Jun 18, 2010

Delta Dunia Makmur and debt burden

PT Delta Dunia Makmur Tbk (DOID), parent company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), has always 'something' to jolt the stock investor.
After DOID made announcement to cease potential acquisition of majority stakes of PT Berau Coal Energy, which is now in frenzy to strive unveiling US$600 million bonds and US$300 million of initial public offering, on May 31, Delta Dunia came with the statement to reach agreement of coal subcontracting with PT Darma Henwa Tbk (DEWA) on June 10.
Under the 3 year subcontracting agreement, BUMA will provide 6 million tons of coal production with 60 million bank cubic meters of overburden removal. How about Delta Dunia's expensive debt? To read the remaining stories, please subscribe to log in.
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