MYOH Targeted 10.8 Million Tons of Coal Production

JAKARTA -  coal mining contractor issuer PT Samindo Resources Tbk. (MYOH) is targeting overburden / OB volume of 58 million bank cubic meters (bcm) and coal production of 10.8 million tons.

Investor Relations of PT Samindo Resources Tbk. (MYOH) Ahmad Zaki Natsir said that in 2019 the company targets OB volume of 58 million bcm and production of 10.8 million tons. The volume increased slightly from the estimated realization of 2018 of 55 million bcm and 10.4 million tons respectively.

"The driving factor in 2019 is that MYOH activities are more focused in pits with high stripping ratios," he told Bisnis, quoted Friday (12/21).

According to Zaki, the coal industry in 2019 has slowed down a bit, because China as the world's largest coal consumer has reduced absorption. This makes imports less and affects the fundamentals of black stone globally.

"The outlook [the coal market] tends to slow down somewhat due to Chinese factors," he added.

Meanwhile, as of September 2018 MYOH posted revenues of US $ 175.20 million, up from US $ 133.29 million. Net income reached US $ 21.51 million from the position as of September 2017 worth US $ 8.63 million.

At the close of trading Friday (21/12), MYOH shares fell 0.48% to Rp1,045. Prices still soar 49.29% during the year. Market capitalization reached Rp2.31 trillion with a PER of 5.39 times.