Investor Presentaiton
A Better Way to Invest in Indonesia
with Strong and Reliable Indonesian Shareholders
Existing Shareholding Structure
MERDEKA
COPPER GOLD
Provident Capital
Partners
gojek
Valuation: US$10.0b
22.92%
22.75%
Saratoga Investama Sedaya
TOWER
BERSAMA
GROUP
EV: US$2.6b1
MERDEKA
COPPER GOLD
Garibaldi Thohir
adaro
EV: US$2.5b1
8.95%
Track Record in
1
2
3
Growing and
Financing Indonesia
Corporates
Strong
Governmental,
Regulatory and Local
Ties
Excellent Corporate
Governance and
Investor Relations
No Risk of
Divestment under
Indonesia Mining
Law
The shareholders collectively have rich experience in leading and growing businesses in Indonesia, ranging from
dynamic tech platforms (Gojek) to well established corporates (i.e. Tower Bersama and Adaro). As a result, the
shareholders have established strong relationships with key external stakeholders and have gathered valuable
experience to lead companies to growth within the country
The shareholders have decades of experience in obtaining permits across Indonesia for their various operating
companies including Adaro (portfolio of coal mines), Tower Bersama (tower development in all 34 provinces) and
Provident Agro (with over 40,000 Ha of palm oil plantations), demonstrating their ability to resolve community issues and
work with national and local governments to develop projects across multiple industries
The team's reputation in maintaining excellent corporate governance and reporting standards (voluntary adoption of ASX
reporting requirements for Reserves and Resources, as well as quarterly reporting) have attracted quality investors
globally in both debt and equity capital markets, achieving overall lower cost of funds and strong support
The Indonesian Mining Law requires foreign shareholders to gradually divest portions of their shareholdings by making
initial offers to the Central Government of the Republic of Indonesia, Regional or Municipal Governments. With the major
shareholders being 100% Indonesian-incorporated or by citizenship, it minimizes the risk of divestment requirements and
volatility in share price
Note:
1. Market cap as at 8 April 2020; net debt as at 31 December 2019
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