Month: September 2022

Road King’s Toll Investment in Indonesia

Sep 30, 2022 |

Hong Kong-based Road King Infrastructure Ltd continues to boost its investment in Indonesia. On September 27, 2022, its indirectly 75%-owned Kings Bless entered into the conditional sale and purchase agreement (SPA) for acquiring 39.77% equity interest in in PT Jasamarga Semarang Batang (JSB) from PT Waskita Toll Road (WTR), subsidiary of state construction firm Waskita Karya (WSKT), at consideration value of HK$1.98 billion, equivalent to Rp3.82 trillion.

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Indika’s Non Coal Investment

Sep 30, 2022 |

Diversified energy firm Indika Energy (INDY) said its subsidiary, PT Indika Mineral Investindo (IMI), has on September 26, 2022 acquired PT Perkasa Investama Mineral (PIM), adding non coal assets. Indika opts to reduce exposure in coal, and targets the non coal sector to contributing 50% earning by 2025.

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Palm Journal

Sep 29, 2022 |

Crude palm oil (CPO) settled at US$895 per ton in Rotterdam (CIF) Wednesday (Sep 28), a level last seen in November 2020. Malaysian palm oil futures bottomed around the MYR 3,200 per ton mark, a level not seen since February 2021, pressured by prospects of increasing supplies and mounting fears about a global recession-driven demand downturn. It has fallen 27.59% on yearly basis.

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Corporations to Watch

Sep 29, 2022 |

State-owned EPC firm Wijaya Karya (WIKA) is an interesting company to watch. The last quoted price of WIKA was Rp930 to make a market capitalization of Rp8.34 trillion, not even half of its equity (Rp17.4 trillion). 

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Oil Rises for 2nd Session

Sep 29, 2022 |

WTI crude futures extended gains to 4% to trade above $81.5 per barrel on Wednesday, moving further away from 9-month lows touched at $76 earlier in the week, supported by concerns about tight global supplies and after the EIA...

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