• ADRO’s subsidiary obtained USD 4.1M loan
Alamtri Resources Indonesia (ADRO)’s subsidiaries, namely Adaro Clean Energy Indonesia
(ACEI) and Karimun Sarana Surya (KSS) have carried out affiliate transactions by signing loan
agreements. According to the information disclosure, ACEI provided a loan to KSS with a
value of up to USD 4.1M on 23 Dec 24. ADRO management stated that the aim of this
transaction is to develop business in the non-coal mining sector as well as create a more
balanced business portfolio and become an important contributor to long-term value
creation. Management explained that by developing green energy projects and utilizing
innovative technology, ADRO will not only increase competitiveness but also have a positive
impact on the environment and society. The development of this renewable energy project
is carried out by ADRO through ACEI and its subsidiaries. KSS, as a subsidiary of ACEI, is
currently developing a renewable energy project in Karimun Regency, Riau Islands.
Therefore, ACEI provided a loan to KSS based on a loan agreement to realize the development
of the project. (Kontan)
• CMRY is confident to achieve the 2024 target
Cisarua Mountain Dairy (CMRY) recorded sustainable operational performance growth in
9M24 and is on track to achieve this year’s target. Throughout 2024, CMRY targets revenue
of IDR 8.97T, which represents an increase of 15.47% yoy compared to IDR 7.7T last year. On
the financial side, CMRY recorded a net profit of IDR 1.15T in 9M24 (+19.57% yoy), in line with
revenue, which grew 15.58% yoy to IDR 6.63T. The dairy products segment contributed IDR
2.83T to revenue, while consumer food products recorded sales of IDR 3.79T. CMRY also
continues to develop and launch innovative products, both in the Premium Dairy and
Premium Consumer Foods segments. Several new products that CMRY has launched
towards the end of this year are Yogurt Bites and Spicy Chicken Nuggets, which are expected
to strengthen further the company’s position in the processed food market. Apart from
developing new products, CMRY also carries out other strategies to maximize business. One
of them is investing in marketing and brand investment activities, especially digital
marketing to increase brand equity in the marketplace. This year, CMRY has also prepared a
capex budget of IDR 400-500B for company infrastructure development. However, more
detailed information regarding the use of capex has not been provided, especially regarding
plans for Christmas and New Year. (Kontan)
• CUAN prepared funds of IDR 2.42T to produce metallurgical coal
Petrindo Jaya Kreasi (CUAN) has produced metallurgical coal through its subsidiary Daya
Bumindo Karunia (DBK), which was funded from a credit facility with a value of IDR 2.42T.
CUAN carries out metallurgical coal production in its operational area in Central Kalimantan
as part of its portfolio diversification efforts. Currently, CUAN’s subsidiary, namely DBK, is
integrating production facilities through the construction of office facilities, fuel storage
warehouses, employee residences, as well as mining road infrastructure facilities along
approximately 149 km that connect operational areas with intermediate stockpile locations.
The integration and development of DBK’s facilities is also carried out by its subsidiary,
namely Petrosea (PTRO) as an integrated multidisciplinary mining contract and EPC
company. Apart from mining roads, Petrosea provides other supporting infrastructure
services to DBK, such as the construction of employee camps, offices, warehouses, fuel
storage and jetties, as well as mining services which include overburden removal and coal
production activities. (Bisnis Indonesia)
