Coal miner Mitrabara Adiperdana (MBAP) reported weaker earning performance in the third quarter (Q3) of 2019 due to expanded costs. It booked a net profit of US$10.21 million in Q3 this year, which is a 28.3% decline from US$14.23 million profit in the corresponding period of 2017. In the first half (H1), Mitrabara’s reported a flat profit at US$34.5 million.
Read MoreGlobal markets rallied on Monday (Dec. 3) as trade tensions eased after the United States (U.S.) President Donald Trump and his Chinese counterpart Xi Jinping agreed to suspend new tariffs for 90 days at the G20 meeting during the weekend. For the time being the U.S. will not increase tariffs to 25% from 10% in January, and China agreed to start purchasing more agricultural products from the U.S.. Over the next 90 days, U.S. and Chinese officials will continue to negotiate.
Read MoreUnlike other coal miners, shares of PT Toba Bara Sejahtra Tbk (TOBA) ended lower by 1.6% to Rp1,565 on Monday (Dec 3rd). At this price, TOBA had market capitalization of Rp3.15 trillion, slightly above its equity (Rp3 trillion by Sept 30, 2018). The stock has also been consistently traded way below peers despite strong performance in the first nine months of 2018.
Read MoreIndonesian military leader in Papua Maj General Yosua Pandit Sembiring and Papua police head Inspector General Martuani Sormin are expected to verify reports about the killing of 31 workers of PT Istaka Karya, contractor for the trans-Papua road, in Nduga, Papua province by members of the Free Papua Movement (OPM).
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