Adaro Energy Tbk PT : Joint Declaration of Increased Rupiah Transactions
October 11, 2018 at 10:58 am
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(3/10/2018) PT Adaro Energy Tbk signed a declaration of increased rupiah transactions with its contractors and partners. The agreement was delivered at the Ministry of Finance of the Republic of Indonesia by President Director Adaro Garibaldi Thohir along with the President Commissioner of PT Adaro Energy Tbk (Adaro) Edwin Soeryadjaya; Deputy President Commissioner Adaro Ir. Theodore Permadi Rachmat and Adaro's partners and contractors, PT Pertamina's Finance Director Pahala N Mansury; Director of PT Saptaindra Sejati Asep Kusmana; President Director of PT Pama Persada Frans Kesuma and Director of PT Bukit Makmur Mandiri Utama Una Lindasari in Jakarta.
Indonesian Finance Minister Sri Mulyani Indrawati witnessed the signing accompanied by the Director General of PPR, Lucky Alfirman, and appreciated Adaro's initiative to support the government's steps to stabilize the rupiah exchange rate by inviting business partners and company contractors to increase rupiah transactions in the company's business operations. Through this agreement, Adaro's export proceeds (DHE) within a year, after being reduced by the company's obligations, will all be converted into rupiah. The total value is estimated at around USD 1.7m.
Finance Minister Sri Mulyani revealed 'I am grateful that Adaro did this as a mining exporter, and I am sure this will soon lead to public confidence. We are here to provide support for Adaro's initiative and call on all other economic actors so that we all pay attention about the Indonesia's economy.
PT Adaro Energy Tbk published this content on 11 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 October 2018 09:57:06 UTC
PT Adaro Energy Indonesia Tbk is engaged in mining, quarrying, mining support services, trading, transportation, warehousing and transportation support services, cargo handling (stevedoring), sea-port service activities, agriculture, construction, repair and installation of machines, power supply, water treatment, and forestry and industry. The Companyâs businesses include mining, services, power, logistics, land, water, capital, and foundation. The Company, through its subsidiary, PT Adaro Indonesia (AI), is involved in coal mining operations and produces its flagship thermal coal product, Envirocoal, a sub-bituminous coal with medium calorific value (CV) and ultra-low pollutant content. Its PT Saptaindra Sejati (SIS), provides a range of services for the coal mining industry, which covers many aspects from contract mining services, civil works, and infrastructure development to land logistics. Its PT Indonesia Bulk Terminal provides services for coal and fuel handling.