This Coal Mining Contractor Company Receives Syndicated Financing of IDR 920 Billion

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Delta Dunia Makmur Tbk's subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), obtained sharia syndicated financing with a total financing facility value of 60 million US dollars or the equivalent of IDR 920 billion.

In this financing facility, PT Bank Muamalat Indonesia Tbk. participated worth 50 million US dollars while acting as a Mandated Lead Arranger (MLA), facility agent and collateral agent. This financing will last for five years until 2028.

As a coal mining contractor company, BUMA Director, Nanang Rizal Achya, revealed that this funding will be used to support corporate actions and support BUMA's operational activities.

"We hope that this collaboration can also continue into wider cooperation. We are proud and grateful for the support of financing facilities from Bank Muamalat," said Nanang, Thursday, September 14.

On the same issue, SEVP Enterprise Banking Bank Muamalat Irvan Y. Noor said that his party welcomed the synergy with Delta Dunia Group through one of its subsidiaries, BUMA. According to him, this collaboration can also be an entry point for Bank Muamalat to provide services to BUMA employees, including multi-purpose financing.

"This participation certainly further strengthens Bank Muamalat's portfolio in the corporate financing segment and shows our active commitment in supporting national companies, especially in the energy sector. "Apart from that, we are optimistic that this contribution can increase market confidence in Bank Muamalat, which is currently in the process of listing on the Indonesian Stock Exchange," said Irvan.

For information, BUMA as part of the Delta Dunia Group is one of the coal mining contractors in Indonesia that has successfully implemented a diversification strategy.

This diversification includes, among other things, metallurgical coal mining activities, especially through expansion into Australia by acquiring BUMA Australia in December 2021.

In Q1 2023, Delta Dunia Group's metallurgical coal and infrastructure business managed to contribute 15 percent of group revenue.

Supported by operational success in Indonesia and Australia, the company's diversification strategy and operational performance succeeded in increasing revenue by 409 million US dollars or the equivalent of IDR 6.13 trillion or an increase of 23 percent compared to the previous year.

"This is a big step for us. We hope that the collaboration with Bank Muamalat will have a positive and sustainable impact for both parties in the future," concluded Nanang.