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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
 PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
According to the website of the company, PT Delta Dunia Makmur Tbk. or more commonly referred to as Delta Dunia is a publicly listed company established under the laws of the Republic of Indonesia and domiciled in Jakarta. The Company’s shares have been listed on the Jakarta Stock Exchange (currently Indonesia Stock Exchange) (“IDX”) since June 15, 2001. The Company was originally established on November 26, 1990 under the name of PT Daeyu Poleko Indonesia. Since then the Company has undergone several name changes over the years, and lastly, was named PT Delta Dunia Makmur Tbk. in 2009.
In November 2009, the Company acquired 99.9% shares of BUMA and subsequently, divested its property business. Since then, the Company’s main business has been focused on coal mining contractor services.
As a holding company, the Company has an operational subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”), which is one of the largest coal-mining contractors in Indonesia by production volume. While its other two subsidiaries, namely PT Banyubiru Sakti (“BBS”) and PT Pulau Mutiara Persada (“PMP”) are non-active entities previously holding coal exploration permits.
PT Delta Dunia Makmur recorded an improved EBITDA margin YoY of 29.4% for FY 2020, despite 31% decline of EBITDA YoY of US$164 million on the back of COVID-19 pandemic and prolonged weakness in the coal market throughout 2020, the company said in its latest newsletter.
According to the report, overburden removal volume for 4Q 2020 was 52.1 million bcm, 34% lower from 79.0 million bcm recorded in 4Q 2019. Coal production was 11.4 million tonnes in 4Q 2020, 5% lower compared to 12.2 million tonnes in 4Q 2019. Volume was weaker as customer tends to curb volume growth towards the end of 2020, given the overall lower demand from impact of COVID-19 pandemic. As rainy season has started, there has been increase in rain hours which also impacted Q4 2020 volume. Despite coal price starting to show recovery toward end of 2020, volume recovery is expected to lag.
The report further noted that, net revenues of the company for 4Q 2020 was US$108 million, 44% lower YoY than US$191 million recorded in 4Q 2019. EBITDA was US$13 million for 4Q 2020, a 68% decrease compared to US$39 million in 4Q 2019. Lower revenues were mainly the impact of low rates and certain relief measures provided to customers for mutual sustainability amid weakness in coal market. In anticipation of expected volume recovery in 2021, the Company also incurred upfront costs for reactivation of equipment and people in Q4 2020, further impacting EBITDA.
Net loss of US$19 million was recorded for 4Q 2020 compared to US$8 million net loss in previous year. The pandemic has weakened the global and coal market throughout 2020, affecting the Company’s profitability from slower business activities, despite aggressive cost efficiency measures taken to address the issue.
With prudent liquidity preservation measures, the company said, cash flows remained strong with free cash flows generation at US$234 million and operating cash flows at US$153 million in FY 2020. Total capital expenditure spent was US$24 million for FY 2020, 67% lower compared to the same period last year as we optimized existing capacity. With net debt of US$425 million as of December 31 st, 2020, the Company’s consolidated net debt to EBITDA ratio was 2.2x.
Given the rebound in coal price towards the end of the year which continued to strengthen in the beginning of 2021, gradual volume recovery is expected in 2021 on the back of coal improvement. The Company shall remain focused on securing new contracts, liquidity preservation, optimization of existing assets and cost reduction to gain momentum and seize opportunities as market recovers.
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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- ICICI Bank Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Indonesian Coal Mining Association
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- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
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- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
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