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SUMMARY OF MINUTES ANNUAL PUBLIC EXPOSE
PT PELAYARAN NASIONAL BINA BUANA RAYA Tbk (“the Company”)
Held on:
Day / Date : Tuesday, June 23, 2026
Place : Zoom Online (Teams)
Time : 02.30 PM - finished.
Attended by:
President Director : Na’im Machzyumi
Director : Liely
Corporate Secretary : Susanti Novita
And the Journalists are totaling 11 (eleven) people (Attendance list of reporters attached).
Public expose are held at 02:30 PM until finish and opened by the President Director, Mr. Na’im
Machzyumi , with the following material:
a. Company profile, Management Composition and Business Segments.
b. Company Performance, Profit and Loss Report and Financial Statement in 2025.
c. The Company's Business Prospects in 2026.
d. Management’s Work Plan in 2026.
After all public expose material has been presented, the Company Management provides an opportunity
for journalists to ask questions.
The questions asked as well as responses from management responses are as follows:
Mr. Daniel (Analyst):
1. We noted a discrepancy as of USD 360,000 in the 2025 Net Profit figures between Slide 11 and
Slide 14. Additionally, in the 2024 Net Profit appears to exceed the Gross Profit, indicating
significant non-operating income. Could management clarify these points, including their
respective tax implications?
The discrepancy in the 2025 Net Profit figures between Slide 11 and Slide 14 arises because Slide 11
compares Net Profit between the 2025 and 2024, meanwhile in Slide 14 compares the 2025 Net
Profit against the 2026 projection.
Regarding the 2024 Net Profit exceeding Gross Profit, this is due to Company recording other
income in 2024 as of USD 2.4 million from the write-off of an affiliated debt.
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2. Referring to slides 9, 14, 15, and 16, management noted that the Prabowo administration is
pushing for increased national oil and gas production, which should serve as a positive catalyst for
BBRM. However, the projected revenue for 2026 shows an increase of only 0.2%, despite the
addition of new OSVs in July 2026. Does this projection account for the potential gain on disposal
from the vessel renewal program, and which vessels are planned for disposal?
The projected 2026 revenue increase of only 0.2% is due to that the Company is selling one unit Self-
Propelled Barge (SPB) in the end of October 2025; consequently, that unit is no longer in the vessel
for 2026, while the new OSVs are expected to commence operations start from July and August
2026. The gain on disposal from the sale of the vessel will be recorded under "other income."
3. Referring to slides 17, 15, and 16, management reported that the majority of BBRM’s customers
are international oil and gas companies sensitive to global oil prices. What is management’s
strategy for maintaining contract continuity should key customers reduce exploration activities,
and will the new OSV (scheduled for July 2026) be fully compliant with current cabotage
regulations?
The Company has consistently complied with cabotage rules; consequently, all vessels fly the
Indonesian flag. Nevertheless, the vessels remain capable of operating in foreign countries such as
Malaysia and Thailand. Looking ahead, exploration activities are expected to accelerate; and
drilling operations within Indonesia will increase.
Mr. Bari (Neraca):
4. Given the current global geopolitical landscape and ongoing supply chain disruptions, does BBR
perceive opportunities or risks for the national shipping industry? How do fuel price fluctuations
impact the company's margins, and what strategies are employed to manage this risk?
Regarding fuel, the Company’s vessels operate under time charter agreements, meaning fuel costs
are excluded. As for the impact of excessively high oil prices, exploration activities could potentially
be halted, though this has not happened to date. Looking ahead, exploration activity in Indonesia is
set to increase, given the historical lack of such activity in the country.
With additional wells scheduled to be opened in Indonesia through 2029, the demand for Offshore
Support Vessels (OSVs) will be higher than it is currently.
Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
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Susanti Novita
· Corporate Secretary
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Na’im Machzyumi
· President Director
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Daniel
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Bari
p.2
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