In less than two weeks listed on Indonesia Stock Exchange (IDX), PT Mandiri Herindo Adiperkasa Tbk ( MAHA ) immediately stepped on the gas to boost performance. MAHA has signed a contract extension for coal hauling services worth IDR 1.2 trillion from PT Kideco Jaya Agung (KJA).

KJA is a coal producer subsidiary of PT Indika Energy Tbk ( INDY ). This contract extension covers transportation services with a total target of 35 million tons of coal for 5 years (2023 – 2027). Meanwhile, Mandiri Services is one of the largest mining transportation service providers in Indonesia.

Main Director of MAHA Yenny Hamidah Koean revealed that MAHA's partnership with KJA had lasted for 24 years, starting from the first contract in 2000. Yenny also expressed her appreciation to the President Director of KJA, M. Kurnia Ariawan, for the continuation of this collaboration.

"Mandiri Services is trying to maintain the stability of KJA's operations by achieving the target of transporting coal safely and securely. We will ensure that the partnership that has been established so far is always good and long-lasting, so that it can benefit both parties," said Yenny in a release received by Kontan.co .id, Thursday (3/8).

Yenny said that extending the contract period for coal hauling services was one of MAHA's efforts to build a sustainable business. As for 2023, MAHA has set a guidance volume for transportation of 7 million tonnes of coal.

Apart from KJA, MAHA has also collaborated with one of INDY's subsidiaries, namely PT Multi Tambangjaya Utama ( MUTU ) through a coal transport contract in the Ampah area, South Barito since 2018.

As a reminder, MAHA officially took the floor on the IDX on July 25 2023. MAHA's share price has skyrocketed from the offering price of IDR 118 per share. In today's trading (3/8), MAHA strengthened 7.30% to a price level of Rp 294 per share.

Image source: https://mha.co.id/

Source: https://investasi.kontan.co.id/news/mandiri-herindo-maha-raih-kontrak-rp-12-triliun-angkut-batubara-anak-usaha-indika