Jakarta. Techno9 Indonesia (IDX: NINE) is set to pivot from a technology-focused company into the mining sector after securing backing from its Singapore-based majority shareholder, Poh Group, to integrate coal assets in Mongolia through a rights issue.

The listed company said the assets, owned by Poh Golden Ger Resources Pte Ltd (PGGR), will be injected into Techno9 via a preemptive rights offering, marking a new phase in its transformation from a technology-focused firm into a regional mining player. The plan aligns with Poh Group’s broader strategy to expand its mining footprint in Indonesia and abroad.

President Director Nuzwan Gufron said the potential acquisition of the Mongolian assets would be beneficial for shareholders, providing a clearer pathway for asset monetization and deeper involvement in mining projects. The assets comprise two mining concessions for coal and semi-soft coking coal, controlled by Poh Group founder Poh Kay Ping.

As part of the strategy, PGGR has signed a framework agreement with a large-scale Engineering, Procurement, Construction and Finance (EPC+F) contractor from Inner Mongolia, China. The partner plans to invest more than $100 million to develop mining operations for Poh Group or joint projects involving Techno9 and PGGR, with potential annual production capacity exceeding 20 million tons.

Nuzwan said neither Poh Group nor Techno9 would be required to commit capital expenditure for the development, as the investment would be borne by the EPC+F partner. “Through this strategic partnership, Poh Group and NINE will not incur capex, whether for owned mines or joint operations,” he said.

The investment plan remains subject to due diligence and the necessary overseas direct investment approvals from Chinese authorities, with the final investment size to be adjusted based on regulatory clearance.

Nuzwan said the prospective EPC+F partner brings extensive experience in mining operations, having been established in 1998 with more than 1,000 employees and total assets exceeding $500 million. The contractor has spent more than a year studying mining practices and local conditions in both Mongolia and Indonesia, he added.

Techno9 said it plans to register the rights issue to integrate the Mongolian assets by the second quarter of 2026. The company stressed that the transaction would not affect its cash position, as the assets would be injected through the rights issue mechanism rather than a cash acquisition.

Looking ahead, Nuzwan said Techno9 would continue to seek business opportunities across Indonesia and the region to deliver long-term shareholder value, while the Mongolian project is expected to influence Poh Group’s future mining investments in Indonesia, either through joint ventures or direct ownership.