Company Owned By Conglomerate Hary Tanoesoedibjo Collaborates With The Bakrie Family, What To Build?

Illustration. (Photo: Unsplash)

JAKARTA - A company from the Bakrie Group in the mining services sector, PT Darma Henwa Tbk (DEWA) is collaborating with PT MNC Energi and PT MNC Infrastruktur Utama, owned by conglomerate Hary Tanoesoedibjo.

DEWA Chief Investor Relations & Corporate Secretary Mukson Arif Rosyidi said Darma Henwa had signed an umbrella agreement for coal mining with MNC Energi and MNC Infrastructure Utama.

"DEWA will be the mining contractor for MNC Energi and MNC Main Infrastructure," he explained in an information disclosure, quoted from Antara, Wednesday, December 15.

The Umbrella Agreement between DEWA and MNC Energi functions as a master agreement which includes agreements for mining services, coal handling, coal supply/coal sales, transportation, technical assistance, and other relevant agreements.

MNC Energi (MNCE) is the holding company of several coal mining operator companies that have Special Mining Business Permits (IUPK) in Musi Banyuasin, South Sumatra. Meanwhile, the main Infrastructure MNCs are infrastructure and port management companies that support MNCE activities.

According to Mukson, the agreement can increase DEWA's operational activities, as well as contribute to increasing the company's revenue.

"DEWA's business continuity is getting better with the addition of a portfolio," he added.

Previously, PT Indonesia Transport & Infrastructure Tbk (IATA) had signed a Conditional Sale and Purchase Agreement (CSPA) with PT MNC Investama Tbk (BHIT) to acquire a 99.33 percent stake in PT Bhakti Coal Resources (BCR).

The combined valuation of 100 percent of PT Bhumi Sriwijaya Perdana Coal (BSPC) and 53.84 percent and Putra Muba Coal (PMC) of KJPP Kusnanto & Partners is 181.9 million US dollars.

Head of Investor Relations of Indonesia Transport and Infrastructure Natassha Yunita revealed that IATA and BHIT agreed that 99.33 percent of BCR's purchase transaction price was US$ 140 million or equivalent to Rp2 trillion (exchange rate of Rp14,300), 23 percent lower than the valuation of BSPC and PMC. The purchase price is US$ 140 million including seven other IUPs.

By the end of 2021, BCR's revenue is projected to reach USD 74.8 million with EBITDA of USD 33 million. BCR will increase its production to 8 million MT in 2022 and 12 million MT in 2023.

BCR also has supporting infrastructure such as a jetty, and a 12 km haul road. BCR will build a new wharf and haul road to increase its production capacity.