PT Fortune Indonesia Tbk.

Communications company targets coal mining transformation to boost revenue and long-term growth PT Fortune Indonesia Tbk. 53 billion (assuming an exchange rate of Rp17,730 per US$1). The company said the acquisition is designed to shift FORU from its traditional communications business into the coking coal mining industry, a move expected to significantly strengthen its financial performance and diversify its long-term revenue base. 09 billion new shares at an exercise price of Rp126 per share. 17 billion), will be used to acquire BP through an inbreng transaction.

The remaining funds will be provided as a loan to BP to finance working capital and mining operations. Betting on stronger coking coal demand According to FORU , BP operates a metallurgical coal mine in Murung Raya Regency, Central Kalimantan, covering approximately 15,000 hectares with coal quality reaching 7,850 kcal/kg (CV adb). 7 million tons. "The business prospects for coking coal remain attractive because they differ from thermal coal, which is facing slowing global demand. Coking coal is the primary raw material for the steel industry, so demand is expected to continue growing alongside steel industry expansion, particularly in India and Southeast Asia," FORU's management said on Monday, July 20, 2026.

762 billion tons in 2027. The company also highlighted India's ambition to expand steel production capacity to 300 million tons by 2030, a development expected to raise the country's coking coal demand from approximately 80 million tons to 135 million tons. Domestically, the Association of Indonesian Coke Industries (AICI) estimates Indonesia currently produces only around 3 million tons of coking coal annually, meeting just 20% of national demand. The remaining requirement is still supplied through imports, creating opportunities for domestic producers.

55 million per metric ton, over the next five years, supporting the sector's long-term investment outlook. Financial transformation Beyond expanding into mining, FORU expects the acquisition to fundamentally reshape its financial position. 3 million) following the consolidation with BP. 3 million) as a result of the new share issuance. 03 million), driven primarily by BP's mining operations and coking coal sales. 91 million). The acquisition is also expected to return the company to profitability. 15 billion. 09 billion. "The change is primarily driven by BP's net profit contribution as a metallurgical coal mining company," FORU's management added.

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