Trusted Partner

We strive for the most consistent, transparent engagement with all our shareholders. This ensures alignment between our growth aspirations and shareholder expectations. Looking ahead, TBS is committed to continuing our phase out of coal-mining operations and transition towards more sustainable divisions such as renewable energy, electric vehicles, and waste management. This strategic shift reflects our dedication to future-focused business practices amidst the evolving economic landscape.

Our capital investment strategy is one of long-term diversification. We are actively transitioning away from fossil fuel-based energy sources, like coal and coal-fired power plants, and towards more clean and sustainable businesses such as renewable energy, two-wheeled electric vehicles, and waste management. Our renewable-energy pipeline includes generating power from clean energy sources such as solar photovoltaic, wind, and hydraulic systems. With our two-wheeled electric vehicle initiatives, we are trying to provide cleaner transportation by moving away from the traditional combustion engine motorcycles across the whole of Indonesia.

This transition, though, needs to be done with a measured and structured approach. To do so, TBS has developed a transition framework and shared it with potential investors or lenders. At the moment, we are closely working with financial institutions that have completed similar transition financing frameworks, like Bank Mandiri and DBS Bank Singapore, to advise and guide us. These institutions have also been instrumental in helping us navigate and ensure compliance. Internally, we are one of the few listed Indonesian companies with an ESG Committee.

But even with all of these safeguards in place, we are not ignorant to potential accusations of greenwashing and a breach of trust with stakeholders. Our culture of full transparency is one way we are working to combat this. In addition, TBS2030 demonstrates our commitment to realizing these ambitions. The highest level of decision makers within our business, the Board of Directors, have also made a strong commitment to TBS' future business aspirations. They are very much behind our focus on diversifying and becoming a green business leading Indonesia into the future.

TBS recognizes the increasing linkage between business and geopolitics. This is why we are committed to maintaining a strong reputation for conducting business ethically. Through this, we envision flanking ourselves against running afoul of geopolitical pressures. Guiding us in this work is adherence to relevant United Nations principles and the Sustainable Development Goals. Our focus on transparency is also key.

While TBS has not implemented specific measures targeting geopolitical risks on a global scale, the Company has focused its risk mitigation strategies within Indonesia. This is where the majority of our stakeholders are, so it makes sense to focus on this segment first. Given that 60% of our cost of goods is attributable to coal-fired power plants, and considering the local sale of energy to State Electricity Company (the Indonesian state electricity company), TBS' approach to risk mitigation is primarily focused on ensuring stable and secure operations within Indonesia. This includes maintaining strong relationships with local suppliers and stakeholders, as well as adapting to local market dynamics to mitigate potential disruptions to supply and operations.

In response to other potential geopolitical uncertainties, TBS emphasizes the management of relationships with external stakeholders, both locally and internationally. This approach includes active community engagement, collaboration with organizations across a range of industries and sectors, as well as broad stakeholder dialogues.

At TBS, we recognize that becoming a trusted partner is a cornerstone of responsible and sustainable business practices. We achieve this through robust governance mechanisms that ensure adherence to regulations, transparency in our operations, and consistent progress towards our sustainability goals. As part of our commitment to the TBS2030 commitment and its corresponding action plans, we have adopted a comprehensive, hands-on approach to seamlessly integrate this with our business activities.

This management approach includes a number of key elements that reflect strong corporate governance. This starts at the top with our Board of Commissioners and Board of Directors. Risk management, ESG, and auditing are then entrusted to various committees throughout the business. The infrastructure supporting all this includes our corporate governance policies, charters, and operating procedures. Our robust whistleblower, data security, and anti-corruption mechanisms further strengthen our commitment to responsible business conduct.

Through this hands-on approach, TBS has been able to form strategic alliances that not only benefit our transformation, but also global sustainable development. It is a testament to our evolution as a business and illustrative of the collective engagement necessary to realize a better future. This collaborative spirit is aligned with the UN SDGs, which emphasize the importance of partnerships and collective action. Through effective collaboration, TBS has developed the right team, mindset, and partners to transform our aspirations into tangible results. We have also tapped into our critical role as a key player in energizing Indonesia’s green business landscape.