Aldira Sunrise 8 Oktober 2024

TOBA will buyback 816.78M shares
TBS Energi Utama (TOBA) will carry out a share buyback with an estimated 816,782,697 (816.78M) shares representing 10% of TOBA’s issued and paid-up capital. TOBA estimates that this corporate action will absorb as much as IDR 474.58B in funds, assuming the share buyback is fully implemented. The estimated buyback costs are calculated using the TOBA closing price on 4 Oct 24, which is IDR 580 per share. If the share price at the time of the buyback is different from the reference price, then the funds set aside by TOBA will adjust to the current share price on the IDX. Meanwhile, the costs for carrying out this share buyback will come from TOBA’s internal cash balance. (Kontan)
PGAS expands natural gas market in South Sulawesi
PGN (PGAS) targets natural gas development for the industrial sector of 15 BBTUD in the Sulawesi region. To achieve this potential, the company signed two Memorandums of Understanding (MOU) regarding the potential for developing natural gas utilization in South Sulawesi (Sulsel). First, PGN signed an MoU with KSO Indogawa and Siantar Tara Sejati to supply natural gas for power plants in South Sulawesi. The potential supply of natural gas for these needs is 5 BBTUD. Furthermore, PGN signed an MoU with the Pattene Industrial Area. The Pattene Industrial Area has an area of approximately 1,000 hectares (ha) and approximately 50 industrial tenants, so this collaboration is a strategic location to expand PGN’s market penetration. (IDX Channel)