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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, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Independent Power Producers Association of India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
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