Coal Journal
Shares of coal producers listed on Indonesia Stock Exchange (IDX) have gained significantly in the past few months. Adaro Energy and Indika Energy, for example, have gained more than 100% each. Looks like that investors anticipated recovery in coal prices, which have been delayed for more than two years now.
Revisiting Natuna East Block
A third stand-off between Indonesian authorities and Chinese fishermen in the Natuna Sea recently might be a blessing in diguise for the long-delayed development of Natuna East oil and gas block. President Joko ‘Jokowi’ Widodo has ordered cabinet members to speed up development of one of the world’s largest gas reserves.
Revisiting Holding Co for State Plantations
PT Perkebunan Nusantara III, operating holding for state plantation companies, is currently one of the largest producers of crude palm oil (CPO), natural rubber, and tea in the world, generating sales revenue of Rp36.2 trillion or around US$2.8 billion last year.
Geo Energy: More Coal Acquisition
SGX-listed Geo Energy Resources Ltd acquires a 98.73% shares in PT Tanah Bumbu Resources, which holds coal concession with 44.4 million tons of mineable coal in South Kalimantan, for US$90 million. The acquisition basically doubles the Company’s mineable coal reserves.
Who Acquires Provident Agro’s Plantation Assets?
IDX-listed plantation firm PT Provident Agro (PALM) Tbk has decided to divest shares in four plantation and trading subsidiaries with combined indicative enterprise value of Rp2.7 trillion to PT Galanggang Maju Bersama (GMB) and PT Mandhala Cipta Purnama (MCP). Who are people behind GMB and MCP?
Holding Co for State Miners
Ministry of state-owned enterprises is finalizing the establishment of holding entity for state-owned mining companies, which would consolidate Aneka Tambang (ANTM), Bukit Asam (PTBA), Timah (TINS), and INALUM. Combined with future ownership in Freeport Indonesia, the new entity will become one of the largest mining companies in the world.
Corrections in Palm Oil
The benchmark September 2016 contracts of crude palm oil (CPO) crashed RM117 to RM2238 per ton on the Bursa Malaysia Derivatives Friday (July 8) to tracking crude oil and responding higher output in Indonesia and Malaysia.
Oil & Gas: New Kids on The Block
Low energy prices, regulatory regime, and restructuring of portfolios led to in-and-out of investors in Indonesian oil and gas sector. In the past few years, we’ve seen the emergence of new names like ACL International Ltd, Mandala Energy Ltd, or HyOil Pte Ltd in Indonesian oil and gas industry.
Revisiting Benakat Integra
PT Benakat Integra (BIPI) Tbk, a coal logistic company, has just released its financial statement for the period ended December 31, 2016. Auditors gave qualified opinion to the report in relation to the breach of financial covenants by subsidiary Nixon Investments in relation to the loan facilities arranged by Credit Suisse.
Coal Journal: Agritrade Resources
Reference price of Indonesian thermal coal for July 2016 is set at US$53 per ton for CV 6322 Kcal/Kg, 2.3% higher than June (US$51.81), but still 10.41% below July 2015. This is the second highest after January 2016. Further rally, however, might be capped by higher supply in the seaborne market.