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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
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