The benchmark October 2015 contracts of crude palm oil (CPO) opened lower by RM22 to RM2098 per ton this morning. While this is not an ideal price to sell plantation asset, one company listed on Indonesia Stock Exchange (IDX) is in the process of selling shares to new controlling investor.

Shares of Noble Group Limited crashed further by 10% on the Singapore Exchange (SGX) today. That means Noble, considered one of Asia’s largest commodity traders, has lost 64% its value since June 2014. At its peak in 2008, Noble was a S$17 billion company. Today it’s worth S$3.5 billion only.

Toba Bara Sejahtera (TOBA), controlled by the family of Luhut B Pandjaitan (chief of the presidential office’s staffs), booked net profit of US$7.06 million in the first half of 2015, dropped 36.8% from the corresponding period of 2014. Not a surprise. Coal prices and sales volume declined significantly in the period.

Broad market sentiment on China hit mining stocks worldwide. BHP Billiton opened lower by 2% in Sydney this morning, while Bumi Resources (BUMI) finally became ‘gocap stock’ on Monday as it hits the lowest quotable price on Indonesia Stock Exchange (IDX) at Rp50. Some stocks, however, might have been oversold to their fundamentals.

Shares of Freeport McMoRan (FCX) fell sharply 7.5% in New York Monday (July 27) to its lowest level in 12 years despite news that Indonesian government has extended a six-month export permit for its copper concentrates. At the current price, Freeport’s market capitalisation is only US$11.83 billion.

Freeport McMoRan (FCX) booked net loss of US$4.3 billion in the first half of 2015 against profit of US$992 million in the corresponding period of 2014 due to falling price of commodities, including copper and gold. PT Freeport Indonesia, controlled by FCX, however, reported strong results in the same period.