KONTAN.CO.ID – JAKARTA. The share price of PT Karya Pacific Energy Tbk (IATA) soared. On Wednesday (August 5, 2026), IATA’s stock price closed up 6.67% at Rp 96 per share. This increase brought IATA’s stock price up 65.52% in five days. This price trend is in line with the completion of the share ownership change process of the issuer, formerly known as MNC Energy Investments.
The company is now officially majority-owned by PT Karya Pacific Investama (KPI), having previously been owned by PT MNC Asia Holding Tbk.
This change occurred following the completion of the share acquisition transaction through a voluntary tender offer. KPI’s entry as a strategic partner is expected to strengthen the company’s capital structure, support expansion, and drive sustainable performance growth.
Based on information disclosure on the IDX on July 30, 2026, MNC Asia Holding completed the transfer of shares to Karya Pacific Investama. As a result, MNC Asia’s share ownership dropped from 0% to 8.81%. Consequently, Karya Pacific Investama’s share ownership increased to 59.31% from 50.5%.
This name and share ownership change was approved at a general shareholders’ meeting. Management stated at the time that the change was intended to strengthen the company’s identity and align its vision and business strategy.
Looking at the performance in the first half of 2026, this coal mining company’s revenue and net profit plummeted. Based on its financial report as of June 30, 2026, the company recorded a net profit for the current period of US$596,324, a decrease of 89.09% year-on-year compared to US$5.47 million in the same period the previous year.
Meanwhile, net profit attributable to owners of the parent entity was recorded at US$961,035, a decline of 82.43% from the position in the first half of 2025 of US$5.47 million.
The decline in net profit is inseparable from the weakening of business income and the increase in the company’s direct expenses.
IATA’s operating revenues fell 16.47% year-on-year, from US$39.97 million in June 2025 to US$33.38 million in June 2026.
On the other hand, direct expenses actually increased 4.41% year-on-year to US$21.26 million. The combination of declining revenue and rising expenses caused IATA’s gross profit to shrink 38.17% year-on-year to US$12.12 million. Operationally, the company actually managed to achieve efficiency in its selling expenses. This item decreased significantly by 68.67% to US$2.32 million.
However, these efficiencies were not enough to offset the increase in other expenses. Operating expenses increased 37.22% year-on-year to US$2.90 million. Furthermore, financial expenses also rose 12.13% year-on-year to US$2.69 million.
The greatest pressure came from net foreign exchange losses, which surged 402.83% year-on-year to US$1.93 million. In the same period last year, foreign exchange losses were recorded at only US$383,520.
From a balance sheet perspective, IATA’s financial position as of June 30, 2026, experienced a slight decline compared to the end of 2025. Total assets were recorded at US$233.19 million, down 2.16% from US$238.34 million as of December 31, 2025. Cash and bank balances experienced a significant decline of 43.84% to just US$ 1.21 million.
Reporter: Avanty Nurdiana | Editor: Avanty Nurdiana