Aneka Tambang, Cita Minerals, & Indonesia’s Alumina Smelters

Indonesia officially has two alumina smelters now. One smelter grade alumina (SGA) is operated by PT Well Harvest Winning Alumina Refinery (WHW)—a JV between Harita Group’s Cita Mineral Investindo (CITA) and China Hongqiao. One chemical grade alumina (CGA), meanwhile, is operated by a joint venture between Aneka Tambang (ANTM) and Showa Denko (Japan). Financials?

Eagle High & Peter Sondakh’s Tax Amnesty

Eagle High Plantations (BWPT) is among the most volatile stocks in the market. It has gained 58% year-to-date, but fell 30.6% from its recent peak. Investors continue to speculate on possible deal between BWPT’s controlling shareholder Rajawali Group (Peter Sondakh) and Malaysia’s Felda Group.

Coal Shares & China Data

Shares of coal producers regained grounds Wednesday, but peers retreated in the region. Other than increasing production in the United States in the past few months, production and consumption data in China remains the most influential issue to watch.

Oil & Gas Balance

In the past few months, the upstream oil and gas regulatory agency SKKMigas continued its public campaign reminding Indonesians that their country is no longer an oil and gas wealthy nation. Limited discovery of major reserves in one hand and higher domestic consumption on the other hand, SKKMigas warns, lead to higher future risks. In the first 10 months of 2016, the country suffered US$4.58 billion of deficit in oil and gas trading, down 15.2% only from the same period last year.

Revisiting Delta Dunia Makmur

Delta Dunia Makmur (DOID) is among the best performing stocks year-to-date with 770% gain as investors anticipated improvements in the bottomline. DOID booked net profit of US$25.33 million in the first nine months of 2016 against net loss of US$3.8 million in the corresponding period of 2015.

Ciputra Plantations

Ciputra is household name for property. But, plantation? Well, if you read today’s announcement in one national newspaper, you will learn that Ciputra Group is a serious player in plantation sector through the so-called PT Ciputra Plantation Indonesia. What do we know about the plantation business?

Commodities on Trump

Dr Copper and other metals were lifted by US president elect Donald Trump’s US$1 trillion infrastructure plan. On London Metal Exchange (LME), copper, gauge of the global manufacturing industry, ended higher at US$5900 per ton on Friday (Nov 11) against US$5619 per ton on Thursday.

Revisiting Bayan Resources

Bayan Resources (BYAN), controlled by Dato’ Low Tuck Kwong and Korea Electric Power (Kepco), booked net loss of US$8.7 million in the first nine months of 2016 against US$27.13 million in the corresponding period of 2015, mostly due to huge impairment charges on coal assets acquired few years back.

Coal Producers in Q3: ITMG

Indo Tambangraya Megah (ITMG) booked net profit of US$69.6 million in the first nine months of 2016, down 16.1% from the corresponding period of 2015, thanks to significant improvement in the third quarter. Like other coal producers, ITMG reported substantially higher profit margins in the quarter despite lower average prices.

Nickel Industry Update

Nickel has recently returned to above US$11,000 per ton in London Metal Exchange, lifted by broad-based sentiment on metals and specific dynamics in the industry. Relatively stable stock on LME might have also contributed to the recovery.

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