Pt Indika Energy Tbk · IDX:INDY
Pt Indika Energy Tbk — FY2023 Earnings Presentation
66 slides from Pt Indika Energy Tbk's earnings presentation, Apr 1, 2024
Slide 1: Company Update FY 2023
Company Update FY 2023 PT Indika Energy Tbk. 1 April 2024
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 Completed– 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 4Q23 4Q22 YoY 3Q23 QoQ FY23 FY22 YTD YoY Revenues 728.1 1,201.5 -39.4% 625.5 16.4% 3,026.8 4,334.9 -30.2% COGS (615.9) (837.0) -26.4% (535.7) 15.0% (2,474.9) (2,884.1) -14.2% Gross Profit 112.2 364.5 -69.2% 89.8 24.9%
Slide 5: Indika Energy – FY23 Revenue Contribution
Indika Energy – FY23 Revenue Contribution Revenue FY23 : US$3,026.8m Revenue FY22 : US$4,334.9m Non-coal Non-coal 11.3% 13.3% 3.4% 1.9% 7.0% 7.2% 0.9% 2.0% Kideco 12.3% 6.5% 1.3% MUTU Coal Trading 5,8% 7.5% Interport - Cotrans 7.5% Interport Tripatra 69.0% 13,6% 70.3% Others 78,1% 7,1% Coal Coal 86.
Slide 6: FY23 Business Highlights – Revenue Breakdown
FY23 Business Highlights – Revenue Breakdown FY23 FY22 Subsidiaries YoY Chg Remarks (US$ mn) (US$ mn) Sales Volume ▼ -12.2% (-4.2MT) to 30.5MT in FY23 (Target Production Volume = 31MT in FY23 vs 34MT in FY22). Kideco 2,223.3 3,008.8 -26.1% ASP ▼ 15.8% (-US$13.7/ton) from US$86.6/ton in FY22 to US$72
Slide 7: FY23 Business Highlights- Gross Profit/ Margin
FY23 Business Highlights- Gross Profit/ Margin FY23 FY22 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Change Gross Profit 552.0 1,450.8 33.5% Gross Margin (%) 18.2% 33.5% - Sales Volume ▼-12.2% (-4.2MT) to 30.5MT in FY23 due to lower annual target production in 2023. - ASP ▼15.8%(-US$13.7/ton) from US
Slide 8: Highlights of Recent Key Events: Kideco obtains IUPK until 2033
Highlights of Recent Key Events Kideco obtains IUPK until 2033 • Kideco has obtained an extension of the operating license to become a Special Mining Business Permit/ IUPK on 16 December 2022 • The IUPK is granted with a period of 10 years until 13 March 2033, and can be extended another 10 years ac
Slide 9: Strong Cash Position supports Sound Balance Sheet
Strong Cash Position supports Sound Balance Sheet Total Consolidated Cash Total Consolidated Debt US$m US$m 1,350 1,096 1,117 1,082 1,058 28 Other Loans 8 20 8 Bank Loans 159 198 228 234 853 1) 804 Notes 2024 323 323 294 Cash & 294 Other 696 Financial assets Notes 2025 568 568 568 535 Mar-23 Jun-23
Slide 10: Indika Energy – Sound Balance Sheet
Indika Energy – Sound Balance Sheet Cash Breakdown by Subsidiaries LTM Free Cash Flow US$ million US$ million HoldCo & Others Kideco Tripatra 800 725 700 42 597 600 63 500 44 822 400 450 43 290 300 154 188 198 176 158 114 200 392 473 393 492 100 310 0 2019 2020 2021 2022 2023 2019 2020 2021 2022 202
Slide 11: Operational Highlights Vs Corporate Guidance
Operational Highlights Vs Corporate Guidance 2023 2024 2023 2024 Budget FY2023 Budget Operational Data Guidance FY2023 FY2022 % CAPEX % Budget Budget (US$M) (US$M) (US$M) KIDECO Kideco 43.3 17.7 40.9% 16.4 Indika Reources 43.9 9.7 22.1% 0.0 Production (MT) 31.0 30.1 34.8 -13.5% 29.4 Interport 3.4 3.
Slide 12: Thermal Coal Price
Thermal Coal Price USD/ton 450 421 400 373 381 350 300 264 242 250 200 184 168 158 149 136 150 109 96 81 86 93 82 89 82 91 100 70 66 69 66 73 77 64 46 57 53 54 52 59 47 44 43 43 36 36 35 45 85 91 89 94 87 50 35 38 41 65 71 77 62 65 27 31 52 33 34 34 0 24 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21
Slide 13: Indonesia Coal Outlook
Indonesia Coal Outlook • The government expects domestic production to decline by 8.4% to by 710MT in 2024, from realized output of 775MT in 2023 or +12.8% YoY compared to 687MT in 2022 (target 2023: 695 MT). • Coal export increased by 11% YoY to 518MT in 2023, driven by higher demand to offset supp
Slide 14: Net-Zero
Indika Energy has set out bold aspirations as part of its ESG commitment 50% Net-Zero emissions by 2050 non-coal revenue by 2025 Notable green initiatives: A leading Indonesian One of The 1st Indonesian One of The 1st Indonesian Investment group company to commit to a Net investment groups Zero targ
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: Green Business - Aims to accelerate Indonesia's EV ecosystem
Green Business - Aims to accelerate Indonesia’s EV ecosystem PT Indika Energy Tbk Other IMG Investors 100% PT Solusi Mobilitas Indonesia Holding of EV Company 100% 100% 100% PT Ilectra Motor Group PT Mitra Motor Group PT Kalista Nusa PT Industri Baterai Armada Holding of Electric 2 Holding of Electr
Slide 19: Green Business – To support reducing GHG emission in transport sector
Green Business – To support reducing GHG emission in transport sector Indonesia GHG emission from Industrial activities 2011-2022 Indonesia GHG emission shares in Transportation Sector in 2022 • The transport sector stands as the country’s second-largest contributor to greenhouse gas (GHG) emissions
Slide 20: Indonesia's EV – Still in early stage, but fast growing
Indonesia’s EV – Still in early stage, but fast growing EV adoption status and targets E2W growth projection for Jakarta & Bali with IDR 7 million incentive Source: IESR, Indonesia Electric Vehicle Outlook 2023 Source: IESR, ADB, 2022 • EV adoption has been increasing in recent years. In 2022 alone,
Slide 21: Electric 2W – Establishment of Ilectra Motor Group
Diversification ‘ Investments – Green Businesses 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 22: IMG launched its brand ALVA with its own manufacturing facilities
IMG launched its brand “ALVA” with its own manufacturing facilities and builds experience center Products Manufacturing Facilities ALVA Experience Center ALVA One – Launched in 2022 ALVA Cervo – Launched in 2023 Key Highlights 1st 2W experience center in Indonesia. Fully operational manufacturing
Slide 23: 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 23
Slide 24: 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 25: Launched the new ALVA One XP in IIMS 2024
Launched the new “ALVA One XP” in IIMS 2024 25
Slide 26: Developing businesses to operate across the value chain in commercial EV
Developing businesses to operate across the value chain in commercial EV, with a vision to drive EV adoption in Indonesia Indika Energy has established businesses across the EV value chain Manufacturing Distribution Fleet-as-a-Service Charging Point Operatorship Local manufacturing of: Development o
Slide 27: Commercial EV - MMG Group
Commercial EV - MMG Group A group of E4W manufacturing & distributor Co with strong foreign partners Foxconn Indika Motor (FIM) Energi Makmur Buana (INVI) A joint venture between Foxconn & Indika Energy Act as distributor for commercial vehicle and its on Bus Manufacturing Facilities, which further
Slide 28: EMITS – End to End Capabilities
EMITS – End to End Capabilities Solar Hybrid Solution Rooftop Solar (Diesel + Batteries) Simplest solar solution on your factory rooftop to move forward Round The Clock power supply to renewable energy in Off-grid mode Canal Top Solar Unique solar solution to reduce Ground-mount Solar wide area requ
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: Indonesia's Renewable Energy – Huge solar potential, yet undeveloped
Indonesia’s Renewable Energy – Huge solar potential, yet undeveloped Installed renewable power capacity in 2021 compared to the estimated Large-scale solar capacity addition plan in RUPTL 2021–2030 (MWp) potential renewable energy capacity *exclude rooftop (3.6 GWp by 2025) and floating solar (26.65
Slide 31: Govt to convert 2.6GW diesel-fired power plants with renewable energy
Govt to convert 2.6GW diesel-fired power plants with renewable energy Indika’s consortium won tender for 102MWp hybrid solar + 252MWh Battery Storage PLN’s De-Dieselization program Phase I – total 167 MW Signing LOI to develop 102MWp hybrid solar power (Cluster II) • Indika Energy, part of a consort
Slide 32: EMITS – Project Highlights
EMITS – Project Highlights Type : Ground Mounted for pulp & paper Solar Capacity : 12.8 MWp spread over 14 ha Location : Riau, Sumatera Timeline : project carried out in record 6-mo time 8,402 tons 41,114 kilo 796,406 quantity of liters equivalent Coal saved water Carbon offset saved Type : Ground M
Slide 33: 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 34: 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 • Wood pellet productio
Slide 35: Indika Nature – Carbon Business at TMK to support Net Zero Target
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. Kalimantan Block A • The area is dominated by Meranti t
Slide 36: Indika Nature – Expanding to essential oil business
Diversification Investments – Green Businesses Indika Nature – Expanding to essential oil business Indika Nature acquired 100% 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 37: 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 38: Bauxite Mine and Nickel Trading
Diversification Investments – Minerals Bauxite Mine and Nickel Trading • Bauxite mine in W. Kalimantan • Entering nickel trading business by acquiring • Est. Reserve: 5.7 WMT 100% shares in PT Rockgeo Energi Nusantara • Est. Resources: 30 WMT • To build-up sizeable reserves with LT target to build a
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 2024 50 AA Score: BBB 45 44.2 A 40 38.1 35 34.5 34.9 BBB BBB BBB BBB 30 25 updated: 31 July 2023 BB BB BB 20 B 15 CCC 10 5 0 Jan-18 Dec-18 Jan-20 Jan-19
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 0.031 To spend 1% of EBIT p.a Started in 2022 Rp 64bn/1.25% Rp 137bn/1.20% Rp 6
Slide 45: IMPACT mangrove initiative: 35.35 ha, 46,610 trees, 2 villages
IMPACT was launched in March 2023 in Paser Regency, East Kalimantan to supports the Government's efforts to plant and rehabilitate mangroves on a wider and sustainable scale towards achieving carbon neutrality in Indonesia This three-year initiative that is not just about restoring mangroves, it is
Slide 46: Canting Berkelanjutan – Reducing stunting prevalence in Paser
CANTING BERKELANJUTAN Reducing stunting prevalence in Paser, East Kalimantan with Kideco Target: To reduce stunting prevalence rates in 14 villages in Paser, East Kalimantan to 14% by 2024 SSGI: 24.9% in 2022, 2023 data not released yet e-PPGBM: 15.5% in 2022, 13.8% in 2023 Beneficiaries as of Decem
Slide 47: 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 48: Comprehensive review of our company's 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 49: We also expanded our network by 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 50: Appendix
Appendix 50
Slide 51: 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 52: 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 3,026.8 2,782.7 918.1 772.7 2700 800 700 1,813.8 1800 552.0 426.7 289.5 312.2 400 350 900 173.3 71.9 0 0 0 2019 2020 2021 2022 FY23 201
Slide 53: Indika Energy's Key Business and Credit Ratios
Indika Energy’s Key Business and Credit Ratios Adj EBITDA* (USD mn) & 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% 1,150 6 44.3% 30% 33.5% 5 40% 800 25%
Slide 54: 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 55: 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 2,223.3 835.4 773.7 810 810 1,574.2 1600 1,249.5 540 540 411.4 800 305.7 248.5 270 177.1 270 208.2 138.3 0 0 0 2019 2020 2021 2022 FY23 2019 2
Slide 56: Kideco's Operational Highlights
Kideco’s Operational Highlights Cash Cost Breakdown Coal Production (mn ton) Coal Sales (mn ton) O/H Labor & Others 37 37 10.4% 0.0% 35.8 35.8 36 36 34.8 34.9 34.8 Freight 35 34.3 35 4.9% 34 34 33.0 33.0 33 33 Material 32 32 11.9% CM & Rental 31 31 30.5 47.3% 30.1 30 30 29 29 28 28 Gov. Royalty 23.6
Slide 57: Kideco's Operational Highlights
Kideco’s Operational Highlights YTD Summary P&L (US$mn) 4Q23 4Q22 YoY 3Q23 QoQ FY23 FY22 YoY Sales 517.1 792.6 -34.8% 471.6 9.6% 2223.3 3008.8 -26.1% Gross profit 84.3 299.1 -71.8% 52.6 60.3% 411.4 1222.7 -66.4% Operating profit 38.0 270.7 -86.0% 37.7 0.7% 305.7 1126.9 -72.9% Net income 36.3 152.9 -
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 8.9 10 400 30 25.1 1.5 18.4 0 301.0 306.6 20 300 10 -10 231.8 228.6 0 200 -20 -10 -7.4 -30 -20 -30.6 100 -30 -40 -40 -31.4 -43.5 0 -50 2019 2020 2021 2022 FY23 2019 2020 2021
Slide 59: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) * Revenues Breakdown by Value FY23: US$228.6 mn FY22: US$306.6 mn TPE 11.1% TPE 17.7% TPEC TPEC 82.3% 88.9% Cost Structure FY23: US$203.6 mn FY22: US$288.2 mn Sub contractor Others Others 4.2% 8.8% Travel Rental7.1% 3.0% 4.1% Freight Materials 5.5% 8.2% Constructo
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 31 Dec. 2023 Per 31 Dec. 2023 Tripatra Tripatra Engineers & Constructors 112.3 260.1 188.2 184.2 Tripatra Engineering 52.8 16.2 40.4 28.6 Tot
Slide 61: Indika Resources' Financial Highlights
Indika Resources’ Financial Highlights Revenues (USD mn) Cost of Good Sold (USD mn) Gross Profit (USD mn) 900 852.7 700 660.2 250 800 600 192.6 700 200 500 600 417.4 491.4 150 500 439.4 400 359.5 300.8 400 325.9 300 100 79.9 74.0 300 200 167.9 190.5 200 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 FY23: US$446.3 mn FY22: US$861.4 mn Coal Trading Coal MUTU 42.8% Trading 37.0% MUTU 63.0% 57.2% MUTU ASP (USD/ton) * MUTU Cash Cost (USD/ton) 250 140 127.7 192.9 120 200 103.6 100 150 129.7 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 35 32.5 140 8.0% 21.8% 114.6 30 120 25 100 20 80 IBP 5.3% 14.2 60 15 9.3 40 34.7 10 29.1 7 20 15.5 5 5.7 Cotrans 2.0 65.0% 0 0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 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