Samindo Resources is a prominent investment holding corporation and also a public listed company in Indonesia, engaged in integrated coal mining services industry. As an integrated coal mining service company, we deliver the service that can provide solutions in every stage of coal mining operation.
The scope of Samindo Resources business includes four main activities in an integrated coal mining process. The company owns the majority of shares in four subsidiaries and operates two mining concessions in the province of East Kalimantan.
Samindo Resources shares are owned by various leading entities. Our goal is to create shareholder value in the long run by ensuring that we always stride for better performance.
Good Corporate Governance (GCG) is a reference for companies in running their daily operations to ensure that their operations are well manage. In line with the increased activity undertaken by PT Samindo Resources Tbk, the application of GCG principles is also increasing.
The practice of Corporate Social Responsibility (CSR) has the primary purpose of ensuring that the social interests of various stakeholder groups of Samindo Resources can be fulfilled appropriately and proportionately, especially for people living around the Company’s working environments.
PT Samindo Resources Tbk's overburden removal activities by the end of 2017 exceeded the target. The target is 48 million bank cubic metre (bcm) to 51.6 million bcm.
The integrated coal mining services company noted overburden removal grew by 7.4%. Investor Relations Samindo Resources, Ahmad Zaki Natsir, said the overburden removal activity is the main source of revenue of the company coded MYOH shares in Indonesia Stock Exchange.
This activity grew 7.4% compared to last year's achievement. The 2017 target could be exceeded due to the addition of new projects with Bayan Group. The new project, which accounts for 2.3 million bcm of overburden business.
The Bayan Group project only started in mid-year. "In addition, the production of overburden from Kideco mine also increased by 2.5%," he said.
He claims, the achievement is remarkable considering that throughout the year 2017 various obstacles have the potential to inhibit the closure of overburden. Among other very high rainfall.
Just so you know, in addition to cessation of operations during the rain, pile of mud in the pit is also automatically increased. So often some heavy equipment must be allocated to move the mud.
According to Zaki, SIMS Jaya Kaltim (SIMS), a subsidiary of Samindo Resources responsible for the overburden removal activity, manages the equipment very well during 2017. The subsidiary handles active contracts with Bayan Group.
These challenges mean that some heavy equipment must be allocated to the Bayan project. "While in 2017 there is practically no addition of tools," he said.
As for this year, Samindo Resources claimed to increase capital expenditure or capital expenditure (capex) up to 300%. The increase is to increase the production capacity of contracts that have been signed by the company.
In addition to the long-standing contract, an integrated coal mining service provider in Indonesia is also eyeing new contracts. The process is still in talks with the client
Increased capex can even exceed 300% compared to 2017. Increased company's efforts in meeting the increased target clients. "So the total of generals, the company's allocated capex in 2018 amounted to US $ 13.8 million," said Zaki.