History

For Indonesia

PT Bakrie & Brothers Tbk (“BNBR” or “Bakrie & Brothers” or “the Company”) was founded in 1942 by the late H. Achmad Bakrie (1916-1988).

The Company’s journey begins with the story of a simple commercial business which then develops, and after continuing to grow for more than 75 years, is now engaged in the business of investment and / or divestment; carved out various achievements and led the Company to become one of the leading corporations in Indonesia.

The Company listed on the Jakarta Stock Exchange (now the Indonesia Stock Exchange) in 1989. BNBR’s investment portfolio approach is in mastering potential businesses, developing long-term business synergies, and designing and implementing value creation strategies.

In this new era, BNBR’s business activities have expanded to include general trading, construction services, agribusiness, coal mining, oil & gas, and telecommunications; while continuing to develop manufacturing that had begun in the 1950s such as steel pipes, building materials, and automotive components. The Company also participates in strategic infrastructure development efforts in the energy and transportation sectors. This business diversification has opened up opportunities for the Company to contribute to national development.

In 2014, through its subsidiaries and affiliated companies, the Company has established a business strategy and focus on the manufacturing industry, infrastructure development, and investment portfolio as the main pillars of its business. This strategy is an appropriate step to strengthen businesses and obtain sustainable income, while responding to opportunities that are wide open and in line with national development plans that focus on infrastructure development.

BNBR stands on a solid and noble foundation, develops to form a strong investment base and creates sustainable value as one of the leading corporations in Indonesia. BNBR aspires to continue to be a business entity that can always support employees with the wider community, provide more value for shareholders and stakeholders, and actively participate in the development of the Indonesian economy.

Trading (1942-1960)

Bakrie & Brothers was established in 1942 by the late H. Achmad Bakrie as a general trading company.

Manufacturing (1960-1990)

In this period, Bakrie & Brothers ventured into the manufacturing business with the establishment of a steel manufacturing facility which included steel structures, metalworking, and various infrastructure development projects throughout Indonesia, acquiring the status of the pioneer of the steel pipe manufacturing industry in Indonesia.With numerous achievements and successes in the steel pipe manufacturing industry, Bakrie & Brothers officially became a public company in 1989 following a successful Initial Public Offering (IPO) process.

Expansion (1990-2005)

With the growth of manufacturing, we expanded into agriculture, energy and property sectors with the acquisitions of PT Bakrie Sumatera Plantation (agriculture), PT Arutmin Indonesia (energy), PT Kaltim Prima Coal (energy), and PT Bumi Resource (energy). In this period, we witnessed the establishment of PT Bakrieland Development (property) and PT Energi Mega Persada (energy).

Restructuring (2005-2015)

In this chapter, Bakrie & Brothers underwent a structural reorganization and financial restructuring to creditors through non-preemptive rights. The group signed an SPA agreement with Vallar, UK worth US$844 million and established a strategic partnership with PT Borneo Lumbung Energi & Metal to decrease debts by US$ 1 billion.Apart from the major restructuring process, the company’s innovation and contribution to Indonesia continued at pace into this period. Bakrie & Brothers continues to work on pivotal infrastructure projects including Kalimantan Jawa pipeline network development project, Tanjung Jati A power plant construction project, and the JORR Cimanggis Cibitung TollWays construction project.

Integrated Business (2015-Present)

In 2017, the company celebrated its 75th anniversary, as we grew along Indonesia’s development through the integration of steel manufacturing, mining, energy, plantation, infrastructure, property, and media & technology.In this new chapter, we recognise the importance of climate change as Bakrie & Brothers have now shifted its focus to become more involved in greater sustainable growth. We started this journey by partnering with BYD Auto China for the development of the Electric Vehicle industry in Indonesia. Just like we did 60 years ago with the manufacturing industry, we now aim to become the pioneers of the Electric Vehicle Industry in Indonesia.Looking back on our storied history, we managed to adapt through rapid change and periods of economic turbulence. In the present day, we are determined to continue to drive value to all our stakeholders and continue to build, Untuk Negeri.