Bukit Asam (PTBA), the state coal producer, which has aggressively expanded into power generation business, is among the best performing stocks with 136% gain year-to-date despite persistent weakness in the thermal coal market. In the first half of 2016, PTBA’s net profit declined by 10.5% to Rp712 billion, dragged down by weaker performance in the second quarter. Investors, however, were betting on bottoming out of coal.To subscribe please click here
