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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, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
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- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
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- India Bulls Power Limited - India
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- GAC Shipping (India) Pvt Ltd
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- Rashtriya Ispat Nigam Limited - India
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- Baramulti Group, Indonesia
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- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- The Treasury - Australian Government
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
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- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
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- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Australian Coal Association
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- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
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- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- TeaM Sual Corporation - Philippines
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- Videocon Industries ltd - India
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- Energy Development Corp, Philippines
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- Price Waterhouse Coopers - Russia
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