Sinar Mas Group’s listed infrastructure and energy arm PT Dian Swastatika Sentosa Tbk (DSSA) has consolidated its digital infrastructure assets through a 4-trillion-rupiah ($222.8 million) affiliate transaction. And, Indonesia-listed PT TBS Energi Utama Tbk (TOBA) has expanded bank financing for its Singapore waste management business, Cora Environment.
Sinar Mas Group consolidates digital assets in $222m affiliate deal
Sinar Mas Group’s listed infrastructure and energy arm PT Dian Swastatika Sentosa Tbk (DSSA) has consolidated its digital infrastructure assets through a 4-trillion-rupiah ($222.8 million) affiliate transaction, strengthening its presence in Indonesia’s telecom sector.
The move comes shortly after DSSA agreed to acquire PT Karya Energi Terbarukan (KETR), as the group continues to expand beyond its traditional energy business.
Under the transaction completed on June 29, filed with the Indonesia Stock Exchange, DSSA subsidiaries PT DSST Mas Gemilang and PT Sinarmas Sukses Sejahtera acquired 100% of PT Bali Media Telekomunikasi (BMT) from affiliated entities PT Infinity Investama and PT Prima Mas Abadi for a combined 4 trillion rupiah.
BMT is an investment holding company with interests across Indonesia’s digital infrastructure sector, including a 24.57% stake in PT XLSMART Telecom Sejahtera Tbk, as well as investments in Link Net, Hipernet Indodata, Princeton Digital Group Data Centres, and cybersecurity firm Data Enkripsi Informasi Teknologi.
“The company recognises that the growth of the digital economy, rising internet penetration and accelerating digital transformation have increased demand for reliable, integrated and sustainable digital infrastructure,” DSSA said in its disclosure.
The company said the restructuring would strengthen synergies across its digital businesses, broaden its enterprise solutions offering, and accelerate the integration of its infrastructure and technology assets.
TOBA secures $298m financing for waste management business
Indonesia-listed PT TBS Energi Utama Tbk (TOBA) has expanded bank financing for its Singapore waste management business, Cora Environment, securing up to $298 million in loan facilities to refinance existing debt and support future growth.
According to its disclosure filed on June 26, the company increased its term loan facility to as much as S$345 million ($267.1 million) and maintained a revolving credit facility of up to S$40 million ($31 million) under an amended financing agreement covering several Singapore subsidiaries.
The agreement was signed by Cora Environment Group Pte. Ltd., SBT Invest Pte. Ltd. and Taonga Holdings Pte. Ltd., alongside DBS Bank, a syndicate of existing lenders and Natixis Singapore Branch as a new lender.
TOBA said the facilities will be used to refinance existing borrowings, as well as finance working capital and capital expenditure for SBT Invest and its subsidiaries. The company said the transaction is intended to optimise its financing structure through lower funding costs, longer loan tenors and greater financial flexibility.
The financing expansion follows TOBA’s acquisition of Singapore-based Sembcorp Environment Pte. Ltd. and Sembcorp Enviro Facility Pte. Ltd. in March 2025 through its subsidiary SBT Investment 2 Pte. Ltd. The business was subsequently rebranded as Cora Environment.
The acquisition has become a key contributor to the group’s earnings.
