Author: yosefardi.com

Promising EV Sales Data Supports Nickel

LME nickel price dropped significantly in the past few trading days. The last quoted price was US$13,310 per ton, fell from recent high of US$15,250 per ton in late June. Sales data of electric vehicles in USA, Europe, and, especially, China, however, will likely support medium-long term prospect of the commodity.

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People on the Move

Indonesia’s sixth president Susilo Bambang Yudhoyono (SBY) has been released from hospital Thursday (Jul 19) afternoon. SBY, who is chairman of Democratic Party, is scheduled to meet Prabowo Subianto, chairman of Gerindra Party, in the coming days to discuss possible coalition in next year’s presidential election.

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Japan June Trade Surplus Jumps 66.5%

Japan’s trade surplus widened 66.5% to JPY721.4 billion in June of 2018 from JPY433.2 billion a year earlier. Exports grew by 6.7% year-on-year to JPY7,052 billion, following a 8.1% rise in the previous month. Imports went up much softer at 2.5% to JPY 6,330 billion, after a 14% gain in May. Considering the first six months 2018, Japan’s trade deficit narrowed to JPY609.9 billion from JPY1.02 trillion in the same period of the preceding...

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BRI Agro Eyes $139 Million from Right Issue

BRI Agroniaga (AGRO) targets to raise Rp2 trillion from planned rights issue in September 2018. It will issue 5 billion new shares, representing 27.1% of its enlarged capital, priced at Rp100 per share. The Bank plans to use the fund from rights issue to strengthen the capital structure and to boost loan growth. It targets to enter BUKU III bank category with minimum core capital of Rp5...

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Adaro Plans to Double Kestrel Mine Production

Coal miner Adaro Energy (ADRO) aims to double Kestrel Mine‘s production to bring the company become one of the world’s largest coking coal producers. Kestrel produced 4.25 Metric ton (Mt) of hard cooking coal, had marketable reserves of 146 Mt and resources of 241 Mt. ADRO aims to raise Kestrel Mine’s production to 10 million metric tons of coking coal per year. The acquisition of Kestrel Mine by ADRO is expected to finalize in the coming months, including the shifting in management...

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Anticipated Actions of Pertamina

Minister of state-owned enterprises Rini M Soemarno has on June 29, 2018 approved proposals from the board of directors of state oil and gas company Pertamina to conduct some corporate actions in a bid to maintain a healthy financial status. Some of them will open opportunities for strategic investors in both upstream and downstream sides of Pertamina’s business.

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More on the Sting Operation in Labuhanbatu

The Corruption Eradication Commission (KPK) officially announced the chronology of case that led to the Sting Operation in the evening of July 17, 2018. The KPK named three suspects in the case including the Regent of Labuhanbatu, North Sumatera, one Pangonal Harahap (PDI-P). One suspect, however, is currently on the run. The person ran away with the bribe money that was supposed to be delivered to Pangonal. The other names mentioned by the KPK matched with those we mentioned previously.

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Update on SNP Finance’s PKPU

PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) once again submitted their peace proposal to the creditors. But not much has changed that the creditors are still unsatisfied with what they’ve been presented. Meanwhile, the Ministry of Finance have finished examining Deloitte Indonesia (who supposedly played a crucial role in the case) and is preparing sanctions for the firm.

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Papua Election, the Status Quo & 2019 Race

The General Election Commission (KPU) has on Wednesday (July 18) published the result of its official tally on the 2018 gubernatorial election in Papua. It’s victory for incumbent Lukas Enembe and his running mate Klemen Tinal. As for the election in Mimika regency, the KPU has not yet officially published the result of its tally, but the local election commission (KPUD) has already done so. It’s also a victory for the incumbent.

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