Back to announcement
20260523_CGAS_Tanggapan atas Permintaan Penjelasan Bursa_32094255_lamp1.pdf
Other Text extracted CGASSource file signed link, expires in 15 minutes
Extracted text 16
Page 1
CONFIRMATION AND CLARIFICATION REGARDING
THE INDONESIA STOCK EXCHANGE REQUEST FOR EXPLANATION
1. The urgency for the Company to add a business activity under Indonesian Standard
Industrial Classification (KBLI) 35201.
Response:
The Company may potentially be unable to realize the addition of its LNG business activity located in
Karawang, West Java. Meanwhile, the relevant business activity has obtained a natural gas allocation
from the Ministry of Energy and Mineral Resources since July 2025 pursuant to the natural gas allocation
decree for the monetization of gas from old wells within the relevant working area. Furthermore, the
implementation of such business activity has also been discussed and documented in the Minutes of
Meeting dated 28 February 2025 involving the Directorate General of Oil and Gas, SKK Migas, Pertamina
EP, and PT Citra Nusantara Gemilang Tbk regarding the utilization and development plan of the relevant
natural gas. To date, the construction progress of the supporting facilities has reached approximately
70%; therefore, any delay in the implementation may potentially impact the Company’s operational
plans and business development.
2. Considerations and impacts should the Company not proceed with the addition of business
activity under KBLI 35201.
Response:
Prior to the addition of KBLI 35201, the Company’s business activities were focused on the distribution
of natural gas and manufactured gas. With the addition of such KBLI, the Company gains strategic
opportunities to expand its business activities into the procurement and processing of manufactured
natural gas, including the development of the Liquefied Natural Gas (“LNG”) business. The addition of
this business activity enables the Company to broaden its business value chain from merely distribution
activities into an integrated processing operation that generates value-added products, namely LNG.
Should the addition of the KBLI not be implemented, the Company may potentially lose opportunities
for business expansion, revenue diversification, as well as optimization of the growing LNG market
potential in both domestic and international markets.
3. Information regarding the product expected to contribute the largest portion of the
Company’s revenue following the addition of such business activity.
Response:
The product projected to contribute the largest portion of the Company’s revenue following the addition
of the new business activity is Liquefied Natural Gas (LNG). In the production process, natural gas from
production wells first undergoes purification stages to remove CO₂, H₂S, water, and mercury contents
in order to meet processing specifications. Subsequently, heavy hydrocarbon fractions such as propane
and butane are separated as by-products. The purified methane gas is then gradually cooled using
cryogenic refrigeration technology until it reaches a temperature of approximately -162°C, thereby
transforming into liquid form with a significantly more efficient volume, approximately 1/600 of its
original gaseous volume. The resulting LNG is then stored in cryogenic tanks and distributed to domestic
and international customers. The development of the LNG business is expected to strengthen the
Company’s revenue structure through increased product added value, market expansion, and enhanced
competitiveness within the energy sector.
1
Page 2
4. The Company’s current condition and readiness to carry out the new business activity.
Response:
The Company is currently in the final stage of preparation for the development of its new business
activity in the Liquefied Natural Gas (LNG) sector, with project implementation progress showing
positive achievements in line with the established targets. To date, the administrative preparation stage
has reached 100%. From the engineering aspect, progress has reached 79.50%, currently at the
technical document review and approval stage. Meanwhile, procurement progress has reached 66.96%,
including the completion of the Factory Acceptance Test (FAT) at Greenfir as the LNG technology
provider through PT GT Ladang Teknik as the turnkey contractor, as well as the Closed Circuit Television
(CCTV) routing process. On the construction side, work progress has reached 66.44%, primarily
focusing on civil works. The pilecap foundation work has reached 63.97%, including the completion of
the Cold Box and LNG Pump Skid foundations. In addition, the construction of the project area fence
has reached 87.97%, whereby the northern, eastern, and western sections of the fence have been
completed. With such achievements, the Company remains optimistic that the new business activity
can commence operations in accordance with the Company’s business development plan.
5. Information regarding whether there will be changes to the Company’s organizational
structure following the addition of the new business activity.
Response:
In connection with the addition of the LNG business activity, the Company has made adjustments to its
organizational structure in order to support more effective operations and optimal business
management. Such adjustments are deemed necessary considering that LNG business activities possess
operational, technical, risk management, and safety characteristics that differ from those of the
Compressed Natural Gas (CNG) business activities. Accordingly, the Company considers it necessary to
strengthen functions and adjust the organizational structure to ensure that the new business activity
can operate effectively, efficiently, and in compliance with applicable operational standards.
6. Information regarding the target customers for the products to be produced and sold by
the Company from such additional business activity.
Response:
The target customers for the LNG products to be produced and marketed by the Company include retail
and industrial segments requiring natural gas energy to support their operational activities. Several of
the Company’s potential prospective customers include PT Yamaha Motor Parts Manufacturing
Indonesia; PT Indo Kordsa Tbk; PT Magnolia Energi Lestari; CV Baju Kertas Kreasindo; PT Nippon
Indosari Corpindo Tbk; PT Ateja Tritunggal; PT Bumi Marga Konstruksi; and PT Genthala Arta Mandiri.
The Company believes that the development of the LNG business activity will expand market share,
increase customer diversification, and positively contribute to the sustainable growth of the Company’s
revenue.
7. Information regarding the estimated timeline for the new business activity to commence
commercial operations.
Response:
The Company plans for the new business activity in the Liquefied Natural Gas (LNG) sector to
commence commercial operations in the fourth quarter of 2026. Currently, the Company continues to
finalize the engineering, procurement, and construction stages to ensure that all operational facilities
comply with the applicable technical standards, safety requirements, and prevailing laws and
regulations.
2
Page 3
8. Based on the manpower planning for the LNG Station operations, the Company plans to
recruit an additional total of 42 employees covering various key functions, including
operational management, occupational health and safety, production planning and control,
field operations, maintenance, security, and supporting functions. In this regard, please
provide the following explanation:
a. Current developments regarding employee recruitment to fulfill the Company’s
additional business activity requirements.
Response:
To date, the Company has recruited 1 (one) additional employee to support the development of
the LNG Station project, particularly within the Health, Safety, and Environment (HSE) function.
In addition, management also plans to recruit the position of Head of LNG Station in the near
future. The fulfillment of other manpower requirements will be carried out gradually by considering
the development and progress of the project construction to ensure the effectiveness and
efficiency of the Company’s operations.
b. Information regarding the number of employees recruited by the Company for such
additional business activity.
Response:
As of this date, the Company has recruited 1 (one) new employee to support the LNG Station
business activity, specifically within the Health, Safety, and Environment (HSE) Management
function. The Company will continue to recruit additional manpower gradually in accordance with
operational requirements and the ongoing development of the project.
c. Training and stages that must be undertaken by the new employees until the new
business activity can be operated by the Company.
Response:
In order to ensure the readiness of competent human resources in line with LNG operational
requirements, the Company implements several stages of employee recruitment and development
as follows:
1. Administrative screening and interview conducted by the Human Resources Department
(HRD);
2. Interview with the relevant user department, which may be conducted simultaneously with
the HRD interview;
3. Psychometric testing conducted through a third party appointed by the Company;
4. Medical Check-Up (MCU) conducted through healthcare facilities or third parties appointed
by the Company;
5. Delivery of the offering letter;
6. Execution of the employment agreement;
7. Introduction to the working environment and operational facilities;
8. Induction training covering the understanding of the Company’s vision and mission,
corporate culture, organizational structure, employees’ rights and obligations, as well as
comprehensive understanding of the CNG and LNG business processes delivered by each
relevant department;
3
Page 4
9. On-the-Job Training (OJT) accompanied by periodic performance evaluations;
10. LNG Plant operation training for employees assigned to operate the LNG Plant during the
commissioning period; and
11. Appointment as permanent employees based on performance evaluation results in
accordance with the Company’s policies.
Through these stages, the Company expects all employees joining the Company to possess
adequate competencies, operational understanding, and awareness of occupational safety aspects
in supporting the Company’s LNG business activities.
d. Information regarding the estimated timeline for such employees to commence
employment with the Company.
Response:
The Company carries out its recruitment and employee addition process based on the manpower
planning that has been prepared while taking into consideration the progress and timeline of the
LNG project development. Through this approach, the recruitment process and onboarding
timeline of new employees will be implemented gradually in accordance with the Company’s
operational needs, thereby supporting the effectiveness and efficiency of human resource
management in the development of the new business activity.
e. External parties involved in the Company’s recruitment process.
Response:
In carrying out the recruitment process, the Company only engages external parties for the
implementation of psychometric testing and Medical Check-Up (MCU) services through third parties
appointed by the Company. Meanwhile, all other processes, including candidate sourcing, interview
processes, and candidate evaluations, are conducted independently by the Company together with
the relevant internal management in accordance with the requirements of each respective
function.
9. With respect to the quality of the Company’s LNG products, please provide the following
explanation:
a. Information regarding the specifications of the Company’s LNG products.
Response:
4
Page 5
b. Information regarding the advantages of the Company’s LNG products.
Response:
c. Information regarding the quality standardization of the Company’s LNG products.
Response:
In principle, there is currently no single universally accepted standard governing the quality
specifications of Liquefied Natural Gas (LNG). Nevertheless, in commercial practice, the quality and
specifications of LNG are determined based on the gas composition and certain technical
parameters adjusted to market requirements and the provisions agreed upon by the parties under
the relevant sale and purchase agreement. Accordingly, the Company will ensure that the LNG
products produced comply with the technical specifications and quality requirements requested by
customers, including gas composition, calorific value, sulfur content, and other operational
parameters in accordance with the applicable industry standards.
d. Strategy to ensure the quality of the Company’s LNG products.
Response:
In order to ensure that the quality of the Company’s LNG products remains in accordance with
market specifications and customer requirements, the Company will implement comprehensive
supervision and quality control measures throughout each stage of the production process. Such
control measures begin with monitoring the quality of natural gas sourced from production wells,
including the purification process to remove CO₂, H₂S, water, and mercury contents to ensure
compliance with LNG processing standards.
Thereafter, heavy hydrocarbon fractions such as propane and butane are separated as by-products
before the purified methane gas is gradually cooled using a cryogenic refrigeration system until
reaching a temperature of approximately -162°C, thereby transforming into LNG. In addition, the
Company will also conduct periodic monitoring of operational parameters, product quality testing,
and implementation of safety and operational standards to maintain the consistency and quality
of the LNG products produced.
5
Page 6
10. With respect to the Company’s plan to engage in the LNG business, please provide the
following explanation:
a. Advantages of LNG compared to CNG.
Response:
Liquefied Natural Gas (LNG) offers several advantages compared to Compressed Natural Gas
(CNG), particularly in terms of distribution efficiency and transportation capacity. LNG is natural
gas that has been liquefied at a cryogenic temperature of approximately -162°C, resulting in a
substantially smaller volume compared to its gaseous form. Under such conditions, LNG enables
the transportation of significantly larger quantities of energy in a single shipment compared to
CNG.
In addition, LNG distribution does not require large high-pressure cylinders as utilized in CNG
distribution, thereby making logistics and transportation processes more flexible and efficient. Such
advantages provide added value to the Company in expanding its energy distribution coverage,
including serving customers in areas that were previously difficult to reach through CNG
distribution. Accordingly, the development of the LNG business is expected to enhance operational
efficiency, expand market share, and support energy demand for industrial and retail sectors
across various regions.
b. Information regarding the Company’s main competitors in the LNG business.
Response:
In conducting business activities in the Liquefied Natural Gas (LNG) sector, the Company will face
competition from several companies that have previously operated within such industry. The
Company’s principal competitors include:
1. PT Likuid Nusantara Gas;
2. PT Perusahaan Gas Negara Tbk; and
3. PT Sumber Aneka Gas.
Among such companies, PT Sumber Aneka Gas is considered one of the Company’s primary
competitors as it already possesses integrated plant facilities for LNG, LPG, and condensate
processing within Java Island. Such conditions provide competitive advantages in terms of
operational capacity, distribution efficiency, and diversification of energy products. Nevertheless,
the Company remains optimistic about competing within the LNG industry through infrastructure
development, expansion of customer networks, enhancement of service quality, and optimization
of operational efficiency in order to meet the continuously growing energy market demand.
c. Adjustments to customer machinery infrastructure in the event customers switch
from using CNG to LNG.
Response:
In principle, there are no significant adjustments required to customers’ machinery infrastructure
in the event of transitioning energy usage from CNG to LNG. The required adjustments are
generally more related to business processes and energy distribution systems, particularly in terms
of LNG storage, handling, and regasification prior to utilization in customers’ operations.
Accordingly, the utilization of LNG can continue to support customers’ energy requirements without
necessitating fundamental modifications to the machinery or principal equipment previously
utilized.
6
Page 7
d. Key inhibiting factors and challenges faced by the Company in marketing its LNG
products, particularly to new customers.
Response:
In marketing its LNG products, the Company faces several primary challenges, including:
1. The Company’s current target market predominantly consists of industrial customers that still
utilize Liquefied Petroleum Gas (LPG) as their primary operational fuel; and
2. The market’s understanding and awareness regarding LNG technology as an efficient and
competitive alternative energy source to replace LPG remain relatively limited.
Accordingly, the Company considers it necessary to implement an educational approach toward
prospective customers regarding the advantages of LNG, including in terms of efficiency, supply
sustainability, and the potential for long-term energy cost optimization.
e. Experience and LNG business portfolio previously undertaken by the Company.
Response:
At present, the Company has not yet possessed direct operational experience or portfolio in LNG
business activities. Nevertheless, the Company’s LNG project development is supported and
supervised by Greenfir through PT GT Ladang Teknologi as the principal manufacturer for LNG
equipment and LNG process systems. The involvement of parties possessing competence and
experience in LNG technology is expected to support the successful development of the Company’s
LNG business activities in accordance with applicable industry standards.
f. Information regarding similar companies conducting LNG business activities in the
vicinity of the Company.
Response:
To date, the Company views that there are currently no similar companies conducting LNG
business activities within Karawang and its surrounding areas, particularly in the West Java region,
with a scale and business model comparable to the Company’s business development. Accordingly,
the Company remains optimistic that it can become one of the early movers in the development
of LNG distribution and utilization within the region.
11. With respect to the construction of the LNG station funded through the proceeds of the
public offering, please provide the following explanation:
a. Current developments regarding the construction process of the LNG station.
Response:
As of this date, the construction process of the Company’s Liquefied Natural Gas (LNG) station has
demonstrated significant progress and is currently at the advanced construction implementation
stage. The Company continues to carry out the completion of engineering, procurement, and
construction works in phases to ensure that the development of the LNG facility proceeds in
accordance with the established targets and operational standards.
b. Percentage of completion of the LNG station construction.
Response:
To date, the completion progress of the Company’s LNG station construction has reached
approximately 70% of the overall project development target.
7
Page 8
c. Estimated timeline for the completion of the LNG station construction.
Response:
The Company targets the construction process of the LNG station to be completed in the fourth
quarter of 2026, such that the facility is expected to promptly enter the commissioning and
commercial operational stages in accordance with the Company’s business development plan.
d. Latest photographic documentation of the LNG station construction process.
Response:
F.A.T
e. Challenges faced by the Company in realizing the utilization of proceeds for the
construction of the LNG station.
Response:
In realizing the utilization of proceeds for the construction of the LNG station, the Company aligns
the implementation of fund utilization with the applicable licensing processes as well as the
requirements imposed by regulators and relevant third parties in relation to the development of
the LNG facility. Accordingly, the realization of the utilization of proceeds is carried out gradually
in line with the project progress and the fulfillment of the applicable requirements and regulations.
8
Page 9
f. Information regarding the stages required for the LNG station to commence
commercial operations. The Company is requested to provide a timeline in table
format, including information on each stage and its respective period. The Company is
also requested to provide comparative information against the stages previously
submitted during the listing application process to the Exchange.
Response:
g. Licenses that have currently been obtained by the Company for the construction of the
LNG station. The Company is requested to provide information regarding the type of
license, the relevant authority, and the validity period of such license.
Response:
The Company has obtained approval for natural gas allocation from the Ministry of Energy and
Mineral Resources pursuant to Letter Number T-312/MG.04/MEM.M/2025 dated 4 July 2025
regarding the “Determination of Allocation, Utilization, and Natural Gas Pricing from the Galian
Field within Pertamina EP Zona 7 Working Area to PT Citra Nusantara Gemilang.”
The approval serves as the basis for the allocation and utilization of natural gas for the Company’s
LNG business development activities. The validity period of such approval shall follow the
provisions stipulated under the relevant allocation decree and the applicable regulatory framework
issued by the Ministry of Energy and Mineral Resources.
9
Page 10
h. Licenses still required by the Company for the construction of the LNG station. The
Company is requested to provide information regarding the type of license, the
relevant authority, and the estimated timeframe required to obtain such license.
Response:
In order to support the construction and operation of the Liquefied Natural Gas (LNG) station, the
Company still requires a natural gas processing business license to be issued by the Ministry of
Energy and Mineral Resources of the Republic of Indonesia. Such license is required as the legal
basis for the Company to conduct natural gas processing business activities in accordance with the
prevailing laws and regulations.
The process for obtaining the aforementioned license is planned to be carried out following the
issuance of the relevant KBLI for the Company’s LNG business activities. The Company estimates
that the timeframe required to obtain such license will range from approximately 2 (two) to 3
(three) months from the date all administrative and technical requirements are declared complete
by the relevant authority.
12. With respect to the realization of the utilization of proceeds amounting to Rp55.39 billion
for the construction of the LNG station, please provide the following explanation:
a. Information regarding the accounts in the audited financial statements reflecting the
utilization of proceeds for the construction of the LNG station, including the balances
as of 31 December 2025 and 31 March 2026.
Response:
The utilization of proceeds for the construction of the LNG station in the Company’s Audited
Financial Statements as of 31 December 2025 and the Company’s Internal Financial Statements
for the first quarter of 2026 is recorded under the “Advances” account.
The details of the account balances are as follows:
• Balance as of 31 December 2025 : Rp76,067,417,128
• Balance as of 31 March 2026 : Rp101,668,478,784
b. Information regarding the detailed names of parties receiving payments from such
funds by completing the following table:
Response:
Skema
No. Bentuk jasa Nilai Pihak/Pemasok
pembayaran
1. Engineering, Rp Tempo - Progres PT GT Ladang Teknik
Procurement, 143.801.307.000
Construction,
Commissioning
(EPCC) LNG Station
2. DED (Detail Rp 3.700.000.000 Tempo - Progres PT GT Ladang Teknik
Engineering Design).
Pekerjaan LNG
Liquefaction Plant
3. Konsultan Rp 2.500.000.000 Tempo - Progres PT Hima Wasesa
pendampingan Manunggal
perijinan
4. Pembelian Tanah Rp 2.327.500.000 Tempo Bapak Rahadi
5. Pembangunan Kantor Rp 70.000.000 Tempo PT GT Ladang Teknik
10
Page 11
a. In the event that the payments were made through an advance payment mechanism,
please provide information regarding the payment date, realization, and the agreement
underlying such payments by completing the following table:
Response:
Jumlah Tanggal Nilai Jangka
No. Nama Pihak
pembayaran pembayaran terealisasi waktu
target
realisasi
1. PT GT Ladang Rp 28 Maret 2024 Rp Selesai
Teknik 3.700.0000.000 3.700.0000.000
2. Bapak Rahadi Rp 22 Desember Rp Selesai
2.327.500.000 2025 2.327.500.000
3. PT Hima Wasesa Rp 17 Maret 2026 Rp Juni 2026
Manunggal 2.000.000.000 2.000.000.000
4. PT GT Ladang Rp 70.000.000 06 Mei 2026 Rp 70.000.000 Selesai
Teknik
5. PT GT Ladang Rp 17 April 2026 Rp September
Teknik 97.945.045.000 97.945.045.000 2026
b. Compliance of the utilization of proceeds from the public offering with the provisions
of Article 10 of OJK Regulation Number 40 of 2025.
Response:
The Company hereby confirms that the utilization of proceeds from the public offering has been
carried out in accordance with the provisions of Article 10 of Financial Services Authority Regulation
(Peraturan Otoritas Jasa Keuangan) Number 40 of 2025 and has been utilized in line with the
objectives and utilization plan as disclosed in the Report on the Utilization of Proceeds (Laporan
Penggunaan Dana/LPD).
13. With respect to the shift in the realization timeline of the LNG station construction
compared to the timeline previously submitted during the share listing application
process, please provide the following explanation:
a. Background and reasons why the LNG station construction timeline submitted by
the Company during the listing application process has not been achieved.
Response:
The delay in achieving the realization timeline for the construction of the Company’s Liquefied
Natural Gas (LNG) station has primarily been influenced by the process of issuance of the
natural gas allocation letter from the Ministry of Energy and Mineral Resources of the Republic
of Indonesia concerning the monetization of natural gas from old wells located in the Karawang
area awarded to the Company. The certainty regarding the issuance of such gas allocation has
a significant impact on the development stages of the Company’s LNG project, considering that
the availability and certainty of gas supply constitute key aspects in the construction and
operation of LNG facilities. Accordingly, adjustments in the timeline for the issuance of the gas
allocation have consequently affected the overall construction timeline of the Company’s LNG
station.
11
Page 12
b. Efforts undertaken by the Company in response to the failure to achieve the
planned LNG station construction timeline.
Response:
In order to minimize the impact arising from the delay in the realization of the LNG station
construction, the Company has undertaken various strategic measures, including:
1. Actively conducting coordination and intensive communication with Production Sharing
Contract Contractors (Kontraktor Kontrak Kerja Sama/KKKS) as well as relevant institutions
and authorities, including PT Pertamina EP, SKK Migas, and the Ministry of Energy and
Mineral Resources of the Republic of Indonesia, in order to accelerate the issuance of the
natural gas allocation;
2. Executing the Engineering, Procurement, Construction, and Installation (EPCI) contract for
the Karawang LNG project in parallel with the contractor appointed by the Company to
accelerate the project development readiness; and
3. Conducting the application process and fulfillment of requirements for the issuance of
commercial business licenses in parallel with the implementation of EPCI activities and the
process of issuance of natural gas allocation to ensure the operational readiness of the
Company’s LNG project.
Such measures are undertaken as part of the Company’s commitment to maintain project
continuity and accelerate the completion of the LNG facility construction in accordance with the
established targets.
c. Impacts and consequences arising from the failure to achieve the planned LNG
station construction timeline on the Company’s financial and operational
conditions.
Response:
The delay in the realization of the LNG station construction has resulted in several impacts on
the Company’s operational and financial conditions, including:
1. Potential reduction in the Company’s revenue due to the postponement of commercial
operations and LNG sales;
2. The emergence of obligations to pay fines or penalties arising from the failure to fulfill
natural gas offtake commitments as stipulated under the Gas Sale and Purchase
Agreement (Perjanjian Jual Beli Gas/PJBG) between the Company and PT Pertamina EP;
and
3. Potential risks of delayed payment obligations to the Engineering, Procurement,
Construction, and Installation (EPCI) contractor for the Karawang LNG project in relation
to project completion works.
Nevertheless, the Company continues to undertake risk mitigation measures and prudent
financial management in order to minimize impacts on the sustainability of the Company’s
business operations.
12
Page 13
d. Whether there has been any event of default or breach of contract arising from the
failure to meet the target timeline for the LNG station construction.
Response:
In relation to the failure to achieve the target timeline for the LNG station construction, there
are several potential conditions that may be categorized as default or non-fulfillment of
contractual obligations, including:
1. The non-fulfillment of the Company’s commitment regarding the offtake and monetization
of natural gas from wells owned by PT Pertamina EP as stipulated under the Gas Sale and
Purchase Agreement (PJBG) between the Company and PT Pertamina EP; and
2. The non-fulfillment of work implementation targets as stipulated under the LNG Karawang
development cooperation agreement between the Company and PT GT Ladang Teknologi.
Nevertheless, the Company continues to conduct coordination and communication with all
relevant parties in order to seek the best possible solutions and ensure the continuity of project
implementation in accordance with the applicable provisions.
e. Strategies and measures undertaken by the Company to ensure that the LNG
station construction can be completed in accordance with the Company’s target.
Response:
In order to ensure that the LNG station construction can be completed in accordance with the
targeted timeline, the Company has prepared several strategic measures and acceleration
initiatives, including:
1. Accelerating project development and mitigating various risks that may potentially hinder
the completion of the LNG Plant construction;
2. Conducting the commercial business license application process in parallel with the targeted
issuance timeline in August 2026; and
3. Finalizing the Gas Sale and Purchase Agreement (PJBG) process between the Company and
PT Pertamina EP with a targeted completion timeline in August 2026.
The Company remains optimistic that through such strategic measures, the LNG station
construction can be completed promptly and commence commercial operations in accordance
with the Company’s business development plan.
14. With respect to the remaining proceeds from the Company’s public offering as of 31
December 2025 amounting to Rp38.5 billion which have not yet been utilized, please
provide the following explanation:
a. Background and reasons why the Company has not yet utilized the remaining
proceeds from the public offering.
Response:
The realization of the utilization of proceeds from the public offering is carried out gradually
in line with the progress of the construction of the Company’s LNG station.
b. Current condition of the remaining proceeds from the public offering.
Response:
As of 31 March 2026, the Company still maintains remaining proceeds from the public offering
that have not yet been fully utilized and such funds will continue to be used in accordance
with the utilization plan determined by the Company.
13
Page 14
c. The Company’s strategy to ensure that the account designated for the utilization
of public offering proceeds is not commingled with operational accounts.
Response:
The Company places the proceeds from the public offering in accounts that are separate from
the Company’s operational accounts in order to ensure that the management and utilization
of such funds can be monitored separately and utilized in accordance with their designated
purposes.
d. Information regarding the accounts where the remaining proceeds from the
Company’s public offering are deposited.
Response:
The remaining proceeds from the Company’s public offering are deposited in several banks
operating under the supervision of the Financial Services Authority (Otoritas Jasa
Keuangan/OJK).
e. Compliance of the escrow accounts for the Company’s public offering proceeds
with the provisions of Articles 20 and 21 of OJK Regulation Number 40 of 2025.
Response:
The escrow accounts for the Company’s public offering proceeds are in compliance with the
provisions of Articles 20 and 21 of Financial Services Authority Regulation (Peraturan
Otoritas Jasa Keuangan) Number 40 of 2025.
f. Information regarding the transfer of placement of the remaining public offering
proceeds from 31 December 2025 until 31 March 2026.
Response:
From 31 December 2025 until 31 March 2026, the remaining proceeds from the public offering
continued to be deposited in several banks supervised by the Financial Services Authority
(Otoritas Jasa Keuangan/OJK) and remained under the same escrow accounts designated for
the public offering proceeds.
g. Information regarding the utilization of the remaining public offering proceeds
from 31 December 2025 until 31 March 2026.
Response:
As of 31 March 2026, the Company’s public offering proceeds have been utilized to support
the construction of the LNG station in accordance with the Company’s utilization plan for the
proceeds.
h. Information regarding the planned timeline for the realization of the utilization
of the public offering proceeds.
Response:
The Company targets that the realization and reporting of the utilization of the public
offering proceeds will be carried out gradually, with the next realization target scheduled up
to 30 June 2026.
i. Impacts and consequences to the Company arising from the unutilized remaining
public offering proceeds on the Company’s operational activities and financial
condition.
14
Page 15
Response:
The fact that a portion of the public offering proceeds has not yet been utilized does not have
any material impact or consequence on the Company’s operational activities or financial
condition.
j. The Company’s plan to amend the utilization of proceeds (if any).
Response:
As of this date, the Company has no plan to amend the utilization of the proceeds from the
public offering.
k. Compliance of the placement of the remaining public offering proceeds with the
provisions of Article 22 paragraph (1) of OJK Regulation Number 40 of 2025.
Response:
The placement of the remaining proceeds from the Company’s public offering has been carried
out in accordance with the provisions of Article 22 paragraph (1) of Financial Services
Authority Regulation (Peraturan Otoritas Jasa Keuangan) Number 40 of 2025.
15. With respect to the planned General Meeting of Shareholders (GMS) regarding the
approval of the addition and/or amendment of the Company’s business activities,
please provide the following explanation:
a. Information regarding the schedule for the implementation of the GMS by
completing the following table:
Response:
No. Kegiatan Tanggal
1. Pemberitahuan mata acara RUPS 4 Mei 2026
2. Pengumuman RUPS 9 Mei 2026
3. Pemanggilan RUPS 24 Mei 2026
4. Pelaksanaan RUPS 15 Juni 2026
5. Penyampaian hasil RUPS 13 Juli 2026
b. Compliance of the GMS implementation schedule, particularly with the provisions
of OJK Regulation Number 15/POJK.04/2020.
Response:
The Company has prepared and implemented the schedule for the General Meeting of
Shareholders (GMS) in accordance with the applicable regulations, including the provisions
under Financial Services Authority Regulation (Peraturan Otoritas Jasa Keuangan) Number
15/POJK.04/2020 concerning the Planning and Implementation of General Meetings of
Shareholders of Public Companies. The schedule submitted by the Company has been
coordinated and provided by the Company’s Securities Administration Bureau, namely PT
Bima Registra.
15
Page 16
c. The Company is requested to explain the impacts and consequences that may be
incurred by the Company in the event of non-compliance of the GMS
implementation schedule with the provisions of OJK Regulation Number
15/POJK.04/2020.
Response:
The impact arising from such non-compliance is that the Company may be unable to conduct
its Annual General Meeting of Shareholders (AGMS), which may consequently affect the
reports and agendas prepared by the Company for the purpose of obtaining approval from
the shareholders.
16. Pursuant to Article 22 of OJK Regulation Number 17/POJK.04/2020, a Public Company
is required to announce disclosure of information regarding the proposed amendment
of business activities to shareholders simultaneously with the announcement of the
GMS. In this regard, please provide the following explanation:
a. Background and reasons why the Company disclosed the information on 6 May
2026 while the announcement of the GMS was only made on 7 May 2026.
Response:
The Information Disclosure dated 6 May 2026 was made based on consultation results with
the OJK supervisory authority, which confirmed that the submission of the Information
Disclosure must be made no later than simultaneously with the announcement of the GMS.
The phrase “no later than” was interpreted by the Company as a provision allowing the
Company to submit the Information Disclosure prior to the announcement of the GMS.
b. The Company is requested to explain the impacts and consequences incurred
by the Company due to the non-fulfillment of such provision, considering that
the Company disclosed the information on 6 May 2026 while the announcement
of the GMS was only made on 7 May 2026.
Response:
The resulting impact is that the Company may be unable to obtain approval for the addition
of the relevant KBLI, which may potentially hinder the licensing application process as
directed by the Ministry of Energy and Mineral Resources. Furthermore, such condition may
also create subsequent impacts on the Company’s operational activities and business
development in the LNG sector.
17. Planned corporate actions within the next 12 months (if any).
Response:
The Company currently has no plan to undertake any corporate actions within the next 12
months.
18. Explanation regarding other material information/events to be undertaken by the
Company in the future which may affect the sustainability of the Company’s business
operations.
Response:
The Company currently does not have any other material information or events planned in the
future that may affect the sustainability of the Company’s business operations.
16
Names mentioned 31 people and organisations named in the text · linked when the evidence is strong
unresolved
org
INDONESIA STOCK EXCHANGE
p.1
unresolved
org
Ministry of Energy and Mineral Resources
p.1 ×4
unresolved
org
Directorate General of Oil and Gas
p.1
unresolved
org
PT GT Ladang Teknik
p.2 ×2
unresolved
org
PT Yamaha Motor Parts Manufacturing Indonesia
p.2
unresolved
org
PT Magnolia Energi Lestari
p.2
unresolved
org
PT Ateja Tritunggal
p.2
unresolved
org
PT Bumi Marga Konstruksi
p.2
unresolved
org
PT Genthala Arta Mandiri.
p.2
unresolved
org
PT Likuid Nusantara Gas
p.6
unresolved
org
PT Sumber Aneka Gas. Among
p.6
unresolved
org
PT Sumber Aneka Gas
p.6
unresolved
org
PT GT Ladang Teknologi
p.7
unresolved
org
Ministry of Energy
p.9 ×2
unresolved
org
PT GT Ladang Teknik Procurement
p.10
unresolved
org
PT GT Ladang Teknik Engineering Design
p.10
unresolved
org
PT Hima Wasesa
p.10
unresolved
person
Rahadi
p.10 ×2
unresolved
org
PT GT Ladang
p.11 ×3
unresolved
org
PT Hima Wasesa Rp
p.11
unresolved
org
Financial Services Authority
p.11 ×6
unresolved
org
PT Pertamina EP
p.12 ×5
unresolved
org
PT GT Ladang Teknologi. Nevertheless
p.13
unresolved
org
PT Bima Registra.
p.15
unresolved
org
Ministry of Energy and Mineral Resources. Furthermore
p.16
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.