PTBA wins the Best BUMN Award; reports 39% profit increase

The state-owned coal mining company PT Tambang Batubara Bukit Asam (PT BA) has recently won the BUMN Award as the best managed state-owned company in the energy and telecommunications sector, the Palembang Post reported on Saturday.

BUMN stands for state-owned enterprises (SOEs).

The South Sumatra-based coal miner defeated other SOEs in the particular sector including PT Telkom, PT Bharata Indonesia, PGN, PLN, PT INTI, and PT PAL Indonesia, the paper said.

The award was handed over to the company's president director by State Minister of SOEs Laksamana Sukardi in a ceremony held in Jakarta on Wednesday.

In addition to receiving the Best BUMN Award in the energy and telecommunication sector, PT BA, which operates a coal mine in Tanjung Enim, South Sumatra, were also one of nominees for the Best BUMN Award on corporate governance.

PTBA reported a net profit of Rp 112.39 billion in the first semester of this year ended in June, a 39 percent increase from Rp 80.69 billion in the same period. (*)