TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsCoal miner Indika to set aside 42% of profit as dividends
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Publicly listed coal miner Indika Energy president director Arsjad Rasid (second left) and finance director Aziz Armand (second right) talk to journalists after attending the company's annual general shareholders meeting on April 26. (JP/Stefanno Reinard Sulaiman)
P
ublicly listed coal miner PT Indika Energy announced on Thursday that it would set aside US$40 million, 42.34 percent of its core profit in 2017, as dividends for its shareholders.
The company booked $94.4 million in profit last year, an increase or 318 percent from the figure in 2016.
The significant growth was particularly supported by the strong performances of its subsidiaries.
Meanwhile, Indika Energy president director Arsjad Rasid said after the company’s annual shareholders meeting on Thursday that the company had finished several projects, such as the expansion of the Tangguh liquefied natural gas (LNG) refinery in West Papua and the development of a gas refinery.
In 2017, Indika also issued $265 million in bonds. "The bonds improved our company's liquidity," he said.
Last December, the firm, through its subsidiary PT Indika Inti Corporindo, completed the $517 million acquisition of coal producer PT Kideco Jaya Agung, which is the third-largest coal producer in the country. With the acquisition of a 45 percent stake from South Korean resource and energy company Samtan Co. Ltd. and PT Muji Inti Utama, Indika now controls 91 percent of the company’s shares. Samtan holds the remaining 9 percent of Kideco. (bbn)
