July 27, 2016 2:13 AM ET

Metals and Mining

Company Overview of PT Cipta Kridatama

Company Overview

PT Cipta Kridatama provides mining services in Indonesia. The company offers survey and exploration, modeling (topography and geology), drilling and blasting, overburden removal, mine extraction, transportation, supporting facilities construction, storage and processing facility management, and mine rehabilitation services. It also sells motor graders, dozers, hydraulic backhoes (excavators), drills, and compactors and trucks. It has mining sites in Aceh, Bengkulu, South Sumatra, South Kalimantan, and East Kalimantan. The company was founded in 1997 and is based in Jakarta, Indonesia. PT Cipta Kridatama operates as a subsidiary of PT ABM Investama Tbk.

Gedung TMT 2

3rd Floor

Jl. Cilandak KKO, No. 1

Jakarta,  12560

Indonesia

Founded in 1997

Phone:

62 21 2997 6866

Fax:

62 21 2997 6867

Key Executives for PT Cipta Kridatama

President Director and Chief Executive Officer
Age: 51
General Manager of Human Capital & Administration
General Manager of Plant & Asset
Compensation as of Fiscal Year 2016.

PT Cipta Kridatama Key Developments

PT Cipta Kridatama Secures USD 396 Million Coal Mining Service Contract

PT Cipta Kridatama (CK) secured a new contract for coal mining services worth USD 396 million. The working contract between CK and PT Adimitra Baratama Nusantara (ABN), a subsidiary of PT Toba Bara Sejahtera Tbk, is valid for five years until 2020. The working contract between the two companies was signed by Cipta Kridatama President Director Irfan Setiaputra and Adimitra Baratama Nusantara President Director Hamid Awaludin in Jakarta on May 29, 2015. In the agreement, CK will provide mining services such as overburden removal and heavy equipment rental at the ABN mining site in Sanga-Sanga, East Kalimantan. Throughout the contract period, CK is expected to produce up to 263 million bcm in overburden and ground cover removal. This new CK contract with ABN will reinforce the company's business portfolio in the mining service sector. CK had previously secured a new USD 58.8 million coal mining service contract from PT Mitrabara Adiperdana Tbk, which is part of the Baramulti Group. In addition to the coal business, CK also attained a USD 187 million iron ore mining service contract from PT Adidaya Tangguh.

PT Cipta Kridatama Secures Another Coal Mining Contract Worth $58.8 Million

PT Cipta Kridatama secured another new coal mining contract worth at approximately $58.8 million from PT Mitrabara Adiperdana Tbk. Based on the contract, CK will provide mining services such as overburden removal, coal hauling from pit to ROM and heavy equipment rental in MBAP mining field located in Malinau, North Kalimantan. During the tree years of contract, CK is targeted to be able produce 30 million bcm overburden removal. 5,400 GAR coal production from 1,930 mining area is targeted to reach at least two million tons per year.

Cipta Kridatama Plans IPO After 2015

PT Cipta Kridatama plans to undertake an initial public offering in the next two years, PT Cipta Kridatama’s Chief Executive, Irfan Setiaputra, said. “The IPO is aimed at securing fresh funds, apart from improving transparency and good corporate governance. The IPO was unlikely to happen in 2014 and 2015 as the company was still focusing on enlarging its business. But when we reach a certain point, we will head there [going public].”

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Recent Private Companies Transactions

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