Delta Dunia Makmur (DOID) Overburden Removal Reaches 168.4 Million Bcm

Issuerof coalcontractorPT Delta Dunia Makmur Tbk.realizedoverburden removal(OB) of 168.4 millionbank cubic meters(bcm).

Delta Dunia MakmurHead of Investor RelationsRegina Korompis said that in the first half of 2020 the company had peeled off a layer of land totaling 168.4 million bcm.The realization of OB in that period was 11.87 percent smaller compared to last year’s 191.1 million bcm.

According to her, the weakening of the coal market during the pandemic made production decrease.In addition, the issuer with the DOID share code targets to be able to peel a layer of 350 million to 390 million bcm.

Thus, the realization up to semester I / 2020 reached 48 percent of the total target.Regina said the company would not change its production target so far.”We have not revised the target, so we will see until later.The main key right now is the price of coal in the market, “she toldBisnison Monday (7/20/2020).

Regina added that one of the reasons the company did not revise the target was because the clients corrected their respective coal production.The company’s main clients include PT Kideco Jaya Agung, PT Adaro Indonesia, and PT Berau Coal.

According to her, if the price of black gold declined there could be a possibility that production would be affected.But so far the crude oil market has supported coal price movements.”Therefore, none of our customers has revised their target,” she added.

Regina added that the company is currently focusing on optimizing existing assets and minimizing expenditure.This is done to increase productivity and maintain profitability.Previously, DOID was ready to emit foreign currency bonds worth US $ 750 million as an effort to refinancing some debts.

In the company’s prospectus released Tuesday (7/7/2020), DOID will issue as much as US $ 750 million and be listed on the Singapore Exchange Securities Trading Limited (SGX-ST) with

The global debt is neither guaranteed by the company nor by property security rights to the company’s assets and will have a maximum coupon of 10 percent which will be paid every 6 months. The principal debt securities will be paid in full and at the same time the maximum due date is in 2027.

Source: https://market.bisnis.com/read/20200720/192/1268452/realisasi-overburden-removal-delta-dunia-makmur-doid-capai-1684-juta-bcm