, amounting to Rp1.6 trillion or equivalent to US$95.8 million through Indonesia's financial instruments available at Bank Indonesia and partner banks.

On the same occasion, Bank Indonesia Finance Market Development Department Director Arief Rachman said the DHE SDA utilization scheme was designed to improve the cash capabilities of domestic companies.

"We at Bank Indonesia strongly support this initiative. We strive to continue to provide facilities that can be used by domestic companies that comply with the DHE SDA provisions in order to access competitive funds in our banking," he said.