Pt Indika Energy Tbk · IDX:INDY
Pt Indika Energy Tbk — 9M 2023 Earnings Presentation
66 slides from Pt Indika Energy Tbk's earnings presentation, October 2023
Slide 1: Company Update 9M23
Company Update 9M23 PT Indika Energy Tbk. October 2023
Slide 2: Indika Energy - To Energize Indonesia for a Sustainable Future
Indika Energy - To Energize Indonesia for a Sustainable Future ✓ An Investment Holding Company with portfolio spanning across Indonesia, especially in energy value chain. ✓ Well-placed to capture domestic economic growth and global economic recovery ✓ Provides complementary products and services to
Slide 3: Divestment - Reducing Exposure in Coal Related Business
Divestment - Reducing Exposure in Coal Related Business On Going – PT Multi Tambangjaya Utama (MUTU) ✓ Signed CSPA to divest 100% stake in MUTU on 22 Sept 2023 to PT Petrindo Jaya Kreasi Tbk (“PJK”) ✓ Transaction value of US$218m including assignment of Marketing Right owned by Indika Capital Invest
Slide 4: Indika Energy's Consolidated Income Statement Highlights
Indika Energy’s Consolidated Income Statement Highlights Year To Date Summary P&L 3Q23 3Q22 YoY 1Q23 QoQ 9M23 9M22 YTD YoY Revenues 625.5 1,108.2 -43.6% 766.4 -18.4% 2,298.7 3,133.4 -26.6% COGS (535.7) (700.1) -23.5% (615.5) -13.0% (1,859.0) (2,047.1) -9.2% Gross Profit 89.8 408.1 -78.0% 150.8 -40.4
Slide 5: Indika Energy – 9M23 Revenue Contribution
Indika Energy – 9M23 Revenue Contribution Revenue 9M23 : US$2,298.7m Revenue 9M22 : US$3,133.4m Non-coal Non-coal 9.6% 11.1% 1.9% 2% 8% 0.9% 7% 2.0% 1.3% Kideco 13% 8% MUTU Coal Trading 5,8% 6% Interport - Cotrans 7% Interport Tripatra 70% 13,6% 72% Others 78,1% 7,1% Coal Coal 90.4% 88.9% 5
Slide 6: 9M23 Business Highlights – Revenue Breakdown
9M23 Business Highlights – Revenue Breakdown 9M23 9M22 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Chg Sales Volume ▼ -14.3% (-3.8MT) to 22.6MT in 9M23 due to lower annual target production in 2023. (Target Production Volume = 31MT in Kideco -23.0% FY23 vs 34MT in FY22) 1,706.2 2,216.2 ASP ▼ 10.1% (+
Slide 7: 9M23 Business Highlights- Gross Profit/ Margin
9M23 Business Highlights- Gross Profit/ Margin 9M23 9M22 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Change Gross Profit 439.8 1,086.3 -59.5% Gross Margin (%) 19.1% 34.7% Sales Volume ▼ -14.3% (-3.8MT) to 22.6MT in 9M23 due lower annual target production in 2023. ASP ▼10.1% (-US$8.5/ton) from US$84.2
Slide 8: Highlights of Recent Key Events
Highlights of Recent Key Events Kideco obtains IUPK until 2033 • Kideco has obtained an extension of the operating license to become a Special Mining Business Permit/ IUPK on 16 December 2022 • The IUPK is granted with a period of 10 years until 13 March 2033, and can be extended another 10 years ac
Slide 9: Cash and Debt Position 9M23
Cash and Debt Position 9M23 Total Consolidated Cash Total Consolidated Debt US$m US$m 1,350 1,088 1,096 1,117 1,257 1,058 28 Other Loans 14 8 8 Bank Loans 183 159 198 228 8531) 804 Notes 2024 323 323 323 294 Cash & Other Financial assets Notes 2025 568 568 568 568 Dec-22 Mar-23 Jun-23 Sep-23 Dec-22
Slide 10: Indika Energy – Sound Balance Sheet
Indika Energy – Sound Balance Sheet Cash Breakdown by Subsidiaries LTM Free Cash Flow US$ million US$ million HoldCo & Others Kideco Tripatra 800 725 700 42 597 600 63 31 500 822 450 233 400 43 300 251 154 188 198 176 114 200 589 392 473 393 100 310 0 2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M2
Slide 11: Operational Highlights Vs Corporate Guidance
Operational Highlights Vs Corporate Guidance 2023 2023 Budget 9M23 Operational Data Guidance 9M23 9M22 % CAPEX (US$M) (US$M) Budget KIDECO Kideco 43.3 9.6 22.2% Indika Resources 43.9 13.2 30.1% Production (MT) 31.0 22.3 26.1 -14.6% Indika Hold Co 1.2 0.9 70.9% Strip Ratio (x) 6.0 5.6 5.1 9.8% Interp
Slide 12: Thermal Coal Price
Thermal Coal Price USD/ton 450 421 400 373 381 350 300 264 242 250 200 184 168 158 149 150 109 96 81 86 93 82 89 82 91 100 70 66 69 66 73 77 64 46 57 53 54 52 50 47 44 43 43 36 36 35 45 85 91 89 94 87 35 38 41 65 71 77 62 27 31 52 33 34 34 0 24 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21
Slide 13: Indonesia Coal Outlook
Indonesia Coal Outlook • Total Indonesia coal production 2022 is estimated at 687MT or 4% higher than target of 663MT, grew 12% YoY from 614MT in 2021. • Total Indonesia’s coal export in 2022 was 494MT, up 16% YoY. • According to MEMR, Indonesia’s domestic consumption in 2022 was 193MT, up 45% YoY •
Slide 14: Net-Zero
Indika Energy has set out bold aspirations as part 50% non-coal revenue by 2025 of its ESG commitment Net-Zero emissions by 2050 2
Slide 15: Our Diversified Business Portfolio
Our Diversified Business Portfolio
Slide 16: Transforming into a diversified business portfolio
Transforming into a diversified business portfolio Current: Coal as core business Future: Diversified Business Portfolio Business that ✓ Diversified Business relies on coal, from Portfolio resources, ✓ Significant growth services and ✓ Less volatility infrastructure ✓ ESG investment Funding - Key Co
Slide 17: Indika Energy has developed into an investment company with a sustainable business portfolio
Indika Energy has developed into an investment company with a sustainable business portfolio Logistics & Logistic assets, EPC services, infrastructure, e.g. fuel storage Field exploration of coal resources, Energy Infrastructure production and trading resources Exploration of gold and other metals M
Slide 18: Investments – Green Businesses
‘ Investments – Green Businesses Diversification Electric 2W – Establishment of Ilectra Motor Group (IMG) IMG is an E2W IMG venture business… Manufacturing Co. Distribution Co. (PT Electra Mobilitas Indonesia) (PT Electra Distribusi Indonesia) EMI EDI Dealer Co. (PT Electra Auto Indonesia) EAI …back
Slide 19: Investments – Electric Vehicle
Diversification ‘ Investments – Electric Vehicle IMG – Major Milestones 2022 - We have launched our product, 1st E2W experience center in Indonesia and an operational manufacturing center 2023 – We launched second product: Alva Cervo within 10 months after the first launch Jun/22 Aug/22 Oct/22 Nov/2
Slide 20: Introducing Our Electric Motorcycle Brand : ALVA
Introducing Our Electric Motorcycle Brand : ALVA Alva Mobile APP 1. Remote On/Off 2. Bike Sharing Access 3. GPS Locator & Tracker 4. Battery Monitoring 5. Charging Station Locator 6. ALVA Experience Center Locator 7. ALVA Roadside Assistance 8. Monthly Saving Estimator RP 36.500.000 20
Slide 21: Introducing Our Electric Motorcycle Brand : ALVA
Introducing Our Electric Motorcycle Brand : ALVA Alva Mobile APP 1. Remote On/Off 2. Bike Sharing Access 3. GPS Locator & Tracker 4. Battery Monitoring 5. Charging Station Locator 6. ALVA Experience Center Locator 7. ALVA Roadside Assistance 8. Monthly Saving Estimator 103kph* 125 Km** 17 degree* (2
Slide 22: Ilectra Motor Group
Ilectra Motor Group Ilectra Motor Group (IMG) is a lifestyle mobility solution company with aspiration to become a leading electric two wheelers champion and prime mover of the local green mobility ecosystem • ALVA is a lifestyle mobility solution from IMG, part of Indika Energy, Alpha JWC Ventures,
Slide 23: Product launch in GIIAS 2022
Product launch in GIIAS 2022 …with clear customer buy-in Alva One successfully launched on GIIAS 2022, biggest auto show in Indonesia… Awarded as Best Daily Bike in GIIAS Awarded as Best Electric Motorcycle Scooter 2022 by GridOto-Kompas Gramedia Group 86% will recommend Alva one to others ~400 pre-
Slide 24: Investments – Green Businesses: Electric 2W
‘ Investments – Green Businesses Diversification Electric 2W – Establishment of Ilectra Motor Group (IMG) About Market Opportunity • 1st E2W venture backed by an established Indonesian group • $10 billion market 2W market growing at ~2% annually alongside seasoned VCs • 120 million 2Ws on the road o
Slide 25: Electric 2W – Indonesia is the 3rd Largest Market for 2W in the World
Diversification Investments – Green Businesses Electric 2W – Indonesia is the 3rd Largest Market for 2W in the World 2W ownership penetration, by country, 2019-20 # owned per 100 population Indonesia EV vehicle sales1, Million vehicles Total Addressable Market ~US$ 7 Bn in 2035 E2W penetration2 1. I
Slide 26: EV 4W – Foxconn Indika Motor (FIM)
Diversification Investments – Green Businesses EV 4W – Foxconn Indika Motor (FIM) to support EV Ecosystem in Indonesia 100% Mitra Motor Foxteq Singapore Group (MMG) Pte Ltd 60% 40% Foxconn Indika Motor (FIM) • On 22 Sept 2022, through fully owned PT Mitra Motor Group (MMG) has established a JV with
Slide 27: EV Sector – To Develop EV Ecosystem in Indonesia
EV Sector – To Develop EV Ecosystem in Indonesia IBC MOU Electric Battery Industry Electric Vehicle Industry Supporting Industries Value Cell, ESS, Precursor, R&D Chain module exchange cathode, 2-wheel EV 4-wheel EV E-Bus of Battery & & battery stations anode pack EV & recycling INDY signed MOU toge
Slide 28: EV 4W – Electric Bus & Charging Stations
Diversification Investments – Electric Vehicle EV 4W – Electric Bus & Charging Stations • Indika Energy acquired 51% shares in PT Energi Makmur Buana (EMB/). • Energi Makmur Buana (EMB) is a distributor of electric buses for the Edison Motors and Foxtron brands, as well as supporting facilities for
Slide 29: Solar Power – EMITS
Diversification Investments – Green Businesses Solar Power – EMITS • Formed a JV to develop solar power business with Fourth Partner Energy Limited (4PEL), India’s leading solar developer, called Empat Mitra Indika Tenaga Surya (EMITS), with 51% stakes. • EMITS will provide a one-stop-shop, renewabl
Slide 30: EMITS' Project Design Experience
Diversification Investments – Green Businesses EMITS’ Project Design Experience ROOFTOP SOLAR (CURVED TYPE) CARPORT SOLAR ROOFTOP SOLAR GROUND-MOUNTED SOLAR BESS CANAL TOP SOLAR FLOATING SOLAR 30
Slide 31: EMITS – Project Highlights
Diversification Investments – Green Businesses EMITS – Project Highlights Type : Ground Mounted for pulp & paper Solar Capacity : 12.8 MWp spread over 14 ha Location : Riau, Sumatera Timeline : project executed in record 6-mo time 8,402 tons 41,114 kilo 796,406 quantity of liters equivalent Coal sav
Slide 32: Indika Nature – Biomass, Agroforestry, Carbon Offset
Diversification Investments – Green Businesses Indika Nature – Biomass, Agroforestry, Carbon Offset Energy Plantation Environment Services Agroforestry & Non Timber Forest Product • Designated for planting Calliandra trees to • Process of obtaining a carbon credit • Develop agricultural products tha
Slide 33: Indika Nature – Biomass Energy to produce wood pellet
Diversification Investments – Green Businesses Indika Nature – Biomass Energy to produce wood pellet DIVA Jaya Bumi Paser 23,590 Ha East Kalimantan Diva Perdana Pesona 29,485 Ha East Kalimantan TMK • Currently in phase I with target to TCG plant 7,500 ha of Calliandra by 2024 • First harvest is expe
Slide 34: Indika Nature – Carbon Business at TMK to support Net Zero Target
Diversification Investments – Green Businesses Indika Nature – Carbon Business at TMK to support Net Zero Target Location Project Overview • PT Telaga Mas Kalimantan (TMK) is the holder of Forest Concession Rights (IUPHHK-HA (now PBPH) with an area of 82,805 ha, located in Paser Regency, E. Kalimant
Slide 35: Indika Nature – Expanding to essential oil business
Diversification Investments – Green Businesses Indika Nature – Expanding to essential oil business Indika Nature acquired 46% shares in PT Natura Aromatik Nusantara An essential oil producer with the fourth largest exporter in Indonesia located in Solo, Central Java Sector attractiveness due to its
Slide 36: Developing Gold Asset Project through Nusantara Resources
Diversification Investments – Minerals Developing Gold Asset Project through Nusantara Resources A Strategic investment in Nusantara Resources Limited. Nusantara owned 100% PT Masmindo Dwi Area which has sole rights to exploit in Awak Mas Gold Project Location : South Sulawesi, 370 km from Makasar P
Slide 37: Developing Bauxite mine
Diversification Investments – Minerals Developing Bauxite mine Entering bauxite sector with long term view to develop alumina smelter in West Kalimantan by acquiring 100% shares in PT Perkasa Investama Mineral (“PIM’)/ Mekko Indika Energy Location : Ngabang, Landak, West Kalimantan 100% ( 70 km from
Slide 38: Nickel Trading
Diversification Investments – Minerals Nickel Trading Entering nickel trading business by acquiring 100% shares in PT Rockgeo Energi Nusantara Volume WMT 158,941 52,758 23,480 2021 2022 9M23
Slide 39: Kariangau Fuel Tank Storage Is Up and Running
Diversification Investments – Logistics & Infrastructure Kariangau Fuel Tank Storage Is Up and Running Build and operate fuel storages exclusively for ExxonMobil Location : Balikpapan, Kariangau, East Kalimantan Project Company : PT Karingau Gapura Terminal Energy Total Project Cost : US$115million
Slide 40: Patimban Port
Diversification Investments – Logistics & Infrastructure Patimban Port ▪ A strategic infrastructure project development; as the first integrated supply chain port in Indonesia ▪ On 30 Dec 20, Ministry of Transport has appointed a consortium, as operator of Patimban Port for Phase 1 ▪ Indika joined t
Slide 41: Divestment - Reducing Exposure in Coal Related Business
Divestment - Reducing Exposure in Coal Related Business Completed Completed PT Petrosea Tbk PT Mitrabahtera Segara Sejati Tbk ✓ One of strategic directions to diversify away from coal ✓ Signed CSPA to divest 69.8% stake in PTRO on 18 Feb ✓ Signed CSPA to divest 51.0% stake in MBSS on 6 Aug 22 to PT
Slide 42: Net-Zero
Indika Energy has set out bold aspirations as part 50% non-coal revenue by 2025 of its ESG commitment Net-Zero emissions by 2050 2
Slide 43: ESG: Our ESG Ratings have improved
ESG: Our ESG Ratings have improved, reflecting our initiatives and commitment Risk Rating has declined from AAA Severe to High Last update: 21 Feb 2023 50 AA Score: BBB 45 44.2 A 40 38.1 35 34.5 BBB BBB updated: 24 June 2021 BBB BBB 30 25 updated: 28 July 2022 BB BB BB 20 B 15 CCC 10 5 0 Dec-18 Jan-
Slide 44: Our Key ESG Metrics have shown significant progress compared to 2025 target
Our Key ESG Metrics have shown significant progress compared to 2025 target ENVIRONMENT SOCIAL GOVERNANCE Scope 1 GHG emissions intensity Community Development Spending Sustainability Committee 2025: to decline by 10% to 0.028 To spend 1% of EBIT p.a Started in 2022 0.035 0.031 0.030 0.028 Rp 137bn/
Slide 45: Indika Energy Flagship Programs in Sustainability
Indika Energy Flagship Programs in Sustainability As a follow up of the IMPACT launching on last March, together with the Badan Restorasi Gambut dan Mangrove Indonesia (BRGM) and Maroon as the implementing partner, we discussed further plans for planting and maintaining mangroves in Paser, East Kali
Slide 46: Key ESG initiatives to drive impact throughout the past year
Key ESG initiatives to drive impact throughout the past year Environmental Social Increased use of solar power Kideco’s ESG Day • Solar PV in INDY Bintaro office (313Kwp) • A 10-day program to increase employees’ • Solar PV in Interport Business Park, knowledge of ESG through competitions and Balikp
Slide 47: Comprehensive review of ESG-related policy framework
We also embarked on a comprehensive review of our company’s ESG-related policy framework As part of our efforts to improve our sustainability governance, we have developed and published five new policies on our website Contents Scope Governance Next Steps Mechanism Each policy outlines the key These
Slide 48: Joining ESG-related associations
We also expanded our network by joining ESG-related associations Overview Overview The UN Global Compact is a conviction rooted in universal Indonesia Business Council for Sustainable Development principles to help the global marketplace to be more socially and (IBCSD) is a CEO-led association of co
Slide 49: Appendix
Appendix 49
Slide 50: Indika Energy, Indonesia's a diversified investment company
Indika Energy, Indonesia’s a diversified investment company PT Indika Energy Tbk. 1 ▪ Energy Resources 2 ▪ Energy Services 4 Logistic & Infrastructure 6 • Green Businesses Renewable Energy - Established since 2018 - Established since 2021 - Established since 1991 - Integrated logistic services - Joi
Slide 51: Indika Energy's Financial Highlights
Indika Energy’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 4500 4,334.9 1600 1400 1,450.8 1,210.1 3600 3,069.2 1200 1050 2,782.7 918.1 772.7 2700 2,298.7 800 700 1,813.8 1800 426.7 439.8 350 289.5 269.2 400 900 173.3 71.9 0 0 0 2019 2020 2021 2022 9M23 201
Slide 52: Indika Energy's Key Business and Credit Ratios
Indika Energy’s Key Business and Credit Ratios LTM Adj EBITDA* (USD mn) & LTM Adj EBITDA Margin (%) Gross Debt & Net Debt / Adj. EBITDA (x) Debt / Capital (%) 70% 66.1% 63.7% EBITDA EBITDA Margin Gross Debt Net Debt 59.9% 1,500 1,409.8 40% 8 60% 6.2 977.5 35% 50% 44.8% 45.1% 1,150 6 30% 33.5% 5 40%
Slide 53: Kideco – Leading Coal Producer in Indonesia
Kideco – Leading Coal Producer in Indonesia • Third largest coal producer in Indonesia • Environmental friendly thermal coal with ultra-low sulphur of 0.1% and low ash of (2.1% to 4.9%) • Attractive location with well-built infrastructure, and integrated value chain within the group, allowing for st
Slide 54: Kideco's Financial Highlights
Kideco’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 3200 3,008.8 1350 1350 1,222.7 1,126.9 1080 1080 2400 2,196.9 835.4 773.7 1,706.2 810 810 1,574.2 1600 1,249.5 540 540 327.1 800 248.5 267.8 270 177.1 270 208.2 138.3 0 0 0 2019 2020 2021 2022 9M23 2019 2
Slide 55: Kideco's Operational Highlights
Kideco’s Operational Highlights Cash Cost Breakdown Coal Production (mn ton) Coal Sales (mn ton) O/H Labor & Others 40 40 35.8 34.8 34.9 35.8 34.8 6.9% 2.8% 34.3 35 33.0 35 33.0 Freight 4.0% 30 30 Material 8.1% CM & Rental 25 22.3 25 22.6 37.4% 20 20 15 15 10 10 5 5 Gov. Royalty 40.8% 0 0 2019 2020
Slide 56: Kideco's Operational Highlights
Kideco’s Operational Highlights YTD Summary P&L (US$mn) 3Q23 3Q22 YoY 2Q23 QoQ 9M23 9M22 YoY Sales 471.6 831.4 -43.3% 575.3 -18.0% 1706.2 2216.2 -23.0% Gross profit 52.6 349.6 -85.0% 117.8 -55.4% 327.1 923.6 -64.6% Operating profit 37.7 326.7 -88.5% 96.4 -60.9% 267.8 856.3 -68.7% Net income 25.1 182
Slide 57: Peer Comparison (6M23 Data)
Peer Comparison (6M23 Data) PRODUCTION ANNUAL (MT) STRIP RATIO (x) CASH COSTS ex Royalty (US$/t) 70.0 66.5 14.0 80.0 12.0 12.0 68.2 60.0 70.0 50.0 10.0 60.0 52.9 40.0 37.6 8.0 50.0 28.6 6.0 40.0 37.0 30.0 6.0 5.4 28.0 3.9 30.0 20.0 16.4 4.0 20.0 10.0 2.0 10.0 - - - ADRO PTBA INDY ITMG ADRO PTBA INDY
Slide 58: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Revenue (USD mn) Gross Profit (USD mn) Net Profit* (USD mn) 500 462.3 50 20 16.9 37.5 40 10 4.3 400 30 18.8 20.6 0 301.0 306.2 20 300 10 -10 231.8 -7.8 185.1 0 200 -20 -10 -7.4 -30 -20 -30.6 100 -30 -40 -31.4 -43.5 0 -40 -50 2019 2020 2021 2022 9M23 2019 2020 2021
Slide 59: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) * Revenues Breakdown by Value 9M23: US$185.1 mn 9M22: US$219.4 mn TPE TPE 10.5% 16.1% TPEC TPEC 83.9% 89.5% Cost Structure 9M23: US$ 164.5 mn 9M22: US$205.3 mn Insurance Others Others 1.8% 3.2% 11.9% Transportation 3.4% Rental Construction 8.1% Construction Rental
Slide 60: Tripatra Backlog
Tripatra Backlog New Contract/ Remaining Contract Revenue Remaining Contract Adjustment Value Descriptions Value Recognition Value in 2023 Per 31 Dec 2022 Per 30 Sep. 2023 Per 30 Sep. 2023 Tripatra Tripatra Engineers & Constructors 112.3 139.8 155.3 96.8 Tripatra Engineering 52.8 20.4 29.9 43.3 Tota
Slide 61: Indika Resources' Financial Highlights
Indika Resources’ Financial Highlights Revenues (USD mn) Cost of Good Sold (USD mn) Gross Profit (USD mn) 900 852.7 700 660.2 250 800 600 192.6 700 200 500 600 417.4 491.4 150 500 400 300.8 400 345.3 281.0 325.9 300 100 74.0 300 64.3 200 167.9 190.5 200 50 100 21.3 22.6 100 0 0 0 2019 2020 2021 2022
Slide 62: Indika Resources' Financial Highlights (2)
Indika Resources’ Financial Highlights (2) * Revenues Breakdown 9M23: US$345.3 mn 9M22: US$622.5 mn Coal Trading Coal MUTU 42.8% Trading 37.0% MUTU 63.0% 57.2% MUTU ASP (USD/ton) * MUTU Cash Cost (USD/ton) 250 140 127.7 118.3 192.9 120 200 100 150 134.4 80 60.3 93.0 60 53.2 100 46.6 76.3 60.1 40 50
Slide 63: Interport's Financial Highlights
Interport’s Financial Highlights Revenues (USD mn) Revenue Breakdown Gross Profit (USD mn) Others, KGTE 30 90 83.5 8.0% 21.8% 80 25 24.1 70 20 60 50 IBP 14.2 15 5.3% 40 34.7 29.1 9.3 30 10 7 20 15.5 5 10 5.7 2.0 Cotrans 65.0% 0 0 2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23 Net Profit (USD mn)
Slide 64: Notes Outstanding
Notes Outstanding Ba 3 Stable Outlook (as of Jan 2023) The Senior BB - / Stable Outlook Notes are rated: International Ratings (as of May 2023) A + / Stable Outlook National Ratings (as of May 2023) Indika Energy Capital III Pte. Ltd. Indika Energy Capital IV Pte. Ltd. USD 322.9mn USD567.9 mn 5.875%
Slide 65: Strong Focus on and Commitment to ESG Initiatives
Strong Focus on and Commitment to ESG Initiatives Environmental Social Responsibility Governance ✓ Comply with all Indonesian environmental laws, ✓ Focus on supporting long-term economic growth and improving the quality of life in regions of operation ✓ Continuously implementing and improving good r
Slide 66: THANK YOU
THANK YOU 66