Samindo Resources is a prominent investment holding corporation and also a public listed company in Indonesia, engaged in integrated coal mining services industry. As an integrated coal mining service company, we deliver the service that can provide solutions in every stage of coal mining operation.
The scope of Samindo Resources business includes four main activities in an integrated coal mining process. The company owns the majority of shares in four subsidiaries and operates two mining concessions in the province of East Kalimantan.
Samindo Resources shares are owned by various leading entities. Our goal is to create shareholder value in the long run by ensuring that we always stride for better performance.
Good Corporate Governance (GCG) is a reference for companies in running their daily operations to ensure that their operations are well manage. In line with the increased activity undertaken by PT Samindo Resources Tbk, the application of GCG principles is also increasing.
The practice of Corporate Social Responsibility (CSR) has the primary purpose of ensuring that the social interests of various stakeholder groups of Samindo Resources can be fulfilled appropriately and proportionately, especially for people living around the Company’s working environments.
JAKARTA – Until April 2016 PT Samindo Resources Tbk (MYOH) is recorded to have accelerated its debt settlement amounting to US$13.5 million. Through its subsidiaries, PT SIMS Jaya Kaltim had speed up to settle US$11.5 million of debt to KEB Hana Bank.
Corporate Secretary MYOH Hananto Wibowo said that the integrated coal mine service in March 2016 also had settle all its debt on behalf of its subsidiariy PT Samindo Utama Kaltim amounting US$2 million. Hananto said that such acceleration of debt settlement is a continuation of a program started in 2014.
Up to April 2016, total bank loan being settled reached US$29 million, with details US$3.5 million paid in 2014, US$12 million paid in 2015 and US$13.5 million recently settle in 2016.
“Until the end of 2016, we targeted to lower the amount of debt 57%. Referring to such plan, it is expected that by the end of 2016, the remaining debt is less than US$20 million,” said Hananto.
Hananto added that the policy to reduce the debt should not be construed that MYOH will delay its business expansion, on the contrary, currently is preparing to have business expansion. For such a plan to succeed, the Company plans to have Extraordinary General Meeting Shareholders (EGMS).
Agenda of the EGMS is to amend the Company’s Articles of Association to add the business activities to accommodate future business plan,” he explained.