SGX-listed Geo Energy Resources Ltd, which operates coal mines in Indonesia, has entered into a term sheet with Resource Invest AG (ResInvest), wherein ResInvest will enter the company’s infrastructure business with a US$1.5 billion valuation.

Cita Mineral Investindo (CITA), the largest bauxite ore miner controlled by Harita Group, booked net profit of Rp288 billion in the first quarter of 2026, collapsed 72% from the corresponding period of 2025. Why?

Elevated energy prices following the Iran war led to the rise of marine fuel costs and inland transportation expenses for most companies, including palm oil producers. The war also contributed to sharp rise of fertilizer prices, particularly the compound fertilizer mostly used in oil palm plantation.

Iran war cost the State budget dearly from higher energy subsidies. While it inevitable for gasoline, diesel, and aviation fuel, given the circumstances (bigger gap between domestic production and consumption), the country should have long invested in gas pipeline infrastructure to avoid repeated crisis in cooking fuel (liquefied petroleum gas/LPG).

Shares of nickel producers ended mostly lower ground on Tuesday (May 5) even when the commodity gained 2.1% to US$19,635 in the London Metal Exchange (LME) as the government floated a plan to charge a windfall tax on nickel and coal. 

Merdeka Copper Gold (MDKA), co-owned by Saratoga and Provident, has launched a non-preemptive rights (NPR) issue for 2.447 billion shares with expected proceeds of US$434 million. This is one of the largest fund raising in Indonesian capital market so far this year amid growing capital outflow from emerging markets.

Brent crude oil soared 5% closer to US$114 per barrel this morning on escalation related to the Strait of Hormuz. That means oil already surged by 89% year-on-year. Indonesian government, by far, has only partially adjusted non-subsidized fuel prices, i.e. Pertamina’s Pertamax Turbo. 

Palm oil maintains its strong run this year with last quoted price of RM4,534 per ton in the Bursa Malaysia Derivatives Monday (Apr 27). That means the commodity gained 14.5% year-on-year. Combined with depreciation of rupiah against Malaysian Ringgit, Indonesian palm oil players should have reaped bigger benefits.