PT Harum Energy Tbk is a holding company, established in 1995, with a portfolio of
businesses engaged in coal mining and logistics activities in East Kalimantan, Indonesia.
PT Harum Energy Tbk (the Company) was originally established as PT Asia Antrasit, based on Notarial Deed No. 79 dated October 12, 1995. Based on Notarial Deed No. 30 dated November 13, 2007 of James Herman Raharjo, S.H., notary in Jakarta, PT Asia Antrasit’s name was changed to PT Harum Energy and the Company’s Articles of Association was amended to conform to Law No. 40 year 2007 on Limited Liability Companies.
In accordance with Article 3 of the Company’s Articles of Association, the scope of its business activities is mainly to engage in mining, industry, trading and services industries. Currently, the main business activities of the Company areoperating and investing in coal mining and logistics through its subsidiaries.
Throughout its business journey, the Company is consistently expanding to become a prominent mining company. The Company’s major advantage lies in its vertically-integrated supply chain, linking its mine sites to the offshore ship loading, and also in the key infrastructure it owns, such as hauling roads, ports, coal processing plants, fleet of tugboats and barges, and a preferential access to floating cranes.
The Company’s mining activities operates through its four subsidiaries, namely PT Mahakam Sumber Jaya (MSJ), PT Santan Batubara (SB), PT Tambang Batubara Harum (TBH), and PT Karya Usaha Pertiwi (KUP). MSJ started to conduct commercial coal mining operations in 2004 and followed by SB which is a joint venture company in 2009. Meanwhile, both TBH and KUP are expected to commence operations in 2017, in relation to the current unfavorable market condition.
On the other side, to further strengthen the Company’s position in the competition maps, the Company also owns PT Layar Lintas Jaya (LLJ), a coal barging and transshipment company. The Company also runs investment activity though its subsidiary, Harum Energy Capital Limited, and by end of 2015 owns 5.39% shares of Australian-based Cockatoo Coal Limited.
Along with tested capabilities and excellence, the Company was confident to become a public company. On October 6, 2010, the Company conducted an Initial Public Offering of 500,000,000 shares with nominal value Rp100 per share at an offering price of Rp5,200 per share. Since then, the Company’s shares was officially listed in the Indonesia Stock Exchange with the ticker code HRUM.
By capitalizing on its excellent capabilities, the Company has successfully marketed its coal to various customers in domestic and international markets in Asia such as Japan, South Korea, Taiwan, China, and India. The reputation in providing the best quality has earned the Company several proud achievements. In 2012, the Company was recognized as one of the 100 Best Companies in Indonesia by Fortune Indonesia and as one of the 200 Best Under A Billion and Best Return on Investment by Forbes Asia. Furthermore, in 2013 the Company for the first time was included in the MSCI Global Small Cap Indices.
In the midst of ongoing weak global coal industry, the Company started a share buyback program in 2015. This reflects the Company’s efforts to maintaining the stability of its share price and address the negative market sentiment during the year.