Our capital investment strategy is one of long-term diversification. We are actively transitioning away from fossil fuel-based energy sources, like coal and coal-fired power plants, and towards more clean and sustainable businesses such as renewable energy, two-wheeled electric vehicles, and waste management. Our renewable-energy pipeline includes generating power from clean energy sources such as solar photovoltaic, wind, and hydraulic systems. With our two-wheeled electric vehicle initiatives, we are trying to provide cleaner transportation by moving away from the traditional combustion engine motorcycles across the whole of Indonesia.

This transition, though, needs to be done with a measured and structured approach. To do so, TBS has developed a transition framework and shared it with potential investors or lenders. At the moment, we are closely working with financial institutions that have completed similar transition financing frameworks, like Bank Mandiri and DBS Bank Singapore, to advise and guide us. These institutions have also been instrumental in helping us navigate and ensure compliance. Internally, we are one of the few listed Indonesian companies with an ESG Committee.

But even with all of these safeguards in place, we are not ignorant to potential accusations of greenwashing and a breach of trust with stakeholders. Our culture of full transparency is one way we are working to combat this. In addition, TBS2030 demonstrates our commitment to realizing these ambitions. The highest level of decision makers within our business, the Board of Directors, have also made a strong commitment to TBS' future business aspirations. They are very much behind our focus on diversifying and becoming a green business leading Indonesia into the future.