Dian SwastatiKa (DSSA) from Loss to Profit of US$ 120.07 Million
Net profit for the year attributable to owners of the parent entity PT Dian Swastatika Sentosa Tbk (DSSA)
jumped to US$ 120.07 million in 2021, compared to last year's net loss of US$ 83.82 million. The company's financial performance report published on the Indonesia Stock Exchange (IDX) yesterday revealed that the increase in profit was in line with the company's revenue growth from US$ 1.50 billion to US$ 2.16 billion. The company also recorded a decrease in net other expenses from US$ 179 million to US$ 117 million. This triggered a surge in the company's profit for the year to US$ 265.33 million in 2021, compared to a loss for the year in 2020 which reached US$ 57.89 million. The company previously through its subsidiary, Golden Energy and Resources Ltd (GEAR), has issued senior secured notes worth US$ 90 million. The notes are offered at an interest rate of 8.5% per annum with a target maturity date of May 2026. The senior secured notes are secured by part of GEAR's assets. Meanwhile, the funds from the corporate action will be used by GEAR through Golden Investments (Australia) Pte Ltd to take part in the offering of pro rata rights to the common stock of Stanmore Resources Ltd. The funds will then be used as a source of funding for the acquisition of 100% shares in Dampier Coal (Queensland) Pty Ltd.
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