KPB Nusantara, the joint marketing office of state plantations, withdrew all of five CPO packages (7000 tons) auctioned off Monday (May 9) due to low bids. The benchmark July contracts of CPO, however, jumped RM33 to RM2661 per ton on the Bursa Malaysia Derivatives.

Malaysian company Kulim Sdn Bhd has agreed to extend the closing of the transaction to acquire 60% equity interest in PT Citra Sarana Energi (CSE), which holds oil and gas block in Sumatra, for another six months to November 6th, 2016.

PT Multi Tambangjaya Utama (MTU), coal concession holder controlled by Indika Energy (INDY), has recently signed a six-year US$108 million mining services contract with PT Mitra Abadi Mahakam (MAM). Indika said MAM is not affiliated to the group. So, who’s behind MAM? Will it help Indika, given price paid by the company in the acquisition of MTU?

State-owned oil and gas company PT Perusahaan Gas Negara (PGAS) Tbk booked net profit of US$101 million in the first quarter of 2016, down 8% from the corresponding period of 2015, but mainly because of significantly higher non-cash losses in foreign exchange translation.

Nickel returned to US$9460 per ton in London Metal Exchange (LME) Friday to tracking rally of commodities, while copper settled at US$5045 per ton after several days of corrections. Volatility remains out there, but charts point to bottoming out of commodities.

Adaro Energy (ADRO) is among the best performing stocks year-to-date with 41.7% gain despite Friday’s correction. Still, Adaro Energy is valued only half of its equity. The second largest coal group, interestingly, reported improved margins in the first quarter despite substantial decline of thermal coal prices.

Shares of Timah (TINS), one of the largest tin producers in the world, ended lower by 2.44% to Rp800 as some investors realised gains after gaining 72% from its bottom in early January. Others responded negatively Timah’s weak performance in the first quarter of 2016, when it posted net loss of Rp139 billion against Rp6.4 billion in the corresponding period of 2015.

State coal producer PT Tambang Batubara Bukit Asam (PTBA) Tbk posted net profit of Rp332.6 billion in the first quarter of 2016, down slightly from Rp340.3 billion in the corresponding period of last year, but mainly due to 37% jump in income tax expenses. Overall, the Company reported a strong quarter amidst significant fall of thermal coal prices.

WTI crude oil for June 2016 delivery advanced 3.35% to US$44.07 per barrel on Nymex Tuesday, while Brent crude gained 3.1% to US$45.86 per barrel, buoyed by weaker USD and perception about possible lower output due to significant cut of capital expenditures by oil and gas companies worldwide.