TBS Energi Utama (TOBA) reported that its subsidiary, PT Batu Hitam Perkasa, had divested 5% shares of PT Paiton Energy and 5% shares of Minejesa Capital BV to Medco Daya Energi Sentosa, valued at US$68.87 million, equivalent to Rp998.6 billion. TOBA’s equity reached US$290.9 million, so the said transaction represents 23.67% of its equity (US$298.35 million). TOBA’s cash and cash equivalent reached US$36.68 million per March 2021, with total assets of US$796 million. Its liability was US$497.69 million. 

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