JAKARTA — PT TIMAH Tbk (“the Company”; IDX: TINS) has completed the repayment of bonds and sukuk worth Rp806 billion on time. This repayment covers the Timah Shelf-Registered Bonds I Phase II Year 2019 Series B amounting to Rp493 billion and the Timah Shelf-Registered Sukuk Ijarah I Phase II Year 2019 amounting to Rp313 billion.
The bonds and Sukuk Ijarah are the result of a Shelf-Registered Public Offering conducted by the Company in 2019 with a tenor of 5 years and a coupon or profit share of 8.75% per year.
This repayment is part of TINS’ commitment to meet its maturing obligations on time as a form of implementing good corporate governance, thereby maintaining investor confidence in the Company.
“On August 14, 2024, the Company transferred funds of Rp806 billion to the account of the Indonesia Central Securities Depository (KSEI) to repay the bond and sukuk ijarah debt maturing on August 15, 2024. The Company repaid the debt using an installment loan facility from PT Bank Central Asia Tbk (BCA) with a 3-year tenor and a more competitive interest rate,” said the Corporate Secretary of PT TIMAH Tbk, Abdullah Umar.
Abdullah added that the timely repayment of the bonds and sukuk demonstrates the company’s sound financial stability as well as TINS’ commitment to preserving the trust that investors have placed in it.
“We would like to thank the investors who have placed their trust in the Company. This success reflects not only solid financial performance, but also our commitment to maintaining integrity and accountability in every business decision we make,” he said.
This repayment is part of a sustainable financial management strategy that is expected to have a positive impact on TINS’ financial performance going forward, particularly with respect to interest savings and the health of the Company’s financial ratios.
With the completion of the repayment of these bonds and sukuk, the Company is now focused on continuing the long-term strategic plan that has been formulated. The Company will continue to optimize its investment portfolio and pursue other business development opportunities.
About PT TIMAH Tbk
PT TIMAH Tbk, a subsidiary of the Indonesian mining holding company MIND ID, is a leading tin producer and the world’s largest tin exporter, with tin mining and smelting operations in the provinces of Bangka Belitung, the Riau Islands, and Riau.
A Limited Liability Company since 1976 and listed on the Indonesia Stock Exchange since 1995, PT TIMAH Tbk runs a vertically integrated tin business, from exploration, mining, smelting and refining of tin metal, to marketing that serves both international and domestic customers. Its tin metal products under the brands “Banka Tin”, “Kundur Tin”, and “Mentok Tin” have an international reputation and are registered on the London Metal Exchange (LME).
Today PT TIMAH Tbk, a member of the International Tin Association (ITA), has four main business lines: tin mining, tin downstreaming (tin chemical and tin solder), non-tin mining (coal and nickel), and competency-based businesses including property, shipyards, and agribusiness.
