Controversies surrounding tender of power plant projects under the 35,000 MW escalated recently with changes of terms and conditions for the giant 2×800 MW gas-fired power plant Jawa-1 project. State-owned electricity provider PT Perusahaan Listrik Negara (PLN) has earlier sparked controversies for stopping the tender for 2×1000 MW coal-fired power plant project Jawa-5.

WTI crude oil advanced 3.3% to US$47.72 per barrel for June delivery in New York Monday (May 16) on supply concerns. Brent crude also gained 2.4% to US$49 per barrel, lifting shares of oil and gas producers worldwide. Reference price of Indonesian thermal coal for May 2016, however, retreated to US$51.2 per ton, ending two consecutive months of rally.

PT Swakarsa Sinarsentosa, subsidiary of PT Dharma Satya Nusantara (DSNG) Tbk, a plantation company listed on Indonesia Stock Exchange (IDX), has agreed to acquire 15% shares of PT REA Kaltim Plantations, subsidiary of REA Holdings Plc, which is listed on the London AIM.

The benchmark July contracts of crude palm oil (CPO) crashed RM62 to RM2586 per ton Friday (May 13) on the Bursa Malaysia Derivatives, while August contracts fell RM60 to RM2559 per ton, the lowest levels in weeks. Looks like that some market players were concerned about higher CPO output in Malaysia and Indonesia.

After two consecutive months of small gains, investors are now waiting for the reference price of Indonesian thermal coal for May 2016. Further rally might be limited, but corrections are likely to be small as well because crude oil has been hovering above US$40 per barrel for quite sometime now.

PT Golden Energy Mines Tbk (GEMS), coal mining unit of Sinarmas Group, generated sales revenue of US$94.16 million in the first quarter of 2016, an increase of 20.7% from the corresponding period of 2015. Like other coal miners, however, GEMS recorded 41% fall in net profit.

TPS Food (AISA) has decided to sell 2.86 billion or 78.17% of the total issued and paid-up capital of PT Golden Plantation (GOLL) Tbk for Rp521.4 billion to affiliated company PT JOM Prawarsa Indonesia. Is it a good or bad deal for shareholders of TPS Food?

State-owned oil and gas company Pertamina is in the process of acquiring working interest in 13 oil and gas blocks in the country. The Company claims of positive support from the government for the acquisition of two blocks namely East Kalimantan and Sanga-Sanga.