TBS Company Presentation First Semester 2016

1

PT Toba Bara Sejahtra Tbk (

䇾

Toba

䇿

)

Company Presentation

Disclaimer

These materials have been prepared by PT Toba Bara Sejahtra (the “Company”).

These materials may contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,”“plan,”“will,”“estimates,”“projects,”“intends,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.

These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice.

Table of Contents

2

5

Company Profile

4

1H16 Operational Highlights

3

1H16 Marketing Highlights

Guidance for 2016

1

4

Company Profile

1

 JORC-compliant proved and probable reserves of 147 MM tons and measured, indicated and inferred resources of 236 MM tons

 Coal brands with mid to upper range calorific values (CV) of 4,700-5,800 kcal/kg GAR

 Strong production growth profile, registering ~34% CAGR between 2008 and 2015. Produced 6.5 MM tons in 2013 and grew ~25% to 8.1 MM tons in 2014

 Prime location near Capital of East Kalimantan

and proximity to waterways provides

operational cost edge to grow as logistical & operational center for the area

Strong Growth

Profile

Toba specializes in thermal coal production and comprises of three mining subsidiaries: Adimitra

Baratama Nusantara (ABN), Indomining (IM) and Trisensa Mineral Utama (TMU)

Toba Bara Sejahtra in Brief

Diversified Thermal Coal

Reserves and Resources

Strategic Mine Locations

Muara Berau

Muara Jawa Makassar Strait

~55 km (total ~120 km)

Balikpapan Samarinda

~65 km

Major

City Jetty Transhipment Point

TMU – IM Hauling Road

Kutai Energi

TMU

ABN IM

Major city to north is less than

50 km

Adjacent locations for all

3 mines

Close proximity to jetty and transhipment point of Muara

Jawa Distance from pit to

jetty, with closest one ~5 km and furthest ~25 km ~5 km

IM jetty ABN jetty

Toba owns all infrastructures (coal processing plant, overland conveyors, and jetties), giving significant operating leverage vs other concessions in surrounding areas

TMU

IM

ABN

TMU

Underpass Infrastructure

Loading Speed of 1,800 TPH High Built CPP Cap

up to 10 Mn TPA Short Coal Hauling

Distance < 5km

~16 km Hauling Road to Connect with ABN

Mine Ops Commenced at Block 4

CPP Capacity (cap) Ramped Up to 6 Mn Tons/Annum (TPA)

IM Conveyor for TMU usage &

Others

Short Coal Hauling Distance ~4km

Infrastructure & Operational Capabilities

Toba’s Concessions

Integrated CPP and Jetty Ops with IM

Note: PT Adimitra Baratama Nusantara (ABN) PT Indomining (IM)

Note:

1. Figures are rounded off 2. CFPP: Coal-Fired Power Plant

3. PLN: PT Perusahaan Listrik Negara (Persero) 4. IPP: Independent Power Producer 5. PPA: Power Purchase Agreement

Ownership Structure

License

Area

Davit Togar Pandjaitan _{PT Bara Makmur Abadi}

PT Toba Sejahtra PT Sinergi Sukses Utama Roby Budi Prakoso

71.8% 0.8% 6.2% 5.1%

PT Toba Bumi Energi (䇾TBE䇿)

99.99% (1)

99.99% (1)

3.6%

ABN Minorities

49.0%

51.00% 99.99% (1)

Public

12.5%

Reserve

90.00%

 20-year Production Operation Mining Permit (䇾IUP-OP䇿) expiring in December 2029

 IUP-OP was converted from Kuasa

Pertambangan (䇾KP䇿) in 2009

 IUP-OP expires in June 2013

 IUP-OP was converted from KP in 2010

 IUP-OP extension was completed in March 2013 (First out of 2 extensions: in 2023, with tenor of 10 years each)

 13-year IUP-OP expires in December 2023

 IUP-OP was converted from a KP in 2010

 Plantation permit of PT Perkebunan Kaltim Utama I (PKU) expires in 2036

 PT Gorontalo Listrik Perdana (GLP) was established in Feb 2016 to undertake coal-fired power plant project in Gorontalo, Sulawesi

 2,990 ha  683 ha  3,414 ha  8,633 ha (Right to Use

Land)  Gorontalo, Sulawesi

 Reserves: 117 MT- JORC

 Resources: 156 MT- JORC

 Reserve: 22 MT- JORC

 Resources: 37 MT- JORC

 Reserves : 8 MT - JORC

 Resources: 43 MT- JORC  Planted Area: 2,896 ha  N/A

1H16 Milestones

 1st _{April 2016: IM and PT Cipta Kridatama (subsidiary of PT ABM Investama Tbk) entered into a}

five-year mining contract valued at US$ 82 million over the contract period

 29th _{May 2016: ABN was awarded the PROPER Gold Mining Award for Environmental Management}

(2015 – 2016) from the Governor of East Kalimantan

 29th _{May 2016: IM was awarded the PROPER Green Mining Award for Environmental Management}

(2015 – 2016) from the Governor of East Kalimantan

 29th _{May 2016: TMU was awarded the PROPER Green Mining Award for Environmental Management}

10

1H16 Operational Highlights

2

Realization

1H 2016

Operational 1H15 1H16 Δ_%

Production Vol 3.0 2.8 (6.7)%

Sales Vol 3.3 2.8 (6.1)%

Stripping Ratio x 12.5 13.1 4.8%

Sales 190.8 139.0 (27.1)%

EBITDA 29.8 22.0 (26.2)%

Net Profit 15.3 9.3 (39.2)%

Financial 1H15 1H16

57.3

NEWC Index 62.7 50.9 (18.8)%

ASP 45.4 (20.8)%

mn ton mn ton US$/ton US$/ton

US$ mn US$ mn US$ mn

Δ%

EBITDA/ton US$/ton 9.0 7.2 (20.0)%

Focused on profitable production output

through optimization of :

 Infrastructure and connectivity sharing

(hauling road, coal processing plants (CPP), & jetties)

 Joint mine plan between three adjacent

operating mines

 Competitive & premium coal pricing driven by strong coal branding from

consistency in scheduled delivery/product quality and established customer

relationship with diversified customer base

 Average Selling Price (ASP)

outperformance relative to benchmark Newcastle due to sale executions based on well-timed predictions in market trends

Note:

2008 2009 2010 2011 2012 2013 2014 2015 2016

ABN IM TMU

G u id a n c e

Annual Coal Production Mt : In Million Tons

5.6

6.5

5.0 - 7.0

8.1

 Production volume rose from only 800K tons in 2008 to 6.1 mn tons in 2015, booking CAGR growth of 33.6% over 8 years

 2015 overall results from subsidiaries came in line with 2015 annual guidance

 With strategy to sustain certain margin, while preserving life-of-mine (LoM) reserves, 2016 production guidance is estimated at 5.0-7.0 mn tons

 2016 Stripping Ratio (SR) is expected to stabilize at 11x-12x, as per the mine plan

Cumulative production achievement >10 Mt

Cumulative production achievement >20 Mt

5.2 4.1

0.8

2.0

2016 Production Guidance

2008 2009

ABN (Mt) IM (Mt)

0.1 1.1

0.7 0.9

0.8 2.0

Production Vol. (Mt)

2010 2011

3.1 3.8

1.0 1.4

4.1 5.2

2012

4.4 1.0 5.6

2013 2014

4.2 4.4

1.4 2.3

6.5 8.1

TMU (Mt) SR (x)

- -

11.9x 10.5x

- -

9.9x 12.7x

0.2 14.9x

0.9 1.4

13.4x 13.3x

2016E 3.6-5.0 0.5-0.7 5.0-7.0 0.9-1.3 11x-12x 2015 6.1 3.9 1.2 1.0 12.3x 6.1

1H16 Operational Performance

Quarterly Production & SR

Production in Thousand Tons

Production Summary MT: Million Ton

1H15 1H16 Change Comment

Sales Volume

SR (x)

3.3 3.1

12.5 13.1

(6.1)%

4.8%

1H16 sales volume tracked its 1H16 production volume

SR edged up due to pre-stripping at ABN, and in line with mine plan

3.0 2.8

Production volume in 1H16 stabilized at 2.8 mn tons in line with mine plan, while ensuring certain margin and optimizing reserve preservation

(6.7)%

Production Volume

Production Summary MT: Million Tons

 Q-o-q production volume of 1.3 mn tons in 2Q16 came in line with 2016 quarterly guidance of 1.25 -1.75 mn tons

 2Q16 SR rose to 13.9x from 12.4x in 1Q16 due primarily to pre-stripping activity at ABN new pit

 SR in subsequent quarter is expected to remain at similar level before normalizing in 4Q16

2,160 2,330 1,653 1,505 1,469 1,565 1,529 1,503 1,269 13.8x

12.5x 13.8x 12.4x _12.5x

12.0x 12.1x 12.4x

13.9x 0.0x 5.0x 10.0x 15.0x 20.0x 0 500 1,000 1,500 2,000 2,500

2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

TOBA

ABN Operational Performance

ABN

TMU

IM

PT Kutai Energi

Quarterly Production & SR

Production in Thousand Tons

Key Highlights

 2Q16 quarterly production decreased y-o-y and q-o-q from 1Q16 and 2Q15 respectively due to

pre-stripping activity

 SR in 2Q16 rose to 15.0x due to pre-stripping activity at ABN’s opening of new pit

969 987 994 1,071 876 13.3x _13.0x

12.6x 12.9x

15.0x

0x 5x 10x 15x 20x

0 200 400 600 800 1,000 1,200

2Q15 3Q15 4Q15 1Q16 2Q16

ABN

IM Operational Performance

TMU

ABN

PT Kutai Energi

Quarterly Production & SR

Production in Thousand Tons

Key Highlights

 Production increase to 173K tons in 1H16 came in line with 2016 internal quarterly guidance of 125K -

175K tons

 SR in 1Q16 stabilized y-o-y and q-o-q at 12.0x

231 319 288 140 173

12.7x _12.2x 13.6x

12.0x

12.0x

0x 5x 10x 15x

0 50 100 150 200 250 300 350

2Q15 3Q15 4Q15 1Q16 2Q16

IM

TMU Operational Performance

ABN IM

PT Kutai Energi

Note:

- - -

Hauling road

Key Highlights

Quarterly Production & SR

Production in Thousand Tons

 2Q16 production volume came in at 220K tons, slightly below 2016 internal quarterly production guidance

of 225K-325K tons

 2Q16 SR on q-o-q stabilized but edged slightly on y-o-y basis

269 259 247 292 220 9.4x

8.3x 8.3x

10.8x _10.6x

0x 5x 10x 15x

0 50 100 150 200 250 300 350

2Q15 3Q15 4Q15 1Q16 2Q16

TMU

17

Evolution of Quarterly FOB Cash Cost from 3Q12-2Q16

Quarterly FOB Cash Cost

In US$/ton

Notes:

(1) FOB Cash Cost = COGS including royalty and selling & marketing expense – depreciation and amortization

(2) Adj. FOB cash costs = COGS, including selling & marketing expense and royalty – depreciation & amortization of deferred exploration & development costs and excluding deferred stripping cost

Divergence between SR averaging at 12x-13x and falling FOB cash cost reflect Toba operating within mine plan and more efficiently over time

60 57 55 55 53 49 49 53 51 50 47 43 41 38 35 35

63

52

59

56

51 52 51 54 ₅₀ 51

46

42 41

38

34 35 14.2x

12.1x

15.1x

13.6x

12.7x 12.7x 13.5x

13.8x

12.5x

13.8x

12.4x 12.5x _{12.0x 12.1x} 12.4x

13.9x 0x 3x 6x 9x 12x 15x 18x 21x 0 20 40 60 80 100

3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

Notes:

(1) FOB Cash Cost = COGS inc. royalty and selling & marketing expense – depreciation & amortization

(2) EBITDA = Gross Profit – selling expenses – G&A + depreciation & amortization + other non-cash items

23.9 _20.2

5.5 (0.6) 1.6 2.8 1H15 1H16 TMU IM ABN

1.9 1.9

0.6 _0.3

0.5 0.5 1H15 1H16 TMU IM ABN

47.7 _35.7

40.1 42.0 38.1 29.4 1H15 1H16 TMU IM ABN

Operational & Financial Highlights

Production (mn tons)

3.0

6.7%

FOB Cash Cost (US$/ton)

44.8 34.9

22.1%

EBITDA (US$ mn)

29.8 22.0

26.2%

1

2

3

Production volume slipped y-o-y in 1H16 due to pre-stripping in 2Q16

at ABN’s new mine pit

FOB cash cost fell by 22.1% y-o-y

on continuous cost management

initiatives, better mine plan

execution

EBITDA declined by 26.2% y-o-y to US$ 22.0 mn in 1H16, yet EBITDA margin rose slightly 15.6% to 15.8% over the same period due to same reasons above

Financial and Operational Highlights

All figures are in million US$

unless otherwise stated 1Q16 2Q16 Changes 1H15 1H16 Changes

Operation

Sales Volume mn ton 1.4 1.7 21.4 % 3.3 3.1 (6.1)%

Production Volume mn ton 1.5 1.3 (13.3)% 3.0 2.8 (6.7)%

Stripping Ratio (SR) x 12.4 13.9 12.1 % 12.5 13.1 4.8 %

FOB Cash Cost* US$/ton 34.8 35.0 0.6 % 44.8 34.9 (22.1)%

NEWC Index Price US$/ton 50.3 51.5 2.4 % 62.7 50.9 (18.8)%

Average Selling Price (ASP) US$/ton 46.8 44.3 (5.3)% 57.3 45.4 (20.8)%

Financial Perform ance

Profit (Loss) 1Q16 2Q16 Changes 1H15 1H16 Changes Sales US$ mn 63.6 75.4 18.6 % 190.8 139.0 (27.1)%

Cost of Goods Sold US$ mn 49.3 61.6 24.9 % 154.7 110.9 (28.3)%

Gross Profit US$ mn 14.3 13.9 (2.8)% 36.1 28.1 (22.2)%

Operating Profit US$ mn 8.3 7.6 (8.4)% 23.8 16.0 (32.8)%

EBITDA** US$ mn 11.3 10.7 (5.3)% 29.8 22.0 (26.2)%

Profit for the Period US$ mn 5.2 4.1 (21.2)% 15.3 9.3 (39.2)%

EBITDA/ton US$/ton 8.3 6.3 (24.1)% 9.0 7.2 (20.0)%

Operating Cash Flow US$/ton 10.7 6.2 (42.1)% 10.7 16.9 57.9 %

CAPEX US$ mn 3.4 3.9 14.7 % 4.9 7.3 49.0 %

Balance Sheet 1Q16 2Q16 Changes Dec'15 Jun'16 Changes Interest Bearing Debt US$ mn 61.3 58.0 (5.4)% 64.0 58.0 (9.4)%

Cash and Cash Equivalents US$ mn 49.1 40.7 (17.1)% 45.5 40.7 (10.5)%

Net Debt*** US$ mn 12.2 17.3 41.8 % 18.5 17.3 (6.5)%

Total Assets US$ mn 282.3 268.6 (4.9)% 282.4 268.6 (4.9)%

Total Liabilities US$ mn 122.2 111.8 (8.5)% 127.3 111.8 (12.2)%

Total Equity US$ mn 160.2 156.8 (2.1)% 155.1 156.8 1.1 %

Financial Ratios

Gross Profit Margin % 22.5% 18.4% 18.9% 20.2%

EBITDA Margin % 17.8% 14.2% 15.6% 15.8%

Operating Profit Margin % 13.1% 10.1% 12.5% 11.5%

Financial Performance

Notes: (1) FOB Cash Cost = COGS including royalty and selling expense – depreciation and amortization (2) EBITDA = Gross Profit – selling expenses – G&A + depreciation and amortization

NEWC index price decreased 18.8% y-o-y in 1H16, while it gained ground q-o-q in 2Q16 due to global catalyst from China’s supply cut

Balance sheet position remains

positive despite lower cash holdings in 1H16, while debt exposure fell due to partial loan repayment

SR edged up in 1H16 due to

pre-stripping activity in 2Q16 as ABN opened new pit

Gross profit margin, and EBITDA

margin each rose y-o-y to 1H16

resulting from better operational

performance, disciplined cost

management initiatives, and well-timed marketing strategy

8.9

13.3

18.5

12.2

17.3

12.1 12.2 _11.7

11.3

10.3

0 2 4 6 8 10 12 14 16 18 20

2Q15 3Q15 4Q15 1Q16 2Q16

Net Debt (Cash) (US$ Mn) EBITDA (US$ Mn)

Balance Sheet

Consolidated Balance Sheet

In Million US$

Net Debt to EBITDA2)

In Million US$

 Total assets fell 4.9% to US$ 268.6 mn at end-June 2016 from US$ 282.4 mn as per end 2015, while

total liabilities dropped much more by 12.2% to US$ 111.8 mn over the same period due mainly to

loan repayment

 Total equity value rose slightly 1.1% to US$ 160.2 mn from US$ 155.1 mn, due to additional profit for the period

 Net Debt to EBITDA ratio has constantly recorded stability from quarter to quarter at below 2x

Note:

(1) Restated due to compliance on PSAK 24R implementation

(2) EBITDA = Gross Profit – selling expenses – G&A + depreciation and amortization

282.3

Total Assets 282.4 0.0%

Interest Bearing Debt 64.0 61.3 (4.2)%

Total Liabilities 127.3 122.2 (4.0)%

Shareholders Equity 155.1 160.2 3.3%

Balance Sheet Dec ’151) _Mar ‘_{16 Changes}

Cash and Cash Equivalent 45.5 49.1 7.9%

22

98.5 121.1 96.9 85.3 70.8 59.2

50.3 51.5 65.5

91.3 72.2

66.6 _63.7 54.8

46.8 44.3

0 20 40 60 80 100 120 140

2010 2011 2012 2013 2014 2015 1Q16 2Q16

NEWC ASP 12.1% 35.5% 30.0% 10.1% 8.2% 4.0%

0.0 0.1 0.2 0.3 0.4 0.5

4800 5600 HS 5600 RS 5800 5900 LS Others Million Tons

Optimizing Selling Price & Product Quality

Covergence of NEWC Index & ASP (in US$/ton) Sales by Product Mainly Contributed by 5600 (GAR)

 Average NEWC Index declined by 18.8% from US$ 62.7/ton in 1H15 to US$ 50.9/ton in 1H16, while

ASP contracted by 20.8% from US$ 57.3/ton to US$ 45.4/ton over the same period

 at ~65.5%, the 5600 GAR products account for the largest portion of 1H16 total sales volume

 As of 1H16, 83.0% of 2016 sales volume target has been secured mostly at fixed price

Notes:

- HS is High Sulphur, max 2.0%

- RS is Regular Sulphur, max 1.0%

- LS is Low Sulphur, max 0.6%

US$/

Diversified Market Base & Customer Base

Initiatives Undertaken:

Total Sales by Customer Type Sales Destinations by Country

 Building well-diversified export destination base and customer base backed by positive demand

prospects and quality customers respectively: In 2015, South Korea replaced China as main export destination, while the customer base consisted of mainly reputable international traders with growing composition of notable regional end-users, increasing from 3.6% in 2014 to 36.8% in 2015

 In 1H16, end-users composition stabilized at 28.6% level as compared to 33.6% in 1H15

 Maintaining product brand with customers by making good on delivery with specifications ensured

 Achieving tighter discount to even premium to Newcastle adjusted reference price

26.4% 6.0% 8.7% 23.6% 7.1% 6.2% 2.1%

10.0% 2.3% 2.3% 5.5%

0.0 0.2 0.4 0.6 0.8

South Korea Taiwan Malaysia India China Japan Vietnam Thailand Bangladesh Hong Kong Others

Million Tons

71.4% 28.6%

25

Guidance for 2016

5

Snapshot of 2016F

Operation

Prod Vol (mn ton)

SR (x) 12.3x

6.1

2014

13.3x 8.1

NEWC Coal Price (US$/ton) 70.8 59.2

 Objective is to execute disciplined mine plan that generates certain margin without compromising long

term reserves

 Post 17.6% and 22.1% y-o-y FOB cash cost reductions in 2015 and 1H16 respectively, joint mine plan

and infrastructure sharing are to be better streamlined among 3 operating subsidiaries, with initiatives to lower costs throughout value chain from mining to logistics costs

 Marketing is to focus on better diversification of export destination base and customer base (ideal mix between traders and end-users) and maintaining product branding

 2016 CAPEX is estimated at US$ 5 - 8 mn to support mainly mining facilities and equipment, and

plantation operation of PKU. Currently, PKU is in final stage of constructing palm oil mill with capacity of 30 fresh fruit bunch (FFB) / hour to be completed by first semester 2016

 Toba aspires to become an integrated energy company in the long run through sustainable growth. To

maximize existing assets and ensure future sustainable growth backed by more stable revenue stream, it is engaging in downstream integration in the power sector

11x - 12x 5 - 7

2016 F

50 - 55

22

98.5 121.1 96.9 85.3 70.8 59.2

50.3 51.5 65.5

91.3 72.2

66.6 _63.7 54.8

46.8 44.3

0 20 40 60 80 100 120 140

2010 2011 2012 2013 2014 2015 1Q16 2Q16

NEWC ASP 12.1% 35.5% 30.0% 10.1% 8.2% 4.0%

0.0 0.1 0.2 0.3 0.4 0.5

4800 5600 HS 5600 RS 5800 5900 LS Others Million Tons

Optimizing Selling Price & Product Quality

Covergence of NEWC Index & ASP (in US$/ton) Sales by Product Mainly Contributed by 5600 (GAR)

 Average NEWC Index declined by 18.8% from US$ 62.7/ton in 1H15 to US$ 50.9/ton in 1H16, while ASP contracted by 20.8% from US$ 57.3/ton to US$ 45.4/ton over the same period

 at ~65.5%, the 5600 GAR products account for the largest portion of 1H16 total sales volume

 As of 1H16, 83.0% of 2016 sales volume target has been secured mostly at fixed price

Notes:

- HS is High Sulphur, max 2.0%

- RS is Regular Sulphur, max 1.0%

- LS is Low Sulphur, max 0.6%

US$/

Diversified Market Base & Customer Base

Initiatives Undertaken:

Total Sales by Customer Type Sales Destinations by Country

 Building well-diversified export destination base and customer base backed by positive demand prospects and quality customers respectively: In 2015, South Korea replaced China as main export destination, while the customer base consisted of mainly reputable international traders with growing composition of notable regional end-users, increasing from 3.6% in 2014 to 36.8% in 2015

 In 1H16, end-users composition stabilized at 28.6% level as compared to 33.6% in 1H15

 Maintaining product brand with customers by making good on delivery with specifications ensured

 Achieving tighter discount to even premium to Newcastle adjusted reference price

26.4% 6.0% 8.7% 23.6% 7.1% 6.2% 2.1% 10.0% 2.3% 2.3% 5.5%

0.0 0.2 0.4 0.6 0.8

South Korea Taiwan Malaysia India China Japan Vietnam Thailand Bangladesh Hong Kong Others Million Tons 71.4% 28.6% Traders End-Users

25

Guidance for 2016

Snapshot of 2016F

Operation

Prod Vol (mn ton)

SR (x) 12.3x

6.1

2014

13.3x 8.1

NEWC Coal Price (US$/ton) 70.8 59.2

 Objective is to execute disciplined mine plan that generates certain margin without compromising long term reserves

 Post 17.6% and 22.1% y-o-y FOB cash cost reductions in 2015 and 1H16 respectively, joint mine plan and infrastructure sharing are to be better streamlined among 3 operating subsidiaries, with initiatives to lower costs throughout value chain from mining to logistics costs

 Marketing is to focus on better diversification of export destination base and customer base (ideal mix between traders and end-users) and maintaining product branding

 2016 CAPEX is estimated at US$ 5 - 8 mn to support mainly mining facilities and equipment, and plantation operation of PKU. Currently, PKU is in final stage of constructing palm oil mill with capacity of 30 fresh fruit bunch (FFB) / hour to be completed by first semester 2016

 Toba aspires to become an integrated energy company in the long run through sustainable growth. To maximize existing assets and ensure future sustainable growth backed by more stable revenue

stream, it is engaging in downstream integration in the power sector

11x - 12x 5 - 7

2016 F

50 - 55