MNC Group Divests Coal Shares, IATA Renamed Karya Pacific Energy
PT MNC Energy Investments Tbk. (IATA) will change its name to PT Karya Pacific Energy Tbk. after shareholders approved amendments to the articles of association at the Annual General Meeting of Shareholders (AGMS).
The company notified the Indonesia Stock Exchange (IDX) of the name change via a letter dated 30 June 2026, numbered 195-BEI/IATA-CSL/VI/2026, regarding the change of the company’s name.
Management explained that the name change follows a resolution passed at the AGMS held on 22 June 2026.
The change has also been set out in Deed of Statement of AGMS Resolution on Articles of Association Amendment No. 112, dated 22 June 2026, made before notary Aulia Taufani, S.H.
The company has also obtained approval from the Minister of Law and Human Rights through Decree No. AHU-0041928.AH.01.02.YEAR 2026 dated 26 June 2026.
“We hereby announce the change of the company’s name, from PT MNC Energy Investments Tbk to PT Karya Pacific Energy Tbk,” management wrote in its information disclosure to the IDX on Friday (10/7/2026).
The notification letter was signed by IATA President Director Suryo Eko Hadianto and Vice President Director A. Wishnu Handoyono.
Earlier, at the AGMS held on 22 June 2026, shareholders approved the change of the company’s name from PT MNC Energy Investments Tbk. to PT Karya Pacific Energy Tbk. The company said the name change was made to strengthen its corporate identity, improve alignment with its business vision and strategy, and support the company’s standing with stakeholders.
In addition to the name change, the AGMS approved a change in the company’s controlling shareholder, from PT MNC Asia Holding Tbk. to PT Karya Pacific Investama (KPI). The change resulted from the completion of a share acquisition transaction through a voluntary tender offer mechanism in accordance with capital market regulations.
Management believes KPI’s entry as a strategic partner will strengthen the company’s business fundamentals. The support is expected to increase capital capacity, accelerate business expansion, and open up new collaboration opportunities to drive sustainable performance growth and enhance shareholder value.
At the same time, the AGMS approved the annual report and financial statements for the 2025 financial year. Throughout last year, IATA recorded revenue of US$79.64 million with a net profit of US$8.27 million, up 7.73% from the previous year. The EBITDA margin also rose to 22.93% from 19.13% in 2024.
On the operational side, the company produced 3.42 million metric tonnes of coal and recorded sales of 3.51 million metric tonnes during 2025. As of year-end, IATA held proven coal reserves of 298 million metric tonnes.
For 2026, the company is targeting production of 7.8 million metric tonnes and has submitted a revision of its Work Plan and Budget (RKAB) to the Ministry of Energy and Mineral Resources to support the achievement of that target. Production will be supported by mines owned by PT Putra Muba Coal, PT Indonesia Batu Prima Energi, and PT Arthaco Prima Energy.
The AGMS also approved changes to the board of directors and commissioners. The company accepted the resignations of Santi Paramita as Commissioner, Henry Suparman as Vice President Director, and Anthony Putra Tjiptodihardjo as Director, and relieved Andrea Frans Tambunan as Director due to a new assignment within the company. In their place, shareholders appointed Christian as Director.