About Barito Pacific
Barito Pacific (IDX: BRPT) is a fully diversified resource-based enterprise engaged in the forestry, petrochemicals, property, and plantation industry sectors, and also has interests in the mining and energy sectors, among other developments.
Barito Pacific Headquarter Location
Wisma Barito Pacific, Tower B, Lt.8 Jl. Letjen S. Parman Kav. 62-63
+62 21 5306711
Latest Barito Pacific News
May 6, 2021
The Insiders Stories By PT Barito Pacific Tbk (IDX: BRPT) will distribute total dividends of US$18 million or equal to 50 percent of last year net profit - Photo: Privacy JAKARTA (TheInsiderStories) – Conglomeration firm, PT Barito Pacific Tbk (IDX: BRPT) will distribute total dividends of US$18 million or equal to 50 percent of last year net profit, the management announced yesterday (05/05). Last year, the company owned by Prajogo Pangestu posted a net profit US$141 million in 2020 from $136 million in 2019 with net income of $2.3 billion and EBITDA $598 million. Director of the company, David Kosasih, in this year the management expect the financial performance will improve followed by the government’ effort to tackle the COVID-19 pandemic. The group has prepared various project to reached the targets. In the energy sector, he explained, Barito is working on the Java 9 and Java 10 Steam Power Plant projects with an investment costs around $3.3 billion and will have total capacity of 2×1,000 megawatts (MW). The commercial operation date (COD) of the two projects is targeting in 2025. Its subsidiary, PT Star Energy Geothermal is also run a number of geothermal projects such as Sekincau in West Lampung and Hamiding in North Halmahera. Now, the unit in the process making an infrastructure for the implementation of exploration drilling in early 2022. The COD of other project, Salak Binary Geothermal Power Plant with a capacity of 15 MW is planned in 2022. In the petrochemical business, PT Chandra Asri Petrochemical Tbk (IDX: TPIA) build petrochemical factory complex in Cilegon, Banten. Kosasih said, the $5 billion investment project will increase the manufacturer’ production capacity from 4.2 million tones to above 8 million tones per annum and is targeted to be completed in 2026. To support all the unit business needs in this year, Barito has budgeted a capital expenditure of $175 million and for the next five years prepared $8.32 billio. So far, the company was able to complete seven projects with a total investment of $4.31 billion. Barito’ involvement in Jawa 9 and 10 through PT Indo Raya Tenaga , consortium with PT Indonesia Power, the unit of state electricity producer, PT Perusahaan Listrik Negara. The project is located in Suralaya, Banten with a debt to equity ratio of 75:25. The construction of the project has been started since October 2020 and is targeted to completed in 2023. Then, the geothermal business managed by Singapore-based Star Energy Ltd., continues to explore. Currently, the project is still in the initial survey process, such as the right to match the best tender offer as a license to develop resource areas in Hamiding in North Halmahera and Sekincau in West Lampung. President director of Barito , Agus Salim Pangestu added, apart from the expansion, the key to of the company’ future growth is efficiency. For an example, the holding company invites a strategic partners to expand the Chandra Asri’ petrochemical project. The compan was founded on April 4, 1979, under the name PT Bumi Raya Pura Mas Kalimantan. Its core business are power generation and petrochemical production, with industrial assets in renewable and resource-oriented sectors with significant growth potential through business diversification and vertical integration. In 2007, Barito obtained majority ownership in Chandra Asri and in 2008 acquired PT Tri Polyta Indonesia Tbk, which was later merged into Chandra Asri in 2011. The unit is the largest single integrated petrochemical company in Indonesia with an installed production capacity. currently at 3,458 kilo tones per annum. In June 2018, the company also acquired majority ownership in Star Energy, the largest geothermal company in Indonesia and the third largest in the world, which operates 875 MW of geothermal installed capacity. US$1: Rp14,400 TAGS