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 the amendment to the articles of association during the Annual General Meeting of Shareholders (AGM). The name change was conveyed by the company to the Indonesia Stock Exchange (BEI) via a letter dated 30 June 2026, with reference number 195-BEI/IATA-CSL/VI/2026. Management explained that the name change is a follow-up to the AGM decision held on 22 June 2026. The change was also formalised in the Deed of Statement of Meeting Resolutions on the Amendment of the Articles of Association Number 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 Number AHU-0041928.AH.01.02.TAHUN 2026 dated 26 June 2026. In addition to the name change, the AGM approved the change of the company’s controller from PT MNC Asia Holding Tbk. to PT Karya Pacific Investama (KPI). This change is the result of the completion of a share acquisition transaction through a voluntary tender offer mechanism in accordance with capital market regulations. Management considers KPI’s entry as a strategic partner that will strengthen the company’s business fundamentals. This support is expected to increase capital capacity, accelerate business expansion, and open new collaboration opportunities to drive sustainable performance growth and enhance shareholder value. The AGM also approved the annual report and financial statements for the 2025 fiscal year. Throughout last year, IATA recorded revenue of US$79.64 million with a net profit of US$8.27 million, an increase of 7.73% compared to the previous year. The EBITDA margin also increased to 22.93% from 19.13% in 2024. In the operational sector, the company produced 3.42 million metric tonnes of coal and recorded sales of 3.51 million metric tonnes throughout 2025. By the end of the year, IATA had 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 the Work Plan and Budget (RKAB) to the Ministry of Energy and Mineral Resources to support the achievement of this target. Production will be supported by mines owned by PT Putra Muba Coal, PT Indonesia Batu Prima Energi, and PT Arthaco Prima Energy. The AGM also approved changes to the board composition. The company accepted the resignation of Santi Paramita as Commissioner, Henry Suparman as Vice President Director, and Anthony Putra Tjiptodihardjo as Director, as well as the dismissal of Andrea Frans Tambunan as Director due to a new assignment within the company. Shareholders appointed Christian as Director to fill the vacancy.