DSSA Shares Drop 17.86%, Sinar Mas Group Secures Rp 1 Trillion Credit Facility

Shares of PT Dian Swastatika Sentosa Tbk (DSSA), a subsidiary of Sinar Mas Group, plunged 17.86% to Rp 39,450 during trading on February 7, 2025.

Throughout the session, 1.81 million DSSA shares were traded across 1,393 transactions, with a total transaction value of Rp 77.38 billion.

Despite the decline, DSSA shares attracted buyers. Maybank Sekuritas Indonesia recorded a net buy of Rp 15 billion, while foreign investors posted a net buy of Rp 5.66 billion, bringing the total purchase transaction value to Rp 33.5 billion.

DSSA shares have been on a downward trend from February 4 to 7, after briefly reaching Rp 49,725 on February 3.

DSSA Secures Rp 1 Trillion Loan from BNI for Expansion and Operations

Amid stock price fluctuations, DSSA signed a Rp 1 trillion credit facility agreement with PT Bank Negara Indonesia Tbk (BBNI) or BNI.

The loan is secured by company assets and will be used for operational needs and subsidiary development.

"This credit facility is intended to finance general corporate purposes, including operational costs and subsidiary development," said DSSA Director, Hermawan Tarjono, in a disclosure on Friday (February 7, 2025).

With this additional debt, DSSA's net debt-to-equity ratio has risen to approximately 17%.

DSSA’s Financial Structure: Total Liabilities Reach US$ 1.58 Billion

According to financial reports as of September 30, 2024, DSSA recorded total liabilities of US$ 1.58 billion, consisting of:

• Short-term liabilities: US$ 822.02 million
• Long-term liabilities: US$ 767.83 million

Meanwhile, total equity stood at US$ 1.92 billion, an increase from US$ 1.72 billion at the end of 2023.

Total DSSA assets during this period reached US$ 3.51 billion, comprising:

• Current assets: US$ 1.81 billion
• Non-current assets: US$ 1.69 billion

DSSA’s Net Profit Drops 34.41%, Revenue Down 45.22%

On the performance side, DSSA posted a net profit of US$ 243.8 million or approximately Rp 3.69 trillion over the first nine months of 2024. This represents a 34.41% year-on-year (YoY) decline compared to a net profit of US$ 371.7 million in the same period the previous year.

The drop in net profit aligns with a 45.22% revenue decline to US$ 2.24 billion, down from US$ 4.09 billion.

DSSA’s revenue for January–September 2024 was primarily derived from:

• Coal mining and trading sector: US$ 1.19 billion
• Steam and electricity supply: -US$ 207,767 (negative earnings)
• Trading segment: US$ 12.5 million
• Cable TV, internet, and technology services: US$ 43.05 million
• Other income: US$ 249,257

With this new credit facility, DSSA aims to strengthen its financial structure and support business expansion, particularly in the energy and digital infrastructure sectors.

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