Samindo Resources to Work on New Projects in East Kalimantan

PT Samindo Resources Tbk targets to sign a new project by 2018. This target is a key performance performance indicator (KPI) of the major shareholders to be met by the company with MYOH thicker code.

Unfortunately, Ahmad Zaki, Investor Relations of PT Samindo Resources Tbk admitted that he can not mention which companies will cooperate with MYOH. "Still the current approach, apologize can not be called the company's name," said Zaki when contacted KONTAN, Wednesday (21/2/2018).

Zaki just mentioned, currently the director of PT Samindo Resources Tbk is conducting field visits for its location survey. The target, the signing of cooperation can be done in mid-2018.

The project in East Kalimantan has a contract period of over 5 years. "About seven years if not mistaken, but that is obviously long enough, over 5 years," added Zaki.

In 2018 MYOH worked on two coal mining service contracts, namely PT Kideco Jaya Agung and PT Bayan Resources Tbk. In addition to the two contracts, MYOH will also be working on a new contract that is still cannot be disclosed.

In a joint contract with Kideco, MYOH gets 48.5 million bank cubic meters (BCM) and 10.3 million tons of coal. While the quota of 5.85 million BCM and 450,000 tons of coal is obtained in a contract with Bayan.

Zaki did not specify how many rations MYOH will get in his latest project later. He only mentions the large ratio of contract contributions to total MYOH revenues.

"If Kideco will contribute more than 95% of total revenue, if the latest project will be only about 2%," said Zaki.