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.

Jakarta Post

Adaro marks 10th IPO anniversary

Marchio Irfan Gorbiano (The Jakarta Post)
Jakarta
Tue, July 17, 2018

Share This Article

Change Size

Adaro marks 10th IPO anniversary PT Adaro Energy (Adaro) president director Garibaldi Thohir (Antara/Sigid Kurniawan)

P

ublicly listed coal miner PT Adaro Energy marked its 10-year initial public offering (IPO) on Monday, a milestone that also marks the company's diversifying its business beyond mining.

Adaro president director Garibaldi Thohir said the company had successfully transformed from mining company with coal mines in South Kalimantan into diversified company with a number of integrated businesses.

“In the first decade [since the IPO], we have transformed from a South Kalimantan coal mining company into a vertically integrated coal mining company, from [coal] pits to port to power,” Garibaldi said in his speech at Adaro's 10th IPO anniversary event on Monday in Jakarta.

He added that the company’s decades-old existence was a testament to its resilience in navigating through the  boom-bust cycle of natural resources.

Adaro had continued to transform its business model since July 16, 2008, when it was listed on the Indonesia Stock Exchange, to expand to eight business sectors, including logistics, services, water, land development and energy, said Garibaldi.

“We are always committed to take part in developing our beloved country by providing public access to clean water and electricity through our integrated mining and energy businesses,” he added.

Finance Minister Sri Mulyani Indrawati and taxation director general Robert Pakpahan also attended Monday's anniversary event (bbn)

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.