Category: Commodities

Q3 Results: Plantation Firms (4)

Unlike Bumitama Agri and First Resources, SGX-listed plantation firm Kencana Agri Limited reported a net loss of US$6.34 million in the third quarter (Q3) of 2018—widened from loss US$1.38 million in the corresponding period of 2017, mainly due to foreign exchange (forex) loss of US$7.45 million. In Q3 of last year, the Company only recorded a forex loss of US$2.37 million.

Read More

Eagle High & Peter-Felda (2)

Shares of Eagle High Plantation (BWPT), a company co-owned by Peter Sondakh’s Rajawali Corpora and Malaysia’s Felda Group, ended lower by 1.88% to Rp157. That means BWPT has market capitalization of Rp4.95 trillion, way below Rp7.5 trillion paid by FIC Properties Sdn Bhd (Felda unit) for 37% shares in the palm oil producer. 

Read More

State Capitalism: Bukit Asam

PT Bukit Asam Tbk (PTBA), coal mining subsidiary of state mining company INALUM, booked net profit of Rp3.93 trillion in the first nine months of 2018, jumped by 49.7% from the corresponding period of 2017, thanks to higher average prices of thermal coal. PTBA shares are among best performing stocks on IDX with 98.4% gain year-to-date.

Read More

Coal Journal

While waiting amendment of Government Regulation No. 23/2010 regarding extension of the coal contract of works (CCoWs), miners continue to report strong growth. Golden Energy and Resources Ltd, a company controlled by Sinarmas Group, for example, produced 15.9 million tons in the first nine months of 2018, jumped by 58% from the corresponding period last year.

Read More

Energy Commodities: Part Ways

WTI crude oil fell sharply by 7.21% to US$55.68 per barrel Tuesday (Nov 13) in New York amid rising production and a softening in US President Donal Trump’s oil sanctions on Iran. Brent oil also declined by 6.56% to US$65.64 per barrel after OPEC lowered further its forecast for oil demand, which is linked to potential slowdown of global economy.

Read More

Amendment of PP No.23/2010

The Government of Indonesia is to soon publish the sixth amendment of Government Regulation Number 23 Year 2010 (PP 23/2010) on Minerals and Coal (Minerba). The Ministry of Energy and Mineral Resources (ESDM) will follow suit by promulgating the Minister of ESDM Regulation Number 11 Year 2018 (Permen ESDM 11/18).

Read More

Flat Q3 of PGN

Oil and gas company PT Perusahaan Gas Negara (PGN) Tbk (PGAS), which is now a subsidiary of state-owned company Pertamina, reported a flat growth for its operations in the third quarter (Q3) of 2018. Its bottom line growth was slightly weakened due to a jump in foreign exchange (forex loss), and higher income tax expenses.

Read More

Commodities & Politics

WTI crude oil fell to below US$59 per barrel this morning to represent month-on-month fall of 18.32%. Naphtha, meanwhile, declined further to US$533 per ton, representing m-o-m correction of 24.64%. Natural gas, on the other hand, gained 3.25% to US$3.92, representing year-on-year gain of nearly 24%.

Read More

Major Coal Producers & Their Contracts

The famous first generation of coal contract of works (CCoWs) will expire next year to 2025. Arutmin Indonesia is the closest to expiry: 2020, followed by Kaltim Prima Coal (KPC) in 2021 and Adaro Indonesia in 2022. What if the State decided not to extend their contract, and that the assets will partially be given to state utility company PT Perusahaan Listrik Negara (PLN) as capital injection?

Read More

Strong Q3 for Indo Tambangraya

Coal producer Indo Tambangraya Megah (ITMG) reported strong growth for the third quarter (Q3) of 2018 period, as net profit jumped 43% to US$96 million and revenues grew 46% to US$606 million. Gross profit also surged 50% to US$203 million, as cost revenues increased lower than revenues.

Read More

Q3 Results: Plantation Companies (3)

Unlike most plantation companies listed on Indonesia Stock Exchange (IDX), Bumitama Agri Ltd, a company listed on SGX, reported net profit of Rp1.04 trillion in the first nine months of 2018, an increase of 7.5% from the corresponding period last year. This company was benefited from significantly higher output to offset downfall of crude palm oil (CPO) prices.

Read More
Loading
error: Content is protected !!