PT Darma Henwa Tbk Announces Achievement Performance to Shareholders
Jakarta, July 1, 2019 - At the Annual General Meeting of Shareholders (AGMS) and the Extraordinary General Meeting of Shareholders (EGMS), PT Darma Henwa Tbk (DEWA) announced the Company's performance achievements in 2018. Amidst global economic conditions that are full of challenges , The Company was able to record better performance than the previous year.
By the end of 2018, the Company succeeded in increasing the volume of overburden to 101.86 million Bcm or an increase of 18.7% compared to the 2017 period of 85.78 million Bcm. The Company's coal production reached 13.31 million tons, or an increase of 4.2% compared to the 2017 period of 12.77 million tons.
"We are grateful that the Company's performance in 2018 has increased, marked by an increase in the volume of overburden and coal production. We are optimistic that we will be able to improve our performance in 2019 with the support of improvements to the Company's fundamentals and in line with the demands of clients who really want to increase production, ”said Saptari Hoedaja, President Director of PT Darma Henwa Tbk.
In terms of financial performance, the Company's Total Assets as of 31 December 2018 increased by 3.3% to USD 415.10 million from USD 401.80 million as of 31 December 2017. Total Liabilities of the Company as of 31 December 2018, also recorded an increase 5.7% to USD 184.29 million from USD 174.25 million as of 31 December 2017.
The Company's equity in 2018 increased by 1.4% to USD 230.80 million, compared to the previous year of USD 227.55 million. This increase was the result of a reduced deficit balance from comprehensive income for the current year of USD 3.25 million in 2018.
In terms of the Income Statement, in 2018 the Company recorded an increase in revenue of 13.7% to USD 276.10 million compared to the same period in the previous year of USD 242.79 million. This increase was due to fundamental improvements in the Company's operations in all its work areas. Comprehensive Income for the Year reached USD 3.25 million, an increase of 34.2% from USD 2.42 million in 2017.
In 2019, the Company is optimistic that it can improve its performance better than the previous year. This is driven by a number of factors, including fundamental improvements in the Company's operations, as well as an increase in the productivity of work tools and human resources. "The Company has made many improvements to operational fundamentals, as well as improvements and increases in productivity of work tools and human resources, which are expected to increase the Company's productivity," said Saptari Hoedaja.
Potential Projects
Facing 2019, the Company is optimistic that it will be able to increase its project portfolio to support its performance. There are several potential projects that are still in the development stage, including the Zinc Mineral Mining Project located in Dairi, North Sumatra, owned by PT Dairi Prima Mineral. The project is currently being developed as an underground mining project. In developing its business, on March 30, 2019, the Company officially received a contract for the construction of a mine road access for the project. The scope of work includes the construction of the Dairi mine access road from the camp to the underground mine portal site and the construction of the Dairi mine access road from Parongil to the camp, with a contract value of Rp 29.995 billion.
Then the Copper and Gold Mining Project in Bone Bolango Regency, Gorontalo Province. In this project, the Company is expected to undertake road construction at an early stage, as well as mining and reclamation activities.
And lastly is the Gold Mining Project located in Central Sulawesi and South Sulawesi, owned by PT Citra Palu Minerals. In this project, the Company is expected to work on infrastructure and earthworks.
Change of Management Composition
In the Annual General Meeting of Shareholders, the Company changes the composition of the management, namely:
Approved the appointment of Mr. Saptari Hoedaja as President Director.
Approved the appointment of Mr. Faisal Firdaus as Director.
Approved the reappointment of Mr. Hannibal S. Anwar as Independent Commissioner.
Approved the re-appointment of Mr. Ivi Sumarna Suryana as Director.
Approved the reappointment of Mr. Djajeng Pristiwan Andalaswanto as Independent Director.
Approved the re-appointment of Mr. Agus Efendi as Director.
Thus, the composition of the Company's Board of Commissioners and Directors is as follows:
BOARD OF COMMISSIONERS:
President Commissioner: Muhammad Lutfi
Vice President Commissioner: Suadi Atma
Commissioner: Gories Mere
Commissioner: Endang Ruchijat
Independent Commissioner: Kanaka Puradiredja
Independent Commissioner: Hannibal S. Anwar
DIRECTORS:
President Director: Saptari Hoedaja
Director: Faisal Firdaus
Director: Ivi Sumarna Suryana
Director: Agus Efendi
Independent Director: Djajeng Pristiwan Andalaswanto