Who says the world coal market has started to fade? The proof is, Hineni Seven Resources DMCC, a subsidiary of PT Sumber Global Energy (SGER) Tbk, has signed a new coal sales contract with a Vietnamese company worth USD 35.7 million or around IDR 601 billion.
Quoted from the information disclosure of the Indonesia Stock Exchange (IDX), Hineni Seven Resources DMCC as the seller, has signed a coal sale and purchase agreement with VIMC Shipping Company, on Tuesday, March 26, 2025. The volume of this coal sale and purchase contract reached 500,000 metric tons (MT), worth USD 35.7 million.

This development shows that market confidence in SGER as the parent company of Hineni Seven Resources DMCC is strengthening. So it is natural that the company founded on March 17, 2008, will be increasingly profitable throughout 2025.

This year, SGER's coal sales are quite impressive. The figure reached IDR 14 trillion. The export market of the coal trading company founded in 2008 has expanded to China, Malaysia, India, the Philippines and Bangladesh.

SGER's President Director, Welly Thomas, admitted that there was an extraordinary leap in 2024. "In 2020 after we were listed on the Indonesia Stock Exchange, our turnover continued to increase until last year, we reached IDR 14 trillion," said Welly at Graha BIP, South Jakarta, as quoted on Tuesday, April 8, 2025.

Based on the financial report for the third quarter of 2024, SGER's revenue reached IDR 10.88 trillion, or an increase of 14.30 percent compared to the third quarter of 2023 of IDR 9.52 trillion.

The increase in revenue in the nine months of 2024 was driven by an increase in coal and nickel sales. Consisting of coal sales of IDR 10.65 trillion, or an increase of 12.84 percent annually (year on year/yoy).

Meanwhile, SGER's nickel sales also shot up 211.96 percent to IDR 228.52 billion compared to Q3-2023 of IDR 73.25 billion.

Welly is still optimistic that coal is still needed as one of the energy sources both in Indonesia and abroad. Indonesia in particular will still need coal for the next 15-20 years. Because, coal is the cheapest energy source to date.

"This (coal) is the cheapest source of electricity and many geopolitical situations will support the use of coal. For example, the United States will compete with China. Where, America continues to support the use of coal," said Welly.

Regarding coal reserves in Indonesia, Welly said, it is still very large. For that, SGER is committed to making a real contribution.

In addition, the company wants to be part of the development of green business with sustainable alternative energy sources, as well as building a sustainable business.

"PT SGER always tries to anticipate and take the potential or opportunities of green energy. We decided to be more proactive, enter early so that we have good fundamentals in this field. So that we have superior competence in the green energy industry such as in the coal industry," concluded Welly.