Orias Asked to Build a World-Class Company
11:18 AM
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Managing Director of PT Inalum
Orias Petrus Moeolak was officially appointed as Managing Director of PTnalum (Persero), replacing Budi Gunadi Sadikin. His main task is to build a holding of a world-class mining industry SOE and succeed in the downstream program of the mineral mining industry in the country.
Erick Thohir
Minister of State Owned Enterprises (BUMN) Erick Thohir said, the general meeting of shareholders of PT Indonesia Asahan Aluminum (Inalum) had ratifies Orias Petrus Moedak as the new managing director. Orias replaces Budi Gunadi Sadikin, who was appointed as Deputy Minister of BUMN I in the Advanced Indonesia Cabinet.
Budi Sadikin
"Mr. Budi Sadikin has laid the foundation of holding (the holding company) of the mining industry and builds good synergy between holding members. I hope Mr. Orias can continue the baton and pursue the targets that must be achieved, especially related to the downstreaming of mining materials and building world-class mining industry companies, "Minister Erick Thohir said in an official statement in Jakarta.
Erick said, with the support of Budi Sadikin who is now the Deputy Minister of BUMN developing the mining industry, he is confident that the leadership transition at PT Inalum as an aluminum-producing company and as a holding of the mining industry BUMN will run smoothly. Orias is expected to continue to maintain aspects of good corporate governance (GCG) which have been good.
PT Freeport Indonesia
The BUMN mining holding company was formed on November 29, 2017. As the holding company is Inalum, with holding members are PT Antam Tbk, PT Bukit Asam Tbk, PT Timah Tbk, and PT Freeport Indonesia. The parent company has recently been transformed into Mining Industry Indonesia (MIND ID).
Based on data from the Indonesia Stock Exchange, the price of gold shares of PT Antam Tbk was recorded to increase after the holding establishment, from Rp 665 per share on November 29, 2017 to Rp 815 on November 25, 2019, or rose by 22.56%. While PT Timah Tbk's share price weakened, from Rp 845 per share to Rp 785, or decreased by 7.1%.
Meanwhile, Orias Petrus, who was born in Kupang, East Nusa Tenggara (NTT) on August 26, 1967, previously served as Deputy Director of PT Freeport Indonesia. Orias is also not a new person in the SOE environment, he was previously the finance director of PT Inalum. Orias also served as finance director of PT Bukit Asam Tbk in 2017-2018. Prior to that, Orias served as managing director of PT Pelabuhan Indonesia (Pelindo) III in 2016-2017 and Finance Director of PT Pelindo II in 2014-2016.
Before working for BUMN, Orias worked in the private sector, including in the capital market sector. Orias was a corporate director Finance of PT Bahana Securities in 1994. In addition, director of PT Reliance Sekuritas Tbk, managing director of Indonesia coverage of Daiwa Capital Markets Singapore Limited in 2010, managing director of PT Danareksa Sekuritas, and senior auditor Ernst & Young in 1992.
Will Acquisition Vale
At present, Inalum which is the holding company of the mining industry is in the process of acquiring shares of PT Vale Indonesia Tbk, which producing nickel. This nickel is a strategic mining material, which can be used as raw material for steel and battery industries electric vehicles, which are the Indonesian government's program going forward. Special Staff of SOE Minister Arya Sinulingga said the government appointed Orias to be the main director of Inalum, because it was considered to have a capable ability to lead the SOE holding of the mining industry.
"President Director of Mr. Orias, the president commissioner does not yet exist, but the commissioner has increased by one namely Arya Sinulingga. Mr. Orias was appointed as president because he has a very good ability in the mining sector. Not only that, his personality was also judged to be straight and Mr Erick Thohir said his character was okay, "he said when met at the SOE Ministry office, Jakarta.
In the same place, Orias claimed to have just received a decree (SK) establishing himself as the president of Inalum on Monday (11/25). The decree was given by Deputy Minister of BUMN Kartika Wirjoatmodjo. Orias said that he would carry out the mandate as the managing director of Inalum, in accordance with the program that has been done now. He will also continue and complete some work that is still being processed by Inalum, one of which is completing the acquisition of a 20% stake in PT Vale Indonesia Tbk.
"There are several things done by Inalum, yes, we are safe, such as the Vale transaction will be completed. Then another thing, to continue what is already in accordance with the vision and mission of Inalum, "said Orias.
Inalum as a mining holding with members of Bukit Asam, PT Timah Tbk, Antam, and Freeport Indonesia, until the end of June, posted revenues of Rp 38.01 trillion. This is up 27.34% compared to the same period in the previous year's income of Rp 29.85 trillion. While the profit was recorded at Rp 579.05 billion, down significantly from the same period last year's profit of Rp 5.4 trillion.
Bank Funds of USS 500 Million
Inalum has signed a Preliminary Agreement on the acquisition of Vale's shares with Vale Canada Limited (VCL) and Sumitomo Metal Mining (SMM) last October 11th. Inalum has also obtained from a US $ 500 million syndicate of banks to fund the acquisition of a 20% stake. Inalum's Director of Operations Ogi Prastomiyono explained, this syndication came from three banks, namely MUFG, Bank Mandiri, and ICBC. It only needs to withdraw these funds to complete the acquisition. The acquisition process is targeted to be completed no later than mid-2020.
"That (USS 500 million) is our budget, the valuation is below that. But, we budget USS 500 million, "he said.
He said he still had to complete the sales purchase agreement, share holders agreement, and off taker agreement documents. He said, mid-December there will be a signing of a Conditional Sale and Purchase Agreement (CSPA) document.
"So, there is a CSPA first, it is expected to be completed by mid December. Realization is the latest by June next year, "he said.
Meanwhile, related to the performance target next year, Ogi admitted that the discussion of the Work Plan and Corporate Budget (RKAP) had not yet been completed. However, with the weakening of mining commodity prices, he acknowledged, the company's production target will not be much different from this year.
"I can't say the number yet, but it's more or less the same as this year. Because of the price factor, therefore it is still stagnant, "Ogi said.
Ogi detailed, for coal production by Bukit Asam will remain the same as this year. Until last September, Bukit Asam recorded coal production of 21.6 million tons, up 10% compared to the realization of the same period last year of 19.6 million tons. The same thing happened for mine production from Antam. Because of the ban on nickel ore exports, Antam has not been able to maximize its production. Moreover, Antam has just operated Pomala Smelter to accommodate production.
"Another Antam smelter will also be operational at the end of 2020. On the other hand, we will encourage gold sales to boost sales growth," he explained.
In its official statement, Antam recorded ferronickel production volume until the end of the third quarter of 19,052 tons of nickel in ferronickel (Tni). While the total volume of gold production from the Pongkor and Cibaliung mines reached 1,485 kg or 47,743 ounces.
IN INDONESIA
Direktur Utama PT Inalum
Orias Diminta Bangun Perusahaan Kelas Dunia
Orias Petrus Moeolak resmi diangkat menjadi direktur utama PT lnalum (Persero), menggantikan Budi Gunadi Sadikin. Tugasnya utamanya membamgun holding BUMN industri pertambangan kelas dunia dan menyukseskan program hilirisasi industri bahan tambang mineral di Tanah Air.
Menteri Badan Usaha Milik Negara (BUMN) Erick Thohir mengatakan, rapat umum pemegang saham PT Indonesia Asahan Aluminium (Inalum) telah
mengesahkan Orias Petrus Moedak sebagai direktur utama (dirut) yang baru. Orias menggantikan Budi Gunadi Sadikin, yang ditunjuk menjadi Wakil menteri BUMN I pada Kabinet Indonesia Maju.
“Pak Budi Sadikin telah meletakkan pondasi holding (induk perusahaan) industri pertambangan dan membangun sinergi antar anggota holding dengan baik. Saya berharap Pak Orias dapat melanjutkan tongkat estafet dan mengejar target-target yang harus dicapai, khususnya terkait hilirisasi bahan tambang dan membangun perusahaan industri pertambangan kelas dunia,” kata Menteri Erick Thohir dalam keterangan resmi di Jakarta.
Erick mengatakan, dengan didukung Budi Sadikin yang kini sebagai Wakil Menteri BUMN yang membina industri pertambangan, ia yakin transisi kepemimpinan di PT Inalum sebagai perusahaan produsen aluminium maupun sebagai holding BUMN industri pertambangan akan berlansung lancar. Orias diharapkan terus mempertahankan aspek good corporate governance (GCG) yang selama ini sudah baik.
Holding BUMN industri pertambangan tersebut dibentuk pada 29 November 2017. Sebagai induk perusahaan adalah Inalum, dengan anggota holding adalah PT Antam Tbk, PT Bukit Asam Tbk, PT Timah Tbk, dan PT Freeport Indonesia. Induk perusahaan tersebut beIakangan telah bertransformasi menjadi Mining Industry Indonesia (MIND ID).
Berdasarkan data Bursa Efek Indonesia, harga saham produsen emas PT Antam Tbk tercatat meningkat pasca pembentukan holding, dari Rp 665 per saham pada 29 November 2017 menjadi Rp 815 pada 25 November 2019, atau menguat 22,56%. Sedangkan harga saham PT Timah Tbk melemah, dari Rp
845 per saham menjadi Rp 785, atau menurun 7,1%.
Sementara itu, Orias Petrus yang lahir di Kupang, Nusa Tenggara Timur (NTT) pada 26 Agustus 1967 itu sebelumnya pernah menjabat sebagai Wakil direktur utama PT Freeport Indonesia. Orias juga bukan orang baru di lingkungan BUMN, ia sebelumnya menjabat direktur keuangan PT Inalum. Orias juga pernah menjabat direktur keuangan PT Bukit Asam Tbk tahun 2017-2018. Sebelum itu, Orias menjabat sebagai direktur utama PT Pelabuhan Indonesia (Pelindo) III pada 2016-2017 dan Direktur Keuangan PT Pelindo II pada 2014-2016.
Sebelum bekerja di BUMN, Orias pernah bekerja di sektor swasta, termasuk di sektor pasar modal. Orias pernah menjadi direktur corporate
Finance PT Bahana Securities pada 1994. Selain itu, direktur PT Reliance Sekuritas Tbk, managing director head of Indonesia coverage Daiwa Capital Markets Singapura Limited pada 2010, managing director PT Danareksa Sekuritas, dan senior auditor Ernst &Young pada 1992.
Akan Akuisisi Vale
Saat ini, Inalum yang merupakan induk holding industri pertambangan sedang dalam proses mengakuisisi saham PT Vale Indonesia Tbk, yang memproduksi nikel. Nikel ini merupakan bahan tambang strategis, yang dapat digunakan sebagai bahan baku industri baja maupun baterai untuk kendaraan listrik, yang menjadi program pemerintah Indonesia ke depan. Staf Khusus Menteri BUMN Arya Sinulingga mengatakan, pemerintah menetapkan Orias menjadi direktur utama Inalum, karena dinilai memiliki kemampuan yang mumpuni untuk memimpin holding BUMN industri pertambangan itu.
“Direktur Utama-nya Pak Orias, komisaris utama belum ada, tetapi komisarisnya bertambah satu yaitu Arya Sinulingga. Pak Orias ditunjuk sebagai dirut lantaran memiliki kemampuan yang sangat bagus di bidang pertambangan. Tidak hanya itu, pribadinya juga dinilai lurus dan kata Pak Erick Thohir akhlaknya oke,” ucapnya ketika ditemui di kantor Kementerian BUMN, Jakarta.
Di tempat yang sama, Orias mengaku baru menerima surat keputusan (SK) penetapan dirinya sebagai direktur utama Inalum pada Senin (25/11). Surat keputusan tersebut diberikan oleh Wakil Menteri BUMN Kartika Wirjoatmodjo. Orias mengatakan, dirinya akan menjalankan amanah sebagai direktur utama Inalum, sesuai dengan program yang sudah dikerjakan sekarang. Dia juga akan melanjutkan dan merampungkan beberapa pekerjaan yang masih diproses oleh Inalum, salah satunya adalah merampungkan transaksi akuisisi 20% saham PT Vale Indonesia Tbk.
“Kan ada beberapa hal yang dilakukan oleh Inalum, ya kami amankan, seperti transaksi Vale akan diselesaikan. Kemudian hal lain, melanjutkan yang sudah ada sesuai dengan visi dan misi dari Inalum,” ujar Orias.
Inalum sebagai holding tambang yang beranggotakan Bukit Asam, PT Timah Tbk, Antam, dan Freeport Indonesia, hingga akhir Juni lalu, membukukan pendapatan sebesar Rp 38,01 triliun. Ini naik 27,34% dibandingkan pendapatan periode yang sama tahun sebelumnya Rp 29,85 triliun. Sedangkan laba yang dibukukan Rp 579,05 miliar, turun signifikan dari laba periode yang sama tahun lalu Rp 5,4 triliun.
Dana Bank USS 500 Juta
Inalum telah menandatangani Perjanjian Pendahuluan akuisisi saham Vale dengan Vale Canada Limited (VCL) dan Sumitomo Metal Mining (SMM) pada 11 Oktober lalu. Inalum juga telah memperoleh dari sindikasi perbankan senilai US$ 500 juta untuk mendanai akuisisi saham sebesar 20% itu.
Direktur Operasional Inalum Ogi Prastomiyono menjelaskan, sindikasi ini berasal dari tiga bank, yaitu MUFG, Bank Mandiri, dan ICBC. Pihaknya tinggal menarik dana ini untuk merampungkan akuisisi. Proses akuisisi ditargetkan rampung paling lambat pertengahan 2020 mendatang.
“Itu (USS 500 juta) anggaran kami, valuasinya di bawah itulah. Tetapi, kami anggarkan USS 500 juta,” ujar dia.
Pihaknya masih harus merampungkan dokumen sales purchase agreement, share holders agreement, dan off taker agreement. Dia menyebut,
pertengahan Desember nanti ada penandatanganan dokumen Conditional Sale and Purchase Agreement (CSPA).
“Jadi, ada CSPA dulu, itu diharapkan Desember pertengahan selesai. Realisasi semua paling lambat Juni tahun depan,” ujarnya.
Sementara itu, terkait target kinerja tahun depan, Ogi mengaku pembahasan Rencana Kerja dan Anggaran Perusahaan (RKAP) belum rampung.
Namun, dengan melemahnya harga komoditas tambang, ia mengakui, target produksi perusahaan tidak akan jauh berbeda dengan tahun ini.
“Saya belum bisa bilang angkanya, tapi more or less sama seperti tahun ini. Karena faktor harga, oleh karena itu masih stagnan,” ujar Ogi.
Ogi merinci, untuk produksi batu bara oleh Bukit Asam tetap akan sama seperti tahun ini. Sampai September lalu, Bukit Asam mencatatkan produksi batu bara sebesar 21,6 juta ton, naik 10% dibandingkan dengan realisasi periode yang sama tahun lalu 19,6 juta ton.
Hal yang sama terjadi untuk produksi tambang dari Antam. Karena adanya larangan ekspor bijih nikel membuat Antam belum bisa memaksimalkan produksinya. Apalagi, Antam juga baru mengoperasikan Smelter Pomala untuk menampung produksi.
“Smelter Antam Iainnya juga baru akan beroperasi di akhir 2020. Di sisi lain, kami akan mendorong penjualan emas agar bisa mendongkrak pertumbuhan penjualan,” paparnya.
Dalam keterangan resminya, Antam mencatatkan volume produksi feronikel sampai akhir kuartal ketiga lalu sebesar 19.052 ton nikel dalam feronikel (Tni). Sedangkan total volume produksi emas dari tambang Pongkor dan Cibaliung mencapai 1.485 kg atau 47.743 ounces.
Investor Daily, Page 1 and 11, Monday, November 25, 2019
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