Barki Enters Medco Energi?
PT Medco Energi International Tbk (MEDC) is now a company with market capitalisation of Rp9 trillion or around 73% of its equity as at March 31, 2015. Encore Energy Pte Ltd, a joint venture between Panigoro family and Mitsubishi Corp, currently is the largest shareholder with 50.7%.
Energi Mega to Sell One Oil Block
Oil and gas company PT Energi Mega Persada (ENRG) Tbk, controlled by Bakrie Family, is reportedly in talks with some investors regarding divestment of its ownership in one oil and gas block.
ARMS/Berau: Sinarmas Revises Up Offer, Rothschild Gives Up
Asia Coal Energy Ventures Ltd (ACE) has revised up its cash offer for shares in Asia Resource Minerals Plc (ARMS), parent company of Berau Coal Energy (BRAU), while Nathaniel Rothschild decided to leave the game.
Palm Oil Journal No. 33/2015: The Rally
The benchmark August 2015 contracts of crude palm oil (CPO) advanced almost 1% to RM2340 per ton Friday (June 5) on Bursa Malaysia Derivatives. In Jakarta’s physical market, KPB Nusantara, the joint marketing office of state plantations, sold CPO packages in the range of Rp8769-8929 per Kg (VAT 10% included).
Eagle High Plantation: Rajawali + Malaysia
Some media outlets quoted sources that Rajawali Corpora, controlled by tycoon Peter Sondakh, would sell portion of its shares in plantation firm PT Eagle High Plantation (BWPT) Tbk to the likes of Cargill. Our sources, however, pointed to a Malaysian plantation giant as strategic partner.
Q&A with Adaro Energy on Electricity Projects
Negative sentiments against coal producers dragged down valuation of Adaro Energy (ADRO). The stock is now valued way below its equity. Like other coal producers, Adaro Energy sees potential growth in domestic consumption from the newly launched 35,000 MW program.
Oil & Gas Journal
Indonesia Crude Price (ICP) went up to US$61.86 per barrel in May 2015, higher than US$57.58/barrel in April, due to decline in US oil inventory. OPEC’s oil inventory also reportedly fell to 27.17 million barrels per day in May, down 0.03 million barrels per day compared to April.
Time to Revisit Mining Stocks?
Some start to wonder whether this is the time to revisit coal-related stocks as WTI crude oil hovers above US$60 per barrel on Nymex. Arch Coal and Peabody Energy responded positively the crude oil rally with more than 10% gains in the past two trading days. Arch Coal...
Debt Market: Soechi Lines’ US$200 Million Notes
Shareholders of Soechi Lines (SOCI), an oil shipper, are scheduled to give approval to the proposed issuance of US$200 million Notes on the Singapore Exchange (SGX) today. SOCI plans to use proceeds from the Notes to refinance its existing debentures and fund investments.
Speculation Surrounding Petrosea, Toba Bara, and ABM Investama
PT Petrosea (PTRO) Tbk, mining contracting subsidiary of Indika Energy (INDY), has just lost a significant contract. It has on May 29, 2015 received notification from PT Adimitra Baratama Nusantara, subsidiary of Toba Bara Sejahtera (TOBA), to early terminate the overburden removal contract.