18 Nov 2022

BHIT Owns 44.09% of IATA Shares, Aims a Revenue Contribution of Rp 4.20 Trillion

Jakarta, November 18, 2022 – PT MNC Asia Holding Tbk (the Company or MNC Group or BHIT) officially owned 11,127,666,666 shares or equivalent to 44.09% in PT MNC Energy Investments Tbk (IATA). This is related to the expiration of IATA's Rights Issue period today. The corporate action was carried out to settle IATA's promissory notes issued to BHIT, in the context of PT Bhakti Coal Resources (BCR) acquisition, the holding company of eight Mining Business Licenses (IUP) in Musi Banyuasin, South Sumatra, previously owned by the Company.

Post Rights Issue, IATA's performance will be consolidated into the Company, while strengthening the fourth business pillar of MNC Group, including Media & Entertainment, Financial Services, Entertainment Hospitality, and Energy. Going forward, MNC Group believes IATA's contribution will be one of the main drivers to the Company's revenue, EBITDA, and net profit.

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