JAKARTA, DECEMBER 17, 2024 – PT Intan Baru Prana Tbk (formerly PT Intan Baruprana Finance Tbk), a company engaged in the commercial transportation equipment trade, hereinafter referred to as “IBFN”, is optimistic that its new line of business, namely the commercial transportation equipment trade, will improve its overall business performance and maintain the Company’s business continuity in the future.
Since last year, the Company has begun to diversify its business by operating in the heavy equipment rental and timber transportation sectors in Kalimantan. The Company markets products that are specifically designed for use in plantations, mining, and construction at competitive prices in their class and have been well received in Indonesia.
Director of PT Intan Baru Prana Tbk Petrus Halim said that the Company's consistent growth is also inseparable from the support of the PT Intraco Penta Tbk (“INTA”) network, which has more than 50 years of experience in the heavy equipment industry and is spread across almost all major regions in Indonesia.
“We rely on the existing advantages of the products distributed by the Company and the INTA Group compared to the advantages possessed by competitors in their class. We will also continue to monitor developments in the business climate and strive to find business opportunities that align with the business competencies of the Company and the INTA business group,” he said in a Public Presentation on Tuesday (12/17/2024).
Since the end of December 2023, the Company has begun diversifying its business to include timber transportation at the Sebulu Site in Samarinda, East Kalimantan. The Company has invested in 10 SINOTRUK units to transport timber, as stated in the Public Presentation materials. Furthermore, the Company will conduct a further analysis to determine whether this business can be developed at other sites outside the Kalimantan region.
Furthermore, in October 2024, the Company began to expand its business into the rental business. The Company had the opportunity to rent out its heavy equipment for mining work in the Sumatra region. At this site, the Company employs 12 people.
The Company's revenue as of September 2024 was IDR 15.85 billion, up from IDR 2.89 billion in the same period the previous year.
The Company believes that there is still vast potential for sales of commercial transportation equipment and business diversification, especially since the Company has access to the customer base and facilities of the INTA Group that can be utilized. However, the Company has also identified a number of challenges that will be faced in 2025, such as competition with several similar product providers and other competing companies, product quality and price, and the level of service provided. Not only that, the target market for existing products is limited, so the Company needs strong support from the Principal and Shareholders to diversify its business in order to maintain the Company's business continuity.
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About PT Intan Baru Prana Tbk [“the Company”]:
The Company was formerly known as PT Intan Baruprana Finance Tbk, which was established in 1991 based on Limited Liability Company Deed No. 19 dated September 4, 1991. It is one of Indonesia’s financing companies with heavy equipment financing as its main business activity. The Company has been a subsidiary of PT. Intraco Penta Tbk (INTA Group) since 2003 and is a subsidiary entity that supports the heavy equipment business run by INTA Group.
Changing its line of business from a financing company to a company engaged in the commercial transportation equipment trade in February 2023 with the approval of the Company's General Meeting of Shareholders.
The majority shareholders of the Company as of November 30, 2024, are PT Intraco Penta Tbk with 55.07%, followed by PT Inta Trading with 17.23%, and other parties (each holding less than 5%) with 27.70%.
For further information, please contact:
Yunita Rivianti Riyadi
Corporate Secretary
PT Intan Baru Prana Tbk
Tel: 021-4401408 ; 4408442
Email: corsec@ibf.co.id
Website: www.ibf.co.id
Address: Jalan Raya Cakung Cilincing km 3.5
Jakarta 14130