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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$425 million as of December 31 st, 2020, the Company’s consolidated net debt to EBITDA ratio was 2.2x.
Given the rebound in coal price towards the end of the year which continued to strengthen in the beginning of 2021, gradual volume recovery is expected in 2021 on the back of coal improvement. The Company shall remain focused on securing new contracts, liquidity preservation, optimization of existing assets and cost reduction to gain momentum and seize opportunities as market recovers.
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Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
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- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
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