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.
JAKARTA - The positive presence of the coal mining business is a blessing for PT Samindo Resources Tbk (MYOH) with a positive performance achievement. Then the positive impact of the profit achieved by the company decided the issuer of coal mining service contractors to distribute dividends of USD19 million for fiscal year 2018. The amount of dividends distributed rose by 5.3% compared to dividends in the previous financial year of USD18 million.
Said President Director of Samindo Resources, Kim Jung Gyun, the determination of the amount of this dividend was decided at the annual general meeting of shareholders (RUPT). "Dividends distributed amounting to USD19 million for the 2018 period or USD0.00862per shares. "The dividend amount is equivalent to 61.45% of net profit of USD30.92 million in 2018," he said as quoted by the Neraca Daily, Friday (04/26/2019).
The remaining net income as retained earnings and will be used for operations. Just so you know, the company seeks to keep the amount of dividends distributed always increasing every year. "We keep this dividend distributed to shareholders and have a positive impact on stock prices. And its value is always increasing every year as in 2017 at USD17 million, 2018 USD18 million, and 2019 USD19 million, "he said.
Throughout 2018, MYOH posted revenue of USD241.11 million. The realization rose 28.2% from USD188.07 million in 2017. While the company posted a profit for the current year of USD30.92 million last year. This value grew 151.3% from USD12.30 million in 2017. For this year, the company targeted revenues of USD280 million, up 16.13% from the previous year's realization of USD241.11 million.
Samindo Resources Investor Relations Manager Ahmad Zaki hopes that this increase in revenue will be supported by organic activities or increased production volumes this year. In addition, the company is eyeing this year's overburden removal volume of 58.1 million bcm and coal production of 10, 8 million tons. Until the quarter I / 2019, the overburden removal volume reached 12.8 million bcm, while coal production amounted to 3.1 million tons.
The company targets half the volume of overburden removal and coal production to reach half of the 2019 target. This optimism is in line with the rainfall that began to decrease in the second quarter, compared to the first quarter. Zaki said, the rainfall in March 2019 was quite high and became an obstacle to mining .
From the revenue target, the company projects profit that can be booked to reach USD23 million in 2019. This year's profit projection is lower than the previous year's realization of USD30.92 million. "We hope the increase in [income and profit] from organic, not additional income as in 2018. We received a substantial increase due to fuel compensation and distance.The average hauling distance for overburden removal activities increased from an average of 4.5 km, in a few months it had become 7.5 km from the mine location to the dump area, "he said.
According to Samindo Resources Independent Director, Ahmad Saleh, the company is eyeing a new contract from the mine site in Jambi along with the company that obtains business licenses outside East Kalimantan. Meanwhile, the potential for coal production volume is 1 million tons - 2 million tons per year. "There are opportunities outside of East Kalimantan that will contribute to the achievement of our performance," he said.