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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
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