Category: Business

Corporate 9M/22 Results

Midi Utama Indonesia (MIDI), operator of Alfamidi stores, booked net profit of Rp309 billion in the first nine months (9M) to September of 2022, grew 57.6% year on year (y/y), as revenues grew 10% y/y to Rp11.5 trillion, and...

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Corporations to Watch

State steel producer Krakatau Steel (KRAS) plans to launch the initial public offering (IPO) of its unit or subsidiary (PT Krakatau Sarana Industri) and to launch the rights issue, offering new shares, in 2023. KRAS’...

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Aseana Controls ABDA

General insurance firm Asuransi Bina Dana Arta (ABDA) announced on Tuesday (November 29) that Aseana Insurance Pte. Ltd has completed the mandatory tender offer for 47.1 million ABDA shares, representing 94.77% of ABDA’s...

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Commodities: Looking good for Indonesia

WTI crude recovered to US$77.4 per barrel in Asian trading this morning on news about production cut, but the commodity has fallen nearly 10% in the past 30 days, which is good for Indonesia. On the other hand, thermal coal surged 8.8% to US$380 per ton, a very profitable price for Indonesia, the world’s largest exporter.

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Revisiting Bukit Asam

Indonesian coal miners may enjoy the bonanza longer as thermal coal surged 8.76% to US$380 per ton on Monday (Nov 28). Tight supplies due to projected production disruption from wet weather in Australia and prospect of stronger demand in the winter season lifted the commodity. 

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Coal Bonanza: Sumber Global Energy

Coal trading firm Sumber Global Energy (SGER), controlled by Welly Thomas, booked profit attributable to owners of  Rp709 billion in the first nine months (9M) to September of 2022, jumped significantly from Rp74 billion only in the corresponding period of 2021, as revenues surged 241% year on year (y/y) to Rp7.48 trillion.

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9M/22 Results of Teladan Prima Agro

Teladan Prima Agro (TLDN), a company engaging in management consulting & palm oil plantations and processing industries controlled by the family of Wiwoho Basuki Tjokronegoro (also shareholder of Indika Energy), booked net profit of Rp560 billion in the first nine months (9M) to September of 20022, doubled y/y.

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Revisiting Indika Energy

Coal miner Indika Energy (INDY) had on 23 November 2022 made a payment of US$160 million, equivalent to Rp2.5 trillion, to ST International Co Ltd (Samtan Co Ltd), an acceleration payment on the acquisition over 100,139 shares in PT Kideco Jaya Agung.

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Coal Bonanza: Baramulti and TBS Energi

Coal miner Baramulti Suksessarana (BSSR), coal miner controlled by Suharya Family, and PT Golden Eagle Energy Tbk (SMMT), controlled by Peter Sondakh’s Rajawali Corpora, reported strong financial performance in the first nine months (9M) to September of 2022, thanks to higher average price of coal.

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