Banpu Group/Indo Tambangraya Megah (ITM)

Calling itself “The Asian Face of Energy”, Banpu Group has been in the coal industry for over 30 years and entered the Indonesian market in 1991.

Banpu Group has coal mining and power generation ventures in Thailand, Indonesia, China, Australia, Lao PDR, Mongolia, Singapore, Japan and USA. It also has an expanding solar business in China and Japan and a new flagship wind power business in Vietnam.

Banpu Group is listed on the Stock Exchange of Thailand.

In 2018, the Group’s revenue continued to come primarily from its coal business (US$3 billion in 2018, up from US$2.6 billion in 2017)

Credit: Photo by Greg Goebel, CC BY-SA 2.0

PT Indo Tambangraya Megah Tbk (ITM) is majority-owned by Banpu and is publicly traded. It manages six coal mines in Indonesia, all located in Kalimantan: Indominco, Jurong, Katadin-Embalut, Kitadin-Tundung Mayang, Trubaindo, and Bharinto. In 2018 it acquired PT Nusa Persada Resources (NPR) which owned a mining concession in the area, Central Kalimantan, bringing ITM’s coal reserves to 354 million tons.

Banpu Group Shareholders

Investor Ownership (%) Filing Date
1. Mitr Phol Sugar Corporation Ltd. 5.59 10 Apr 2019
2. Vanguard Group 3.00 31 May 2019
3. Vongkusolkit (Isara) 2.30 10 Apr 2019
4. Social Security Office 2.26 10 Apr 2019
5. TME Capital 1.93 10 Apr 2019
5. Vongkusolkit (Kamol) 1.83 10 Apr 2019
7. Krungsi Asset Management Company 1.57 10 Apr 2019
8. Dimensional Fund Advisors LP 0.93 31 May 2019
9. Aberdeen Standard Asset Management 0.80 10 Apr 2019
10. Vongkusolkit (Supawee) 0.79 10 Apr 2019



Institution Role
Bangkok Bank PCL Underwriter

Structure of Banpu Group


Please note that this information comes from the companies’ available annual reports (2008 to 2019) and websites, as well as other public and subscription-based information sources.

Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. While we have tried to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.

Information Updated: 19 August 2019