Dharma Henwa's Revenue Projected at US$300 Mn
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Thursday, 7 August 2008 11:23:48
Integrated coal mining company PT Dharma Henwa Tbk (DEWA) is predicted to book
revenue of US$300 million in 2008 or 32.74% higher than US$226 million in 2007.
On assumption the company's net profit margin is 5% in 2008, the net profit
will be US$15 million during that period, Dharma Henwa's corporate secretary
Devindra Ratzarwin told e-bursa.com on Wednesday (6/8) in Jakarta.
Ratzarwin said the company's revenue in 2008 is expected to come from contracts
with PT Kaltim Prima Coal (KPC) and PT Arutmin. He said the contract with KPC
in Bengalon (East Kalimantan) is life of mine contract worth US$2.6 billion.
Meanwhile, the exploitation of Arutmin's Asam-Asam mining site is meant to
supply 10.23 million tons of coal per year to State Electricity Company PLN,
and the project is worth US$2.1 billion with period of 2010-2030, he said.
He said the two mining sites have coal reserves of 164 million and 204 million
tons each, and the company expects Bengalon to produce eight million tons in
2008 and Asam-Asam 800,000 tons. "Asam-Asam still has low production, because
the mine is still under preparation," he said.
Until June 2008, the company already used capital expenditure (capex) of
IDR554.50 billion for purchasing equipment in a bid to increase facilities at
the two projects, he said. He added that the capex was financed with proceeds
of the company's IPO in September 2007 that reached IDR1.06 trillion.
(irawan/was)
