Media OutReach
Delta Dunia Group Delivers Steady 9M 2024 Results with Transformative Milestones to Fuel Long-Term Growth
- Despite significant challenges posed by extreme weather conditions in Indonesia and Australia, Delta Dunia Group reported a stable revenue of USD 1.35 billion during 9M 2024.
- EBITDA for 9M 2024 declined by 16% YoY to USD 252.3 million, impacted by weather-related production declines and planned investments.
- Net loss significantly improved to USD 17.4 million, down from USD 26.6 million reported in 1H 2024, despite a 20% increase in finance costs and forward-looking investments. A strengthening currency, stable SOFR rates, and ACG’s results – denominated in USD – supported this improvement.
- Capex increased by 79% YoY to USD 133.1 million, focused on supporting existing site ramp-up and Repair and Maintenance costs. The Group remains on track to meet its full-year capex guidance of USD 150 million to USD 190 million.
- Operating cash flow increased by 2% YoY to USD 232 million, driven by effective working capital management. The Group’s free cash flow was impacted by strategic investments in ACG and contract-linked Capex.
- Net Debt to EBITDA maintained at a healthy 2.17x as of September 2024, with acquisitions like ACG expected to improve the ratio.
- The Group strengthened its operational footprint with significant contracts, including an 11-year, USD 7.8 billion agreement with PT Indonesia Pratama (a Bayan Group subsidiary), a two-year extension at Australia’s Meandu Mine with TEC Coal Pty Ltd, valued at AUD 200 million annually, and a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima in Central Kalimantan. These contracts have effectively tripled the Group’s order book to over USD 12.7 billion.
- The Group also marked pivotal milestones through the transformative acquisitions of ACG, the binding agreement to acquire 51% stakes in the Dawson Complex [1], one of Australia’s largest metallurgical coal mines, and increased investments in 29Metals, an ASX-listed copper-focused base and precious metals mining company.
- Non-thermal coal revenue is projected to reach 28% by the end of 2024, up from 26% in 9M 2024, aligning with the Group’s strategy to reduce reliance on thermal coal and transition towards a more diversified portfolio.
JAKARTA, INDONESIA – Media OutReach Newswire – 20 December 2024 – PT Delta Dunia Makmur Tbk (“Delta Dunia Group” or “the Group”, IDX: DOID) announced stable results for the first nine months of 2024 (“9M 2024”), forging ahead on its path to sustainable growth in key global markets, demonstrating resilience in its operations and financial performance despite extreme weather conditions and operational challenges. The Group is making significant strides in strengthening its core business and laying a solid foundation for future growth through strategic acquisitions and investments.
In 9M 2024, the Group maintained stable revenue of USD 1.35 billion, compared to USD 1.36 billion year-on-year (“YoY”), despite operational disruptions caused by increased rainfall in Indonesia and Australia, which rose by 38% and 53%, respectively. The effective recovery-after-rain initiative limited the decline in overburden (OB) removal to just 9% YoY, while coal production increased by 3%, demonstrating the effectiveness of its mitigation strategies and operational resilience. The Group’s EBITDA declined by 16.4% YoY to USD 252.3 million, impacted by these extreme conditions and planned investments aimed at enhancing the Group’s long-term production capacity.
The strengthening of the Indonesian Rupiah (IDR) and Australian Dollar (AUD) against the US Dollar (USD), along with a stable Secured Overnight Financing Rate (SOFR), has enabled the Group to manage financial pressures more effectively. In 9M 2024, the Group experienced a 20% YoY increase in finance costs due to forward-looking growth investments, leading to a net loss of USD 17.4 million – a significant improvement from the USD 26.6 million net loss reported in the first half of 2024. It’s important to note that this loss is primarily attributed to proactive measures taken to strengthen the Group’s financial foundation, including early debt repayment and bond buybacks. These actions, while impacting short-term results, are expected to reduce interest expenses and enhance financial flexibility over the long term.
Iwan Fuad Salim, Director at Delta Dunia Group, stated, “9M 2024 marked another pivotal phase in our transformation journey, underscored by major milestones solidifying our path toward sustained growth. Our rigorous focus on operational excellence, geographic expansion, commodity diversification, and sustainability positions us robustly in the global mining landscape. Through strategic acquisitions, significant contract wins, and our further diversification toward non-thermal coal and base metals, we are building a diversified, future-ready business that delivers enduring value for all stakeholders.”
Strategic Investments and Important Contracts Fuel Long-Term Growth
The Group has achieved significant milestones that substantially enhanced its future growth. Key developments include an 11-year, USD 7.8 billion contract extension with PT Indonesia Pratama (IPR), a Bayan Group subsidiary, and a two-year, AUD 200 million annual extension for Australia’s Meandu Mine with TEC Coal Pty Ltd. Additionally, a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima (PKP) in Central Kalimantan. These agreements not only spread-out risks but also strengthened the Group’s portfolio’s geographic spread, effectively tripling the Group’s order book to over USD 12.7 billion, reinforcing customer confidence in the Group’s operational capabilities and commitment to long-term partnerships.
The Group also took significant steps to solidify its foundation for sustainable growth through strategic acquisitions. The acquisition of a majority stake in Atlantic Carbon Group, Inc. (“ACG”) marks its entry into the US market, expanding its business into mine ownership. ACG’s financial and performance results, denominated in USD and thereby insulated from foreign exchange risks and currency fluctuations, have been consolidated into the Group’s Q3 2024 results. With the inclusion of ACG’s ultra-high-grade anthracite, non-thermal coal now accounts for 26% of the Group’s revenue, reducing the proportion derived from thermal coal, which currently stands at 74%. Non-thermal coal revenue is projected to reach 28% by the end of 2024.
Moreover, to strengthen its presence as a mine owner, the Group has further entered a binding agreement to acquire a 51% stake in the Dawson Complex, one of Australia’s largest metallurgical coal mines. This high-capacity operation features an annual production capacity of more than 8 million bcm, over 20 years of reserves, and a resource life of 50 years, with a Coal Handling and Preparation Plant (CHPP) capacity surpassing 12 million tons per annum. The Dawson Complex, operational for over 60 years, has fostered strong relationships with key Asian markets, including India and Japan. The Group has also increased its stake in 29Metals Limited, an Australian copper-focused base and precious metals mining company, to advance its diversification into base and precious metals, further reducing its reliance on thermal coal.
Focusing on strategic expansion and diversification, the Group’s capital expenditures reached USD 133.1 million in Q3 2024, marking a 79% increase YoY. These investments enhance operational efficiency and facilitate growth through expansions at existing sites, alongside Repair and Maintenance (R&M) costs that ensure the longevity and efficiency of the Group’s assets, in line with its full-year Capex guidance of USD 150 million to USD 190 million. Simultaneously, improved working capital management led to a 2% increase in operating cash flow, reaching approximately USD 232 million. Free cash flow (FCF) was recorded at USD 80.2 million. However, post-acquisition FCF decreased to USD -35.6 million due to strategic investments, particularly in ACG and contract-linked Capex. These investments represent the Group’s commitment to growth and building a lasting legacy.
Financial Strength and Commitment to Shareholder Value
The Group remains committed to enhancing shareholder value while sustaining a strong financial position through prudent financial management, strategically aligning debt maturity with the lifespan of its operational equipment. As of September 2024, the Group marks a healthy Net Debt/EBITDA ratio of 2.17x. Recent acquisitions, including ACG, are expected to drive improved performance and further strengthen this ratio as ACG’s EBITDA is fully integrated.
The successful issuance of BUMA II 2024 Rupiah Bonds in September 2024, which was 1.4x oversubscribed, demonstrates robust investor demand and confidence in BUMA’s cash flow management and credit profile. This bond issuance has enabled BUMA to secure greater investor commitments for longer-term tenors, significantly enhancing its ability to manage its debt maturity profile effectively.
“We are dedicated to maintaining solid financial management, especially in upholding strong credit metrics and reinforcing our strong presence in the mining sectors in Indonesia, Australia, and the US. The financing strategy we have implemented strengthens our financial foundation and enables us to grow our business, cementing our reputation as a globally diversified mining company,” Iwan concluded.
[1] Subject to Peabody’s acquisition of Dawson, certain pre-emptive rights, consents, and regulatory approvals
Hashtag: #DeltaDuniaGroup
The issuer is solely responsible for the content of this announcement.
About PT Delta Dunia Makmur Tbk (Delta Dunia Group):
Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in Indonesia, Australia, and the USA. Our principal subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd). In June 2024, through PT Bukit Makmur Internasional (BUMA International), it acquired the majority of Atlantic Carbon Group, Inc. (ACG) and became the leading producer of ultra-high-grade anthracite coal in the USA, further strengthening the Group’s global footprint in the mining industry.
In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital (BTech), developing AI deep learning technologies to improve operational efficiency, reduce emissions, and minimize Occupational Health and Safety (OHS) operational risks and PT BISA Ruang Nuswantara (BIRU), a social enterprise dedicated to education, vocational schools, and fostering circular economy.
Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and is supported by a workforce of over 16,000 employees across Indonesia, Australia, and the USA. In June 2024, Delta Dunia Group was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that identifies the region’s largest companies by revenue.
Three new Laguna Phuket developments – spanning lakeside living, golf-front design and Angsana-branded luxury – to be showcased at Park Lane Hong Kong on 16–17 MayCaption
HONG KONG SAR – Media OutReach Newswire – 8 May 2026 – Banyan Group Residences is bringing three of its most anticipated new residential launches to Hong Kong this month, with a two-day sales exhibition taking place at Park Lane Hong Kong (Canvas, 26F) on Saturday 16 and Sunday 17 May 2026, from 11:00 am to 6:00 pm. The event offers Hong Kong buyers a rare opportunity to explore and invest in some of Phuket’s most compelling new addresses, with dedicated sales teams on hand for private consultations.
The exhibitions follow a year of record residential sales for Banyan Group Residences, as growing numbers of global investors look to Phuket as a safe haven for capital – drawn by the island’s political stability, strong rental yields, year-round lifestyle appeal, and the relative value it continues to offer against comparable markets. Demand has been particularly robust from buyers across Asia, the Middle East, and Europe, with Hong Kong remaining one of the Group’s most consistent source markets.
The three projects on show represent some of the most exciting new additions to Laguna Phuket – Asia’s premier integrated resort destination – and span a range of living concepts, price points, and design inspirations, united by the hallmark quality and hospitality expertise of Banyan Group Residences, Asia’s leading branded residential developer by volume.
“Hong Kong has consistently been one of our strongest buyer markets, and we look forward to welcoming buyers in person to discover what we believe is an exceptional line-up of new homes,” said Stuart Reading, Managing Director of Banyan Group Residences. “Whether you’re looking for a holiday retreat, a permanent base in a world-class resort community, or a smart long-term investment, this exhibition offers something genuinely compelling. High-quality property in a prime location at Laguna Phuket still represents outstanding value compared to equivalent homes in Hong Kong or other major cities.”
Bellaguna Lake Residences
Brand new blocks of Bellaguna Lake Residences will be revealed for the first time at the exhibition. Set beside a shimmering lake within Laguna Phuket – steps from Bang Tao Beach – the development takes its design cues from the sleek lines of a contemporary luxury yacht. Five elegantly elongated buildings feature dark wave-like façades and warm, light-filled interiors, with generous private terraces overlooking the lagoon. Residences include one- to three-bedroom condominiums and two- to three-bedroom penthouses with private rooftop pools, as well as a brand new category of two-bedroom residences with private pool.
Bellaguna is Banyan Group Residences’ newest residential brand, conceived specifically for premium year-round living outside of hotel inventory – yet fully supported by the Group’s renowned hospitality management standards.
Bellaguna Golf Residences
Set on land that once formed part of Phuket’s historic tin-mining landscape, Bellaguna Golf Residences draws its design identity from that heritage – soft horizontal lines and sculpted contours reinterpreted through a contemporary tropical lens. Low-rise buildings unfold amid lush gardens and a signature free-form pool, overlooking the fairways of the championship Laguna Golf Phuket course. A brand new block has also just been released for this project, which features a compact one-bedroom configuration, alongside one- to three-bedroom condominiums and two- to three-bedroom penthouses with private pools and sunset golf views.
Angsana Golf Residences Topaz
Inspired by the clarity and elegance of the topaz gemstone, Angsana Golf Residences Topaz comprises three gracefully curved low-rise buildings set within Laguna Phuket, with Sino-Portuguese design accents that subtly reference Phuket’s cultural heritage. The development offers two- and three-bedroom residences and exclusive penthouses with private rooftop pools, all enjoying panoramic views of the golf course, mountains, and the Andaman Sea. A signature rooftop ring-shaped pool completes the picture.
All three projects now have show units available to view at Laguna Property Sales Gallery
Banyan Living
Banyan Group has recently launched Banyan Living, a residential rental and marketing platform created to support owners of branded residences across the Group’s portfolio, while offering guests a professionally managed alternative to traditional home‑sharing platforms.
Developed as a structured, hospitality-led rental ecosystem, Banyan Living enables private owners to generate income from their residences, while providing guests who rent the properties assurance of the design integrity and professional service standards associated with Banyan Group.
Why Phuket, Why Now
Phuket continues to attract growing international interest as both a lifestyle destination and an investment market. Within Laguna Phuket, nationals of some 70 countries have chosen to make the resort community their home, drawn by year-round tropical living, world-class amenities, international schools, medical facilities, and a level of quality and security that is difficult to match elsewhere in the region.
Banyan Group Residences anticipates launching up to USD 1 billion in new luxury residential projects in Phuket over the next two to three years, reflecting the Group’s confidence in the market and the enduring strength of demand from international buyers.
Prospective buyers are welcome to visit the exhibition at Park Lane Hong Kong, Canvas (26F), on Saturday 16 and Sunday 17 May 2026, between 11:00 am and 6:00 pm. Private appointments can be arranged in advance by contacting the team directly.
Hashtag: #BanyanGroupResidences #LagunaPhuket #PhuketProperty
The issuer is solely responsible for the content of this announcement.
About Banyan Group
Banyan Group (“Banyan Tree Holdings Limited” or the “Group” – SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans more than 100 properties, over 140 spas and galleries, and 20-plus branded residences in over 20 countries. Comprising 12 global brands, including the flagship Banyan Tree, each distinct yet united under the experiential membership programme with Banyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.
About Laguna Phuket
Laguna Phuket is Asia’s premier integrated resort destination, set against the stunning backdrop of the Andaman Sea. Spanning over 1,000 acres, the resort features six luxury hotels, an award-winning 18-hole golf course, fine dining, luxury spas, and branded residences. Guests benefit from complimentary shuttle services, a cashless payment system, and access to world-class recreational and wellness facilities.
About Banyan Group Residences
Banyan Group Residences is the property development arm of leading hospitality pioneer Banyan Group, listed on the stock exchange of Singapore. With over 35 years of development experience and an impressive portfolio of residential brands to suit different lifestyles and budgets, it is Thailand’s leading lifestyle property developer with a strong and increasingly international pipeline of projects. The Group’s main residential brands include the flagship luxury Banyan Tree Residences, Angsana Residences, Dhawa Residences, Garrya Residences, Laguna Residences, Cassia Residences, Skypark, Laguna Lakelands, and Bellaguna.
The event marked the first international debut of two insurance companies within Techcombank’s ecosystem — Techcom Life (life insurance) and Techcom Insurance (non-life insurance). Both entities are positioned to build a new generation of insurance, anchored in data, technology, and customer-centricity.
The roadshow featured senior leadership from across the ecosystem, including Mr. Pranav Seth, Chairman of Techcom Insurance; Mr. Mukesh Pilania, Chief Executive Officer of Techcom Life; and Ms. Veo Nguyen, Chief People Officer of Techcombank, alongside other executives leading key functions in technology, distribution, and product development.
Discussions at the event focused on Vietnam’s economic outlook and the evolving role of insurance in its next phase of development. Speakers highlighted the industry’s transition from traditional, product-led models toward data-driven, technology-enabled, and personalized approaches, with increasing emphasis on customer experience and long-term engagement.
Participants engaged in in-depth exchanges with the leadership team, gaining insights into Vietnam’s insurance landscape as well as a clearer understanding of the vision and long-term aspirations behind Techcombank’s newly established insurance businesses. The sessions reflected growing international interest in Vietnam as a high-potential market undergoing structural transformation.
Techcom Life, the group’s life insurance arm, has demonstrated strong early momentum, achieving a trajectory within six months and ranking No.1 in the bancassurance market in Q1 2026. Meanwhile, Techcom Insurance served over 650,000 customers in 2025 through a nationwide network of 280 branches and more than 3,500 sales professionals, reflecting its growing scale in the non-life insurance segment.
Hong Kong, one of Asia’s leading insurance hubs, is part of Techcombank’s broader international roadmap, following previous engagements in Singapore, the United States, Europe, and Australia.
Techcombank plans to continue the Overseas Insurance Talent Roadshow across additional global markets in 2026, as part of its strategy to attract international talent and support the development of a next-generation insurance ecosystem in Vietnam.
Hashtag: #Techcombank
The issuer is solely responsible for the content of this announcement.
Media OutReach
Apple Storage Unveils Hong Kong’s First 17,000 sq. ft. IP-Themed Flagship Concept Store in Tsuen Wan, Featuring Exclusive VIP Lounge
In addition to specialized storage solutions—including dedicated units for clothing, collectibles, books, and bicycle parking—the facility features a groundbreaking VIP Lounge. Customers can enjoy complimentary access to massage chairs and co-working spaces, extending the storage experience into a lifestyle enjoyment. Apple Storage is committed to transforming storage from a utility into an exclusive clubhouse, allowing customers to free up home space while fully immersing themselves in hobbies such as outdoor activities or art collection.
Business-Grade Work Facilities
The branch features a dedicated co-working space equipped with computers, printing facilities, workstations, and charging points. Customers can conveniently handle business or personal administrative tasks, such as printing documents or conducting online research, directly on-site.
Party Room-Style Entertainment
To make the storage process relaxing and enjoyable, Apple Storage has equipped the VIP Lounge with professional massage chairs for immediate post-task stress relief. The Group has upgraded the facilities to rival a “Party Room” environment, featuring billiards, television, and Nintendo Switch consoles. This allows family members to stay entertained while customers manage their storage units at their own pace.
The lounge also includes a spacious communal table, perfect for assembling intricate models or playing board games. Guests can enjoy complimentary coffee and various beverages from the self-service refreshment counter, turning a cold warehouse into a private sanctuary for family time.
Comprehensive Storage Amenities
The facility is equipped with 24-hour support, climate and humidity control, CCTV, smart access control, and regular staff patrols to ensure maximum safety and comfort. Additional amenities such as packing zones, trolleys, and bicycle repair tools are provided for customer convenience. Customers can retreat to the leisure area or VIP lounge whenever they need a break.
Over 120 Branches: Hong Kong’s Leader in Regulatory Compliance
With deep roots in Hong Kong since 2005, Apple Storage has expanded to over 120 branches, serving more than 100,000 customers. Recognizing that safety is always the clients’ top priority, Apple Storage adheres to the highest standards of compliant operations. As an industry leader, Apple Storage maintains close communication with the Buildings Department and the Fire Services Department. Apple Storage takes pride in having the largest network of branches in Hong Kong that have successfully passed inspections by both departments. The Group pledges to continue upgrading fire safety facilities in line with government guidelines to ensure total peace of mind for every customer.
A New Era of Smart Storage: Integrating AI Technology
Apple Storage Group continues to invest heavily in integrating smart technology into its services. Hardware upgrades, including facial recognition systems and smart sensor lighting, have been rolled out across all branches to enhance security and energy efficiency.
On the innovation front, Apple Storage has developed a proprietary Customer Matching System. Utilizing AI data analysis, the system creates tailor-made storage solutions for clients, driving the business toward full digitalization. Currently, the Group is developing an “AI Smart Warehouse” project, which will apply cutting-edge Artificial Intelligence to unit management and customer interaction, signaling a new future for the industry.
Professional & Transparent: One-Stop Moving Team
Apple Storage offers a comprehensive “one-stop” moving and storage service, managed by the Group’s professional brand, APPLE MOVING. The team handles everything from general moving to third-party delivery and pickup. To ensure maximum protection, the team provides packing materials—such as boxes and bubble wrap—in advance of the moving date.
Unlike many local independent movers, Apple Moving operates under a transparent corporate management model. With strict service guidelines and a standardized quoting system, the Group guarantees transparent pricing and strictly prohibits “on-site price hikes” or the solicitation of tips, providing customers with a reliable brand guarantee.
Two Decades of Excellence: Recipient of the “10th Year Award for Hong Kong Service Brand”
Since opening its first branch in 2005, Apple Storage has accompanied Hong Kong families and businesses for over 20 years. Today, with branches in every corner of the city, Apple Storage’s commitment to a “premium environment” and “reliable service” remains unchanged.
The company’s professionalism has earned widespread market recognition, including five consecutive years of Quality Service Certification from the Hong Kong Retail Management Association (HKRMA). In 2026, the Group was honored with the “10th Year Award for Hong Kong Service Brand” by the Hong Kong Brand Development Council. These accolades reflect the trust of over 100,000 customers.
Multi-Brand Synergy: A Comprehensive Storage Ecosystem
The Group’s portfolio includes Apple Storage Premium, U SPACE, Apple Moving, and Apple Wine Cellar, providing a diverse range of integrated storage solutions. From flexible self-storage and professionally managed central storage to door-to-door storage and point-to-point logistics, current services cover every user need.
Apple Storage offers various sizes and specialized units, such as climate-controlled storage for clothing and sneakers, display units for toys, specialized bicycle racks, and flexible shelving units, creating bespoke space solutions for every client.
Driving ESG Strategy for a Green Future
Apple Storage Group has actively implemented ESG (Environmental, Social, and Governance) strategies in recent years. Regarding Environmental Protection, Apple Storage is transitioning to sensor-based energy-saving systems and prioritizing appliances with “Grade 1 Energy Labels.” Apple Storage’s own headquarters has also gone paperless through comprehensive digitalization.
In terms of Social Responsibility, the “Apple Volunteer Team” has collaborated with charities for years to support the underprivileged. Looking ahead, Apple Storage has set clear sustainability goals: a commitment to reduce carbon emissions by 10% within three years and increased investment in philanthropy, including pro-bono moving services and storage space donations. Recently, Apple Storage collaborated with a charity to provide free storage and moving services for residents of Wang Fuk Court, Tai Po, assisting them during their relocation and home clearing process.
Hashtag: #AppleStorage
The issuer is solely responsible for the content of this announcement.
About Apple Storage
With over 120 branches across Hong Kong, Kowloon, and the New Territories, Apple Storage offers professional, compliant, and reliable services. Most branches are conveniently located near MTR stations.
Act Now – Reclaim Your Living Space.
Learn more about our latest offers: https://www.applestorage.com.hk/en/
Inquiry Hotline: 8208 9822
WhatsApp: 
https://wa.me/46383118
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