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 (MYOH) will distribute cash dividends for fiscal year 2017. The proposal will be submitted by MYOH management to shareholders at the Annual General Meeting of Shareholders (AGM) to be held in early May 2018.
According to Kim Jung Gyun, President Director of MYOH, in a press statement in Jakarta on Monday (26/2), the amount of dividend to be shared is the same as last year which is about 80% of profit.
In 2017, the total dividend distributed by the coal mining services company reached US $ 17 million for the fiscal year 2016. "The amount is 80% of MYOH's profit in 2016 reaching US $ 21 million," he said.
Kim has not been able to reveal earnings over the past year as it is still in the audit process. Nevertheless, he estimates that the company's revenue in 2017 is relatively the same as 2016 which is around US $ 190 million.
He added that this year it allocates US $ 13.8 million for capital expenditure. About 80% of the funds will be used to purchase heavy equipment such as dump trucks, excavators, cranes and pumps.
For funding sources of capital expenditures, all of them come from the Company's cash. We have enough cash, Kim explained.
This year, Kim continued, the Company also targets to acquire coal mining companies operating in Kalimantan and Sumatera. MYOH management insists it will not acquire 100% of the targeted mining company shares, but will only take over a share of the shares. That is because the core business of the Company is still engaged in the coal contracting sector.
This year there may be one or two expectations. Can produce 1-2 million tons a year or 4-5 million tons a year, he added.
Related to funding, Kim said the acquisition cost is not included in the capital expenditure budget that is budgeted US $ 13.8 million this year. Funds for the acquisition we have prepared from internal cash, he explained.
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