Eagle High-Felda Global: Different Mode?
Shares of PT Eagle High Plantation (BWPT) TBk collapsed 9.62% on Monday (Nov 30) on broad market sentiment and uncertainties surrounding the proposed acquisition by Malaysian giant Felda Global Ventures Holdings Berhad.
Energi Mega Persada vs Medco Energi
Oil and gas producer PT Energi Mega Persada (ENRG) Tbk, controlled by Bakrie Family, booked net loss of US$40.09 million in Jan-Sep 2015 against profit of US$33.24 million in the same period of 2014. It is slightly smaller than fellow oil and gas company PT Medco Energi International (MEDC), but why the gap of gross profit margin with ENRG is so big?
Aneka Tambang: 9M Results & Outlook
State miner PT Aneka Tambang (ANTM) Tbk booked net loss of Rp1.04 trillion in Jan-Sep 2015, almost doubled from the corresponding period of 2014 due to squeezed margins, share of loss of associates & joint ventures, and losses in foreign exchange translation.
Mixed Figures from United Tractors
United Tractors (UNTR) sold only 71 construction machineries (Komatsu) last month, the lowest in many years, due to across the board weaknesses. Coal mining contracting subsidiary Pamapersada, meanwhile, produced 8.5 million tons of coal, down significantly from 9.1 million tons in the previous month.
Luhut-Rizal vs Sudirman-SKKMigas on Abadi LNG
Coordinating minister for politics, law, and security affairs Luhut Pandjaitan has openly supported Rizal Ramli, coordinating minister for maritime and resources affairs, regarding the development of Abadi LNG in Masela Block, offshore Maluku province. What’s up?
Speculation on Panigoro-Newmont Deal
Shares of Medco Energi Internasional (MEDC) jumped 16.81% this morning with significant trading volume as some speculated on reports about Arifin Panigoro’s plan to acquire majority shares in gold-copper producer PT Newmont Nusa Tenggara (NNT). Newmont, however, poured cold water on the issue saying ‘no discussion related to our assets in Indonesia have met all of our sales criteria’.
Commodities & Shares
The benchmark February 2016 contracts of crude palm oil (CPO) ended higher by more than 1% to RM2300 per ton on the Bursa Malaysia Derivatives Wednesday (Nov 25) to tracking crude oil, which regained grounds and closed above US$43 per barrel yesterday.
Panigoro Acquires Newmont, Medco?
Some are still caught by surprises, while others shared doubts on Arifin Panigoro’s claim of acquiring 76% shares in PT Newmont Nusa Tenggara (NNT) for US$2.2 billion. How would he finance the acquisition? Has the government allowed him to acquire the remaining 7% shares to be divested by Newmont to Indonesian entities?
Panigoro Acquires Newmont, Bakrie?
Businessman Arifin Panigoro, founder of Medco Group, has reported to coordinating minister for maritime and resources affairs Rizal Ramli on Wednesday about his plan to acquire 76% shares of PT Newmont Nusa Tenggara (NNT) for US$2.2 billion. This is a confirmation of our earlier speculation about NNT.
The 35,000 MW Program So Far
Six months after President Jokowi formally kicked off the 35,000 MW program, we finally see it gaining traction. Mitsubishi Hitachi Power Systems Ltd announced on Tuesday the award of a contract to supply an ultra-supercritical-pressure boiler and flue gas desulfurization (FGD) system for a 1,000 MW expansion of Cirebon coal-fired power plant in West Java province.