JAKARTA (Yosefardi) – PT Toba Bara Sejahtera Tbk (TOBA) plans to acquire a coal miner in East Kalimantan next year, to boost its performance and profitability.
The company has bank loan facility of US$35 million and internal cash of US$64.3 million, used to fund the business expansion.
TOBA, which operates some coal mines in East Kalimantan, booked net profit of US$17.04 million in the first nine months of 2014, jumped by 95% from the corresponding period of 2013.
Unlike other coal producers, TOBA reported strong revenue growth of 31% to US$390 million in the period.
TOBA also plans to build palm oil mill next year which costs US$10 million.