NTBK Plans IDR 500 Billion Rights Issue to Fund Expansion into EV Trucks and Export Business
KONTAN.CO.ID - JAKARTA. PT Nusatama Berkah Tbk (NTBK) has begun accelerating into a new phase of expansion by strengthening its electric vehicle business and venturing into export-based businesses.
This move is being undertaken amidst the weakening Rupiah, which the company views as an opportunity to increase its revenue in US dollars.
The President Director of Nusatama Berkah, Bambang Susilo, said that the company is preparing several funding options to support its expansion, including a rights issue, private placement, and bond issuance.
“We are currently raising funds. One of the options is a rights issue. However, other options such as private placement and bond issuance remain open,” said Bambang during a public presentation on Wednesday (May 13, 2026).
The proceeds from these corporate actions will be focused on strengthening its core electric vehicle business while also expanding production capacity.
Approximately 40% of the funds will be injected into its subsidiary, PT Pilar Pratama Dinamika, while 28% will be allocated for the second phase of construction of an assembly plant.
In addition, 16% of the funds will be used for working capital and the development of the EV business, 10% for a planned acquisition in the mining sector, and 6% for the initial phase of construction of the assembly plant.
Outside of electric vehicles, NTBK is also starting to expand its portfolio into export-based businesses to strengthen its revenue in US dollars.
One of the steps taken is exploring the acquisition of a quicklime processing company in West Nusa Tenggara (NTB), as well as finalizing the consolidation with a mineral and coal exporting company.
This move aims to create a balance between Rupiah and US dollar revenues, making it more resilient to exchange rate fluctuations.
“In the future, we hope that our subsidiaries will generate more revenue in US dollars from exports of minerals, nickel, and coal. This way, the exchange rate risk can be mitigated,” explained Bambang.
In its core business, NTBK is becoming increasingly aggressive in targeting the EV truck market for the mining and logistics sectors. The company has partnered with a Chinese principal to introduce heavy-duty electric trucks based on Mercedes-Benz technology designed for mining terrains.
The Director of NTBK, Ismu Prasetyo, said that the main advantage of EV trucks lies in their operational cost efficiency. Total savings in ownership and operating costs can reach 20%–30% compared to diesel trucks.
“The maintenance of electric vehicles is also lower because they have fewer components than diesel vehicles,” he said.
Several trials have also been conducted with logistics companies such as Samudera Indonesia and operators in the Tanjung Priok area.
However, challenges still exist, especially regarding the availability of charging infrastructure in mining areas.
Amidst the entry of strategic investors and plans for major expansion, management has affirmed that the ownership structure will be maintained to prevent changes in company control.
“So this is not a takeover. We want to expand while maintaining majority control in the entities that will be consolidated,” said Bambang.