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STRATEGIC MANAGEMENT

Lecturer : Mr. Ketut Arnaya

PT. Bukit Asam (Persero) Tbk.

Rita Mariana
00000001953

Management 2013 - Business School


Universitas Pelita Harapan
Lippo Karawaci Tangerang

NAMES OF COMPANY

PT. Bukit Asam (Persero) Tbk.

Head Office
Jl. Parigi No.1
Tanjung Enim 31716
Sumatera Selatan

Jakarta Representative Office


Menara Kadin Indonesia Fl. 15
Jl. H.R Rasuna Said
Blok X-5 Kav. 2-3
Jakarta 12950

Phone number : +62 734 451 096,


452 352
Fax
: +62 734 451 095,
452 993
Tanjung Enim Mining Unit

Phone number : +62 21 525 4014


Fax
: +62 21 525 4002

Jl. Parigi No.1


Tanjung Enim 31716

Jl. Stasiun Kereta Api


Palembang, South Sumatera

Phone number : +62 734 451 096,


452 352
Fax
: +62 734 451 095,
452 993

Phone number : +62 711 512 617


Fax
: +62 711 511 388

Tanjung Enim Briquette


Business Unit
Jl. Parigi No.1, Tanjung Enim
South Sumatera 31716
Phone number : +62 734 451 096,
452 352
Fax
: +62 734 451 095,
452 993
Teluk Bayur Port
Jl. Tanjung Periuk No.1
Teluk Bayur, West Sumatera
Phone number : +62 751 62 522,
31 996
Fax
: +62 751 63 533
Tarahan Port
Jl. Soekarno Hatta Km. 15
Tarahan, Bandar Lampung
Phone number : +62 721 31 545,

Kertapati Port

Ombilin Mining Unit


Sawahlunto
West Sumatera
Phone number : +62 754 61 021
Fax
: +62 754 61 402

Lampung Briquette Business


Unit
Jl. Raya Natar Km. 16
Natar, South Lampung
Phone number : +62 721 783 558
Fax
: +62 721 774 266

31 686
Fax

: +62 721 31 577

SHORT HISTORY OF THE COMPANY


THE COAL MINING IN TANJUNG ENIM WAS INITIATED BY THE DUTCH
COLONIAL GOVERNMENT IN 1919 BY OPERATING THE FIRST COAL MINE
USING OPEN PIT MINING METHOD IN AIR LAYA.
Using underground mining method, initial operation commenced in 1923
and lasted until 1940, while commercial production began in 1938.
When the Dutch Colonial period ended in Indonesia, the mining workers
fought for the nationalization of the mines. In 1950, the Indonesian
Government approved the establishment of State-Owned Bukit Asam Coal
Mine or Perusahaan Negara Tambang Arang Bukit Asam (PN TABA).
In 1981, PN TABA converted its status to a limited liability company under
the name of PT Tambang Batubara Bukit Asam (Persero) Tbk, further
called the Company. To develop coal industry in Indonesia, in 1990 the
Government merged Perum Tambang Batubara with the Company.
In line with the national energy security development program, in 1993
the Company was assigned by the Government to develop coal briquette
business.
On December 23, 2002 the Company became a publicly listed company
on the Indonesian Stock Exchange under the code of PTBA

CULTURE

Work smart
through

work smart

work sincere

work

VISIONS
A world-class environment-care energy company

MISSIONS
Managing the resources of energy by developing corporate competence
and human excellence to provide maximum added value for stakeholders
and environment.

MEANING
To dedicate the resources of energy for a better life of world and earth.

OUR COMMITMENT
We are committed to actualizing the vision, mission and values of PTBA
and to established the company culture as the foundation of the long term
success.

VALUES

Visionary

Integrity

Innovative

Work Sincere

Cost

and
Environme
nt Awareness

LINE OF BUSINESS OF THE COMPANY

Coal mining,processing and trading for domestic and export


Type of 8 types of coal produced:

THE CHIEF EXECUTIVE OFFICER of PT. Bukit Asam


(Persero) Tbk.

Mr. Milawarma
(Desember 2001-

Present)

ORGANIZATION STRUCTURE OF COMPANY

TOTAL EMPLOYEES

There are 2903 full-time employees

TOTAL BRANCHES OR SISTER COMPANIES / SUBSIDIARIES

PT BATUBARA BUKIT KENDI


PT Batubara Bukit Kendi was formed in 1996 with 75% shareholding
engaged in coal mining areas. Since 2010, the company is not operating
due to IPPKH permit issue.

PT BUKIT PEMBANGKIT INNOVATIVE


PT Bukit Pembangkit Innovative was formed in 2005 with 59.75%
shareholding engaged in steam power plant which is currently under
construction to build PLTU 2x110MW in Banjarsari, South of Sumatera.

PT BUKIT ASAM PRIMA


PT Bukit Asam Prima is formed in 2007 with 99.99% shareholding
engaged in coal trading. The company has operated since 2007.

PT INTERNASIONAL PRIMA COAL


PT Internasional Prima Coal was acquired by PTBA in 2008 with 51%
shareholding engaged in coal mining in Samarinda, East of Kalimantan.
The company has commercially started since 2010.

PT BUKIT ASAM BANKO


PT Bukit Asam Banko is formed in 2008 with 65% shareholding engaged in
coal mining. The company has not started yet.

PT BUKIT ASAM TRANSPACIFIC RAILWAYS


T Bukit Asam Transpacific Railways is formed in 2008 with 10%
shareholding engaged in coal transportation with train from Tanjung Enim
to Lampung. Currently, the company is in development.

PT HUADIAN BUKIT ASAM POWER


PT Huadian bukit Asam is formed in 2011 with 45% shareholding engaged
in steam power plant. Currently, the company is in development.

PT BUKIT ASAM METHANA ENIM


PT Bukit Asam Methana Enim is formed in 2007 with 99.99% shareholding
engaged in methane gas mining. Currently, the company is in
development.

PT BUKIT ASAM METANA OMBILIN


PT Bukit Asam Metana Ombilin is formed in 2007 with 99.99%
shareholding engaged in methane gas mining. The company has not
started yet.

PT BUKIT ASAM METANA PERANAP


PT Bukit Asam Metana Peranap is formed in 2007 with 99.99%
shareholding engaged in methane gas mining. The company has not
started yet.

PT BUKIT MULTI INVESTAMA


PT Bukit Multi Investama is formed on September 9, 2014 located on
Gedung Menara Kadin Indonesia Lt. 9, Jl. HR Rasuna Said Blok X-5 Kav 2-3
Jakarta. The company specialized on general trade, services, printing,
construction, industry, land transport, plantation and farming,
management and property.

SWOT ANALYSIS
1.

Strengths
One of the Top Performing Listed Companies
Indonesia is rich of natural resources-coals
Has been long established since the dutch colony 1919
Has many subsidiaries
IUP has made it possible for domestic and foreigner investors
2.
Weakneses
Many competitors, there are 25 public companies in this industry
Poor Infrastructure & logistic facility in Indonesia, hampering the work
Difficult to get Skilled manpower(Operator, Driver, Mechanic, Engineers,
Geologist)
Law is silent on Mineral and Coal conservation and recovery percentage
for effective economic Mining Operation.
Coal is a limited natural resources.
Tough labour law
3.
Opportunities
Potential areas for exploration ventures include Coking Coal, Thermal
Coal, gold, Silver, Lead,Iron Zircon & other rare metals.
Strengthening of logistics infrastructure such as railways projects, road
development, ports,river dredging project to accelerate the Coal &
mineral movement round the year.
Processing of Low grade Coal and mineral for its up gradation in quality
parameter and further export.
Exploring the possibility of Underground Mining/CBM technology process
after Open cast Mining for best recovery of mineral
4. Threats
Land acquisition from land owner, Plantation Company & Forest
department may block theproject at any time.
Domestic market obligation by all IUP holders, while its pricing and
percentage still remain uncertain.
Indonesia Government may ban on export of low grade Coal without up
gradation.
Strict environmental law, purification, land acquit ion process will impact
on economic

BUSINESS STRATEGIC
Annual plan

Building two extra Tarahan Power Plants. the power generation segment will generate a total power of
1,506MW by the end of 2015 (with potential income of IDR 5.73 trillion per year and low rank coal types
consumption of 6,650 tons per year).

Long term plan


company's expansion to power plants also means that Bukit Asam will have a new revenue source as it
sells electricity to state-owned company Perusahaan Listrik Negara (PLN), the sole electricity
provider in Indonesia. Bukit Asam also has a long-term and lucrative contract with PLN to supply coal to
the electricity company until 2030

Financial statement of the company


Income Statement
Currency in
Millions of Indonesian Rupiahs

As of:

Revenues
TOTAL REVENUES
Cost of Goods Sold
GROSS PROFIT
Selling General & Admin Expenses, Total
Other Operating Expenses
OTHER OPERATING EXPENSES, TOTAL
OPERATING INCOME
Interest Expense
Interest and Investment Income
NET INTEREST EXPENSE
Income (Loss) on Equity Investments
EBT, EXCLUDING UNUSUAL ITEMS
EBT, INCLUDING UNUSUAL ITEMS
Income Tax Expense
Minority Interest in Earnings
Earnings from Continuing Operations
NET INCOME
NET INCOME TO COMMON INCLUDING
EXTRA ITEMS
NET INCOME TO COMMON EXCLUDING
EXTRA ITEMS

31-Dec
2013
IDR
11,209,219.0
0
11,209,219.
00
7,671,831.0
0
3,537,388.0
0
1,606,231.0
0
-221,681.00
1,384,550.0
0
2,152,838.0
0
-6,225.00
239,870.00
233,645.00
74,879.00
2,461,362.0
0
2,461,362.0
0
607,081.00
-28,137.00
1,854,281.0
0
1,826,144.0
0
1,826,144.0
0
1,826,144.0
0

31-Dec
2014
IDR
13,077,962.00
13,077,962.00
8,995,932.00
4,082,030.00
1,688,385.00
83,447.00
1,771,832.00
2,310,198.00
-48,701.00
267,647.00
218,946.00
145,582.00
2,674,726.00
2,674,726.00
655,512.00
-3,043.00
2,019,214.00
2,016,171.00
2,016,171.00
2,016,171.00

Balance Sheet
Currency in
As of:
Millions of Indonesian Rupiahs
Assets
Cash and Equivalents
Short-Term Investments
TOTAL CASH AND SHORT TERM
INVESTMENTS
Accounts Receivable
Other Receivables
TOTAL RECEIVABLES
Inventory
Prepaid Expenses
Other Current Assets
TOTAL CURRENT ASSETS
Gross Property Plant and Equipment
Accumulated Depreciation
NET PROPERTY PLANT AND EQUIPMENT
Long-Term Investments
Deferred Tax Assets, Long Term
Other Long-Term Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Accounts Payable
Accrued Expenses
Short-Term Borrowings
Current Portion of Long-Term Debt/Capital
Lease
Current Income Taxes Payable
Other Current Liabilities, Total
Unearned Revenue, Current
TOTAL CURRENT LIABILITIES
Long-Term Debt
Minority Interest
Pension & Other Post-Retirement Benefits
Other Non-Current Liabilities
TOTAL LIABILITIES
Common Stock
Additional Paid in Capital
Retained Earnings
Treasury Stock
Comprehensive Income and Other
TOTAL COMMON EQUITY
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY

31-Dec
2013

31-Dec
2014

3,343,905.00
86,995.00

4,039,267.00
296,492.00

3,430,900.00

4,335,759.00

1,427,572.00
230,593.00
1,658,165.00
901,952.00
216,223.00
272,543.00
6,479,783.00
5,196,038.00
-1,399,958.00
3,796,080.00
628,327.00
514,242.00
258,723.00
11,677,155.00

1,439,401.00
147,431.00
1,586,832.00
1,033,360.00
166,403.00
294,451.00
7,416,805.00
7,514,932.00
-1,704,894.00
5,810,038.00
936,346.00
227,948.00
420,886.00
14,812,023.00

471,879.00
1,371,424.00
44,795.00

545,505.00
1,259,337.00
826,428.00

33,095.00

467,235.00

82,620.00
122,354.00
134,789.00
2,260,956.00

1,755.00
205,237.00
268,632.00
3,574,129.00
961,753.00
117,231.00
1,458,168.00
147,131.00
6,141,181.00
1,152,066.00
30,486.00
9,205,393.00
-1,899,413.00
65,079.00
8,553,611.00
8,670,842.00
14,812,023.00

-114,188.00
1,630,794.00
233,836.00
4,125,586.00
1,152,066.00
30,486.00
8,093,505.00
-1,899,413.00
60,737.00
7,437,381.00
7,551,569.00
11,677,155.00

2013
PROFITIBALITY RATIO
GROSS PROFIT MARGIN
= 3,537,388 = 0.32
11,209,219
OPERATING PROFIT MARGIN
= 2,152,838 = 0.19
11,209,219
NET PROFIT MARGIN
= 1,826,144 = 0.16
11,209,219
TOTAL RETURN ON ASSETS
= 1,826,144+ 607,081 = 0.176
11,677,155
ROA
= 1,826,144 + 233,645(1-25%) =
0.17
11,677,155
ROE
= 1,826,144
= 0.225
7,551,569
ROCE
= 1,826,144
= 0.24
7,551,569 + 0
LIQUIDITY RATIOS
CURRENT RATIO
= 6,479,783 = 2.87
2,260,956
WORKING CAPITAL
= 6,479,783 - 2,260,956
=4,218,827
LEVERAGE RATIO
TOTAL DEBT-TO ASSETS RATIO
= 4,125,586 = 0.35
11,677,155
LONG TERM DEBT TO CAPITAL RATIO
= 1,864,630
= 0.198
1,864,630 +7,551,569.00

2014
PROFITIBILITY RATIO
GROSS PROFIT MARGIN
= 4,082,030 = 0.31
13,077,962
OPERATING PROFIT MARGIN
= 2,310,198 = 0.18
13,077,962
NET PROFIT MARGIN
= 2,016,171.00 = 0.154
13,077,962
TOTAL RETURN ON ASSETS
= 2,016,171+ 218,946= 0.15
14,812,023.00
ROA
= 2,016,171 + 218,946(1-25%)

=0.16
(14,812,023+ 11,677,155)/2
ROE
= 2,016,171
=
0.249
(8,670,842 +7,551,569)/2
R0CE
= 2,016,171
=0.21
961,753+ 8,670,842.00

LIQUIDITY RATIO
CURRENT RATIO
= 7,416,805 = 2.08
3,574,129
WORKING CAPITAL
= 7,416,805-3,574,129
= 3,842,676
LEVERAGE RATIO
TOTAL DEBT-TO ASSETS RATIO
= 61411
=0.414607849
14,812,023
LONG TERM DEBT TO CAPITAL
RATIO
= 961,753
=
0.0998
961,753+8,670,842.00

RECOMMENDATION
Government authority have to accelerate the process of transparency in
regulations for Investor ,Mining and Forest Area ,Land acquition, Labour
laws and do infrastructure development forconfidence of Investor to start
Mining Operation and support the region by forbetter mineral conservation
as well as maintaining eco balance of the area with fund as available from
Mining Industry.

sources :
http://ptba.co.id/en/about/business
http://www.scribd.com/doc/66243852/S-W-O-T-Analysis-for-Indonesia-CoalMining-With-special-reference-to-Central-Kalimantan-Sanjay-Singh#scribd
http://asia.nikkei.com/Company/05W3TX-E
https://www.google.co.id/search?
q=PT+BUKIT+ASAM+LONG+TERM+PLAN&oq=PT+BUKIT+ASAM+LONG+T
ERM+PLAN&aqs=chrome..69i57j69i59l3j69i60l2.8170j0j4&sourceid=chrom
e&es_sm=93&ie=UTF-8
http://www.indonesia-investments.com/upload/bedrijfsprofiel/233/tambangbatubara-bukit-asam-annual-report-2012-ptba-laporan-tahunan-companyprofile-indonesia-investments.pdf