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28 Oct 2022, 09:00 AM

ABM Investama (ABMM) Optimistic that Revenue Can Reach US$ 1.5 Billion in 2022
Towards the end of the year, PT ABM Investama Tbk (ABMM) is increasingly optimistic that revenue in 2022 can exceed the initial target. ABMM Director Adrian Erlangga estimates that ABMM's consolidated revenue could be close to US$ 1.5 billion by the end of this year."(The increase in income) is due to the volume of work and the increase in coal prices," Adrian told on Sunday (23/10).Just so you know, previously ABMM set a revenue target of US$ 900 million - US$ 1.10 billion for 2022. This amount is close to the realization of ABMM's revenue in 2021 which reached US$ 1.01 billion.Dus, according to a rough count of, if ABMM succeeds in scoring revenue of US$ 1.5 billion this year, the increase in the company's revenue will be close to 46.79% compared to the realization in 2021.In addition to setting revenue targets, ABMM also sets a number of operational performance targets. In the coal mining business line, ABMM is eyeing coal production and sales volumes of 13 million-14 million tons each.In 2021, the realization of ABMM's coal production volume amounted to 13.22 million tons, while the realization of sales volume amounted to 13.53 million tons.In the mining contract business line, ABMM set a stripping and removal target aka stripping and overburden removal of 180 million - 200 million bcm by 2022, while the target of leasing equipment for coal extraction is targeted to be equivalent to 30 million-35 million tons of coal.Previously, the realization of ABMM stripping and overburden removal in 2021 amounted to 178.56 million bcm, while the realization of equipment rental for taking ABMM i coal in 2021 reached the equivalent of 30.61 million tons.Until the end of the year, ABMM is still pursuing the same operational target. Adrian did not specify how much the realization of ABMM's operational performance so far. What is clear is that he ensures that the realization of ABMM's operational performance is still in line with the target."The weather is indeed very challenging. But we continue to strive so that all targets can be achieved. Hopefully, all operations will remain safe and be carried out," said Adrian.In addition to maintaining performance to be in line with the target, ABMM also oversees the expansion agenda. In September 2022, ABMM through its indirectly wholly-owned subsidiary, PT Radhika Jananta Raya, effectively acquired 1.76 billion shares or equivalent to 30% of GEMS shares. The acquisition value reached US$ 420 million."(The realization of ABMM's capital expenditure/capex) is close to US$ 600 million including the acquisition of 30% of the shares in GEMS," Adrian said without specifying the details of the capex realization.During January-June 2022, ABMM has posted revenues of US$ 652.20 million, an increase of 51.81% compared to the realization of January-June 2021 of US$ 429.60 million.From the revenue, ABMM pocketed a profit for the current period attributable to the owners of the parent entity aka net profit of US$ 95.48 million in January-June 2022. This amount increased by 73.69% compared to ABMM's net profit in the first semester of 2021 which was US$ 54.97 million.Image source: KONTAN/Dimas Andi ShadewoSource:
28 Oct 2022, 08:00 AM

Mitrabahtera (MBSS) Net Profit Jumps 178%
PT Mitrabahtera Segara Sejati Tbk (MBSS) posted revenue of USD 63.41 million during January-September 2022. An increase from the achievement of the same period last year of US$ 53.76 million.Meanwhile, the net profit for the current period attributable to owners of the parent entity reached US$ 11.5 million until the third quarter of 2022. An increase of 178.45% from the achievement over the nine months of last year which amounted to US$ 4.13 million.In the financial report until the third quarter of 2022, MBSS posted direct expenses of USD 45.48 million. Meanwhile, until the third quarter of last year, this coal shipping issuer recorded a direct load of US$ 42.75 million.The company's gross profit during January-September this year was US$ 17.93 million, an increase from US$ 11 million.Profit before tax was US$ 12.38 million, while in the nine-month period last year the figure was only US$ 4.59 million.Net profit for the current period reached US$ 11.93 million. Up considerably from the same period in 2021 which amounted to US$ 4.59 million.Mbss' total assets as of September 30, 2022 amounted to US$ 203.62 million, an increase compared to December 31, 2021, which was US$ 177.63 million.The company's lialibility until September 30, 2022 reached US$ 26 million, a sharp jump from December 31, 2021, which was only US$ 8.5 million.Image source: Ilustrasi/PerseroanSource:
27 Oct 2022, 10:00 AM

Coal Demand in Europe, Bumi Resources (BUMI) Is Still Focusing on the Existing Market
PT Bumi Resources Tbk (BUMI) has made the existing target market a top priority in the midst of developing European market opportunities.Director and Corporate Secretary of BUMI, Dileep Srivastava said, his party is still focusing on meeting coal supply to existing customers."Rainfall continues to be high, the availability of coal supply is currently quite tight, making it difficult to meet the demand from the European Union for the time being," said Dileep when contacted by (23/10).As previously reported by, the Central Statistics Agency (BPS) noted that coal exports to the European Union reached $ 161.69 million in September 2022. This amount increased by 68.05% from coal exports to the European Union in August 2022 which amounted to US$ 96.21 million.In addition to growing on a monthly basis, the realization of coal exports to the European Union in September was also touted as the highest export value in the last year."Coal exports to the European Union of US$ 161.69 million, from our export records, are the highest value in the last four years," said Deputy for Distribution and Services Statistics of BPS, Setianto in reading the results of the trade balance in September 2022, Monday (17/10) at the Central BPS office, Jakarta.Meanwhile, BUMI's target market is more targeting the Asian market. BUMI's annual report in 2021 stated that as much as 62% of BUMI's total coal production in 2021 was absorbed by the international market, while the remaining 38% was absorbed by the domestic market. In detail, the international market in question consists of China as much as 29%, India 10% and Japan 8%."When our production starts to normalize later, we can only consider new target markets," said DIleep.Until the end of 2022, BUMI will pursue a coal production target of 70 million - 78 million tons. During January-June 2022, BUMI has posted coal production of 34.5 million tons, down around 14% compared to the realization of January-June 2021 which reached 40.1 million tons.Meanwhile, the realization of BUMI's coal sales volume reached 33.8 million tons in January-June 2022, shrinking by 16% compared to the realization of the January-June 2021 period which reached 40.2 million tons.Even so, the decrease in sales volume by 16% was successfully offset by an increase in the average selling price (ASP) of 92% on an annual basis or year-on-year (YoY) in January-June 2022.As a result, BUMI's financial performance was boosted. The company's audited interim financial statements show that BUMI's revenue rose 129.62% on an annual basis from THE original US$ 421.86 million in the first half of 2021 to US$ 968.68 million in the first half of 2022.From the revenue, BUMI pocketed the Current Period Profit attributable to the Owners of the Parent Entity, aka net profit of US$ 167.67 million. This amount increased by 8768.17% compared to the realization of the first semester of 2021 which amounted to US$ 1.89 million.Image source: KONTAN/Kenia IntanSource:
27 Oct 2022, 09:00 AM

Chakra Jawara Launches Iveco T-Way, Truck for The Most Extreme Offroad Terrain
PT Chakra Jawara officially markets the Iveco T-Way truck for the most extreme offroad terrain in Indonesia. The launch was carried out to meet the increasing demand for heavy trucks in line with infrastructure development which is the main focus of the government.President Director of PT Chakra Jawara Teophilus Bambang Wira said, the automotive market in Indonesia is currently getting better, including in the heavy truck sector. Gaikindo data shows that heavy truck sales in Indonesia in the first semester of 2022 reached 11,657 units."The ongoing infrastructure development also gives hope that the need for heavy equipment, including heavy trucks, will continue. This is one of the reasons we launched the latest Iveco T-Way series," said Teophilus in a written statement, quoted on Monday (24/10/2022).He revealed that Indonesia is the first country in Asia to launch the latest Iveco T-Way series. He also emphasized that PT Chakra Jawara is committed to being the best integrated truck solution provider in Indonesia.To get closer to customers throughout Indonesia, PT Chakra Jawara in addition to having its head office in Jakarta, also has eight branch offices in Balikpapan, Samarinda, Kuala Kencana, Kendari, Muara Enim, Curug, Banjarmasin, and Surabaya"In addition, we also have 12 support sites in Meulaboh, Bengkulu, Banyuwangi, Batu Hijau, Wetar, Nunukan, Berau, Batu Kajang, Morowali, Sorowako, and Timika," said Teophilus.The operations of PT Chakra Jawara are also supported by 235 technicians, three rebuild shops, three training centers, mobile services, truck recondition programs, part exchange component programs, and contract service for fleet customers.Meanwhile, Head of Asia Region Iveco Koray Kursunoglu said, the launch of Iveco T-WAY adds to the long footprint of travel in Indonesia. Together with Chakra Jawara as a partner in Indonesia, Iveco continues to strive to be the most reliable and best vehicle provider for consumers by continuing to improve the experience, especially for commercial vehicles."This vehicle is designed and built to complete the most demanding tasks in the most extreme conditions. The Iveco T-WAY also allows consumers to operate trucks with more advanced, tougher and more robust technology," Koray said.SEA & Japan Iveco Business Director Michelangelo Amelia appreciated the cooperation that has been established with PT Chakra Jawara for 22 years since 2000 to market IVECO products in the Indonesian market."Indonesia is an important market for us and we hope that in the near future Iveco can be even more advanced in the Indonesian market. We are committed to continuing to bring the best products with the latest technology that emphasizes performance and reliability," said Amelia.Iveco trucks are widely used for various needs ranging from the mining, gas, and petroleum industries, construction, logistics, forestry, and special vehicles such as firefighting and others. For Indonesia there are three types of trucks offered with horsepower ratings ranging from 290HP -550HP.Image source: investor.idSource:
27 Oct 2022, 08:00 AM

Optimization of Coal Utilization, PT CBE Appoints Local Consortium to Build Coal Processing Plant
Having a coal supply contract exclusively to the Sumsel-1 Mine Mouth Power Plant (MT), PT Cakra Bumi Energi (CBE) immediately moved quickly. Especially for the construction of Coal Processing Plant (CPP) facilities.For the CPP construction process, PT CBE appointed a consortium of PT Nusatama Berkah Tbk. and PT Unggul Ejawantah Industri as the contractor for the construction of the CPP. This was stated in the Signing Ceremony of the Head of Agreement Coal Processing Plant Construction in Jakarta, Thursday (20/10/2022).Bomba Group CEO, Todotua Pasaribu said the CPP is a series of major projects, namely the Sumsel-1 2x350 power plant project. Bomba Group is also in its power plant as the owner of the transmission. According to him, this event is also a form of Bomba Group's commitment to synergize with other companies in the development of coal projects."We are committed to this development, in line with the desire to advance the region, especially in the South Sumatra region, especially since this coal will later be supplied to the Sumsel-1 coal-fired power plant," said Todotua Pasaribu in his statement, Thursday (20/10)Meanwhile, director of PT CBE, Rudolf Tulus explained that his party is ready to join hands with domestic companies to be able to collaborate on a large project. "In the process of building the CPP facility, we will collaborate with PT Nusatama Berkah Tbk. and PT Unggul Ejahwantah Industri," said Sirait.At the Signing Ceremony, the Head of Agreement Coal Processing Plant Construction was attended by President Director of Bomba Group, Adios Purnama, Vice President Director of Bomba Group, Alvin Reynaldi Setiawan, CEO of Bomba Group, Todotua Pasaribu, President Director of PT Nusatama Berkah Tbk, Ir. Bambang Susilo and representatives of PT Unggul Ejawantah Industri, Ir. Ismu Prasetyo.It is known that PT Cakra Bumi Energi (CBE) is an Operating Company of Bomba Group which is engaged in the Energy sector. And Bomba Group itself also has a minority stake in the MT Sumsel-1 power plant, while the majority of the shares are owned by Shenhua Group, which is a Chinese state-owned enterprise.The Commercial Operation Date (COD) plan of PLTU MT Sumsel-1 based on the Power Purchase Agreement (PPA) is in the fourth quarter of 2023 and the COD CPP target in the second quarter of 2023," Tulus explained.Further explained, the coal production plan for supply to pltu MT Sumsel-1 amounts to approximately four (4) million tons annually during the Power Purchase Agreement (PPA) contract period between PLTU MT Sumsel-1 and PLN. "We have not been able to disclose the value of the CPP facility construction contract for the time being," he said.Tulus also added that PT CBE has planned a mining method that prioritizes environmental sustainability and there is a plan to build a solar power plant around the site for PT CBE's internal needs."The projection of TKDN or local content in this project is in the range of 82-88% and is also projected to absorb local workers up to 100 people," Tulus concluded.On the same occasion, the President Director of PT Nusatama Berkah Tbk, Ir. Bambang Susilo expressed his gratitude for the opportunity given to the consortium to carry out CPP development work in Muara Enim, South Sumatra."This CPP is very important for the operation of the Sumsel-1 coal-fired power plant, which is now 70 percent of construction. We will carry out this mandate as well as possible. Our company is also quite experienced, and the area in South Sumatra is also quite familiar," said Bambang.Image Source: investor.idSource:
26 Oct 2022, 10:00 AM

Operating Smelter, Kapuas Prima Coal (ZINC) Boosts Lead Production
The lead smelter of PT Kapuas Prima Coal Tbk (ZINC) began operating in June 2022. The issuer of zinc base metal producers will boost galena mineral production after the processing plant or smelter appreciates.To note, galena is the main ore containing lead and zinc which is found in many igneous and metamorphic rocks. Later, galena will be processed into lead (Pb) and zinc (Zn) concentrates.ZINC Director Evelyne Kioe said this lead smelter is the first and only one in Indonesia. The company is aiming to produce thousands of tons of lead as an initial stage."We target this year that this lead smelter can produce up to 8,000 tons of lead bullion (Pb), with a sales target from the smelter reaching USD29 million," evelyne said in her statement, Thursday (20/10/2022).Until the end of September, the company's zinc concentrate production this year reached 15,311.67 tons, aka still dominating compared to the same period the previous year of 19,141.09 tons.Meanwhile, lead concentrate production was 5,687.98 tons, lower than the same period last year of 7,229.70 tons.Reflecting on 2021, the company produced zinc concentrate as much as 28,978.80 tons, lower than in 2020 which was 39,974.04 tons. The production of lead concentrate in 2021 was 12,021.79 tons, lower than 2020 which was 12,658.68 tons.Image source:
26 Oct 2022, 09:00 AM

Indonesian Coal Well demanded in Europe
Indonesia's coal sells well. Since the Russian-Ukrainian war took place, European countries have sought substitution for their coal imports to Indonesia. It is noted that until now, those who order coal from Indonesia continue to grow.In September 2022, Indonesian coal orders came from several European countries such as Poland, the Netherlands, Greece, Spain and Germany. Most recently, the Indonesian Coal Mining Association (APBI) noted that Indonesia also exports coal to Slovenia."I don't know exactly about the additional exports because they are Bussines to Bussines (B to B). In fact, there are also shipments to countries such as Greece, Slovenia, although there are not many," said Hendra Sinadia, Executive Director of APBI to CNBC Indonesia, Monday (24/10/2022).Previously, in September 2022, in the UNOFFICIAL APBI, the number of coal exports from Indonesia to European countries reached 3.5 million tons to 4 million tons. Exports to Europe with this amount, said Hendra became the first largest in history.Hendra said, compared to previous years, the volume of Indonesian coal exports to Europe is usually less than 1 million tons per year. "Of course, there is a significant increase in the number. This is not an official figure yet, if indeed the amount (4 million tons) is the largest (in history)," explained Hendra to CNBC Indonesia, Tuesday (4/9/2022).Hendra cannot say for sure which European countries order coal from Indonesia. What is clear is that the news obtained by Hendra, Indonesia's coal exports to European countries were sent to Poland, the Netherlands, Greece, Spain to Germany. "Exactly how much is reported to be 3.5 million tons - 4 million tons," said HendraImage source: Dok: Black Diamond ResourcesSource:
24 Oct 2022, 08:00 AM

Industry Players Confusion: Tin Exports Ban
Tin entrepreneurs or miners and tin exporters were shocked and confused over the government's plan to impose a ban on tin exports. The government will stop tin exports and ask to develop downstreaming by 2023.Chairman of the Indonesian Tin Exporters Association (AETI), Jabin Sufianto said, that currently tin exports carried out by Indonesian entrepreneurs or miners have been purified through the process of processing and refining facilities (smelters).The content or content of tin that has been exported reaches 99.99% or Tin Ingot Sn 99.99. "What I said is that we can already produce up to 99.99%. So we are confused, it is said that there are still downstream products in terms of ESDM, because it means that it can still be optimized, is there any added value, right? What does he mean to pursue? 0.01?" said Jabin to CNBC Indonesia in the Mining Zone, Quoted on Thursday (13/10/2022).Jabin stated that so far the exports carried out have been in the process of integrated smelters. Therefore, when there is a plan to ban tin exports with downstreaming, it questions what the downstreaming in question looks like."We are confused, frankly, we are miners we are an integrated smelter. So we mine we have a smelter melted and it has been refinancing so how many sets, so our product is 99.99% which is also world standard and others," said Jabin.On the plan to ban exports, Jabin stated that the government has not involved business actors and academics who fully understand the world of estimation.So he assessed that the ban on exports and downstream development in the country would be very ineffective if there was no road map. "This will be banned from exports only. Instead of what, this ban on tin exports is always in line with bauxite. There are always raw words," Jabin said.The Minister of Investment or Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia said that in 2023, the government will ban tin exports abroad."If tin is likely next year, we will no longer do raw exports because we will do downstreaming," explained Bahlil when met, Tuesday (11/10/2022).The reason for stopping tin exports, said Bahlil, is because Indonesia is the 2nd largest tin producer in the world after China. Well, to develop the value of tin exports, it is necessary to carry out downstreaming for this tin sector."Because earlier, the President has conveyed that downstreaming is the key word for national economic resilience. We are behind the uncertainty of the global economy," Bahlil said.Previously, said Bahlil, although Indonesia became the country with the 2nd largest tin producer in the world, Indonesia was considered unable to play its role in determining the price of tin in the world.This happened because so far, tin exports carried out by Indonesia are only raw goods. Therefore, in order to be strong and can be a determinant of tin prices in the world, Indonesia will carry out downstreaming in the tin sector."More ironically, the price of tin is controlled by the state not producing tin, this is funny, it's magical, it's bin Abu Nawas' theory, which we don't tolerate going forward and we have to start (downstreaming)," Bahlil explained.Bahlil described that, today the world's first largest producer of tin is China. Where, China has downstreamed 50% to 70% in its country. Meanwhile, in Indonesia, downstreaming has only reached 5%.Image source: REUTERS/StringerSource:
21 Oct 2022, 10:00 AM

ATS Appreciates PT Vale to Support Vocational Training Program
PT Vale Indonesia Tbk. received appreciation from the management of the Sorowako Academy of Engineering (ATS) for its commitment to providing support to vocational training programs.The appreciation was conveyed by the Director of ATS, Harjuma, at the Open Senate Meeting in the Context of the Graduation of XXIX Diploma III of the ATS Machine Maintenance and Repair Study Program, Saturday (15/10/2022) at the Onte Luwu Building, Sorowako. According to him, PT Vale has a very large contribution in encouraging the improvement of the quality of students.One of them is realized through the collaboration of PT Vale, ATS and the East Luwu Regency Government (Pemkab) through the Manpower and Transmigration Service in an effort to develop appropriate technology (TTG). The output of this collaboration is the fabrication of agricultural machinery or machine tools (alsintan) that have been used by beneficiaries of community empowerment programs."Thank you and the greatest appreciation for the cooperation that has been established between ATS and PT Vale and the East Luwu Regional Government in order to assemble machines to support the needs of community empowerment programs," said Harjuma.Several machines that have been assembled by ATS to support community development and empowerment (PPM) programs since 2021 until now, including work equipment for assisted farmers, such as grass pullers (pattora), hoe sickles, machetes, weed weeding tools (gasrok), cultivators/handtracktors, compost boxes, and chopper machines. In addition, the repair of three-wheeled motors, out of a total of 60 items of alsintan including operational support for the HIPHO Healthy Home, such as rhizome slicers, shredding machines, drying ovens, and others.PT Vale's Senior Manager of Social Development Program (SDP), Ardian Indra Putra, said there are many benefits of the synergistic program model that has been running at this time, such as improving the skills of students through the training provided."We hope that the benefits of this synergy can be more because the training side of course this will add skills. The campus also carries out community service. Meanwhile, from the community side, the beneficiaries of the program (the government and PPM PT Vale). It also feels very helpful if its high-cost alsintan can be repaired again, produced new, and even obtained education or manuals for the use and maintenance of tools. So that it can also reduce the burden of government program spending while boosting the regional innovation index," he said.He revealed that the output of the Vocational Short Training, which was initiated by the East Luwu Regency Government since 2008, is also expected to not only encourage the competitiveness of young people who are ready to work in various companies. More than that, it has the opportunity to grow independence, for example through vocational skill-based entrepreneurship."In the 2022 Musrenbang, the Regent of East Luwu stated that it would be more strategic to encourage the agricultural and tourism sectors as the leading contributors to the district's GRDP in the future. This vocational initiative is in line with these opportunities," he said.Image source: rakyatku.comSource:



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