JAKARTA – PT Bayan Resources Tbk (BYAN), a coal mining company, announces the official plan to assign the contract for construction of jetty facility in Senyiur, East Kalimantan to its affiliate, PT Nirmala Matranusa (NMN).

The contract of this facility includes construction of foundation for fuel tank of 2 x 2,500 KL, riverbank protection wall for Kedang Kepala River, as well as permanent jetty in Muara Kaman.

“The contract value is IDR 167.72 billion,” said the management BYAN. The foundation for fuel tanks is projected to take up IDR 11.47 billion, while the riverbank project will cost BYAN IDR 41.74 billion. Lastly, the construction of permanent jetty is estimated to take up the highest cost of IDR 114.51 billion.

“With the construction of permanent jetty (Special Terminal) (CTB), the barging and distribution of coal supply logistics through Kedang Kepala River can be carried out smoothly, and the piling coal supply in the stockpile of Senyiur Jetty can be prevented,” said the management in the information disclosure in Indonesia Stock Exchange (IDX).

This transaction is categorised as an affiliate transaction, as BYAN and NMN are under the same controller, Dato' Low Tuck Kwong.

“The transaction value is 0.49% of the company’s equity recorded as of September 30, 2023. Thus, this transaction plan is not categorised as material transaction as stated in POJK No. 17/POJK.04/2020," the management of BYAN concluded. (ZH)