Toba Bara?s board remains unchanged
Tuesday, May 24 2016 - 04:08 PM WIB
IDX-listed coal mining firm PT Toba Bara Sejahtera Tbk, during shareholders meeting on Tuesday, kept its Boards of Directors and Commissioners unchanged.
The Board of Directors consist of Justarina Naiborhu as President Director with Pandu Sjahrir, Arthur Simatupang and Sudharmono Saragih as directors.
The Board of Commissioners consists of Jusman Djamal as President Commissioner with Bacelius Ruru and Farid Harianto as independent commissioners.
Justarina said Toba Bara will focus on increasing efficiency, direct sales to end users rather than through traders.
?There won?t be many corporate actions by us. There is a plan to buy a new mine but it is still under review, while expansion to the power sector is still on plan. We still stick to the existing business segment,? she said.
Toba will distribute US$1.14 million in dividends or 10.04 percent of the 2015 net profit of $11.36 million. Besides, the firm will keep 0.91 percent of the 2015 profit or $0.11 million as cash reserve and $10.10 million as retained profit for long-term investment.
Toba Bara owns three coal concessions through subsidiaries PT Adimitra Baratama Nusantara, PT Indomining, and PT Trisensa Mineral Utama, which are all located in East Kalimantan
Editing by Johannes Simbolon