Mr MR & Freeport: Money Politics (4)
One famous businessman, identified as MR, is among the names reported by energy & mineral resources minister Sudirman Said to the Ethics Council of the House of Representatives (DPR) for his role in accompanying House Speaker Setya Novanto in series of meetings with leaders of PT Freeport Indonesia, wherein Setya allegedly asking for shares in Freeport.
Setya Novanto & Freeport: Money Politics (3)
House Speaker Setya Novanto, a politician from Golkar Party of Aburizal Bakrie camp, is widely believed the one reported by energy minister Sudirman Said to ethics council of the House of Representatives (DPR) for citing the names of President Joko ‘Jokowi’ Widodo and VP Jusuf Kalla when asking for shares in PT Freeport Indonesia. Novanto dismissed the allegation, but Kalla confirmed the meetings of Novanto and leaders of Freeport.
Beyond Freeport Shares: Money Politics (2)
Shares of Freeport McMoRan dropped by 5.8% on Thursday (Nov 12) in New York Stock Exchange. At the closing price, Freeport has market value of US$10.44 billion only. At its peak in late 2010, Freeport had market value of US$70 billion. So, this might be a good time for the government of Indonesia to acquire 20.44% shares in PT Freeport Indonesia.
Macmahon Wins Martabe Contract
ASX-listed Macmahon Holdings Limited has been awarded a five-year contract valued at approximately US$170 million to provide mining services at the Martabe gold mine in the North Sumatra province of Indonesia. G-Resources, controlling shareholder of the gold mine, meanwhile, yet to announce the management buy-out (MBO).
CPO, El Nino, & Plantation Shares
Shares of plantation companies dropped significantly in the region Wednesday (Nov 11) to tracking downfall of crude palm oil (CPO) in the futures market. Felda Global Ventures lost 3.63% in Kuala Lumpur, while London Sumatra Plantation fell 6.23% in Jakarta. Why El Nino failed to boost CPO prices?
Coal: Where is the Bottom?
Reference price of Indonesian coal (HBA) for November 2015 is set at US$54.53 per ton (for coal with calorific value of 6300 Kcal/Kg), dropped 17.15% from November 2014 due to weak demand in China and oversupply in the seaborne market.
Farm-In/Out in Indonesian Oil & Gas Blocks
Crude oil retreated to US$44 per barrel on Nymex Monday (Nov 9) after moving above US$47 last week. OPEC basket price for November is currently US$42.7 per barrel. That means the commodity has been traded below US$50 for four consecutive months, prompting further consolidation in the industry.
Boustead Acquires Pase Block
A consortium of Boustead Singapore Limited, One North Energy Private Ltd, and Lamara Energy Pte Ltd has offered up to US$32.4 million for Triangle Energy (Global) Limited’s interest in Pase Block in Aceh province, Indonesia.
Sugih Energy: The Giant Oil Trader, Pertamina???
Sugih Energy reported net loss of US$333,443 in January-September 2015 against profit of US$1.77 million in the corresponding period of 2014. This, however, is not interesting. It is the size of its business the most interesting one. In the period, Sugih Energy recorded US$2.37 billion of revenues from oil trading business.
CPO Price & Plantation Shares
Some investors continue to bet on Sawit Sumbermas (SSMS) to make it the most traded plantation stock on Indonesia Stock Exchange (IDX). The Company is currently the ‘most valuable’ in the sector, valued 6.3 x equity, almost four times London Sumatra Plantations (LSIP).