By Romel S. Gurky
Energy firm PT TBS Energi Utama Tbk. (IDX: TOBA) announced on Tuesday that it has completed the 100% acquisition of Sembcorp Environment Pte. Ltd. (SembEnviro) through its subsidiary SBT Investment 2 Pte. Ltd.
The acquisition strengthens TBS’s integrated environmental solutions portfolio, enhancing its presence in Southeast Asia, particularly in Singapore and Indonesia, where TBS aims to expand its waste management and renewable energy operations. Singapore, a key market for TBS, will play an essential role in the company's efforts to align with the nation’s sustainability vision. TBS plans to further enhance its capabilities in the region, ensuring high service standards for its customers and partners.
Read also: Sembcorp sells waste management unit to TOBA
This strategic move builds upon TBS’s previous acquisitions, including the 2023 purchase of Asia Medical Enviro Services Pte. Ltd. in Singapore and ARA H Environmental Group in Indonesia. The acquisition of SembEnviro is another step in TBS’s ongoing efforts to position itself as a leader in environmental solutions, advancing its vision of carbon neutrality by 2030, the company said.
Lim Hwee Hua, Director of SBT Investment, expressed excitement about the acquisition, stating, "We are excited to welcome the SembEnviro team into the TBS family. Their expertise and experience will accelerate our transformation into a regional market leader dedicated to sustainable environmental solutions."
The acquisition reinforces TBS’s commitment to its sustainability strategy, which revolves around three key pillars: waste management, renewable energy, and two-wheeler electric vehicles. With over 2,000 employees across multiple sites in Indonesia and Singapore, TBS is committed to reducing its carbon footprint and contributing to a more sustainable future.
Editing by Alexander Ginting
