TPS Food & Golden Plantation IPO
TPS Food (AISA) is among the best performing stocks in the past 52 weeks with almost 57% gain. It has declined 14% from peak, but the stock is valued fairly higher than Tunas Baru Lampung (TBLA), which generated about similar size of net sales.
COAL JOURNAL: China Play
China Shenhua Energy Co Ltd has secured approval from the National Development and Reform Commission (NDRC) for its A$1.47 billion coal project in Australia. This could change future dynamics of coal export to China.
Palm Oil Journal: Output to Watch!
The benchmark December 2014 contracts of crude palm oil (CPO) retreated by RM20 to RM2177 per ton Friday (Sept 26). Broad market sentiment and growing CPO output dragged down the commodity.
BW Plantation: Oversold?
Shares of BW Plantation (BWPT) lost another 14.81% to Rp460 on Friday (Sept 26), lower than our prediction of post-rights issue’s theoretical price. Has the stock been oversold?
Questions Surrounding Downsizing of Coal Mining Area
Holders of coal contract of work (CCOW) and contract of work (COW) have recently agreed to downsize their mining area (concession). Why one gets 4.7% cut while others should relinquish up to 60%?
BW Plantation’s First Half Financials vs AALI & SSMS
BW Plantation (BWPT), whose stock collapsed 24.6% yesterday following the rights issue plan, has finally released its first half 2014 financials. The Company booked net profit of Rp141 billion, soared by 67.3% from the corresponding period of 2013.
When Felda Global’s CPO Production Jump 34%
Felda Global Ventures, the world’s largest CPO producer, reported production of 336,738 tons of crude palm oil (CPO) last month, jumped by 33.6% from the same month of 2013.
BW Plantation Right Issue: Questions about Timing & Pricing
BW Plantation (BWPT) plans to issue 27.02 billion new shares at Rp390-411 per share to raise a maximum of Rp11.1 trillion (US$950 million) to acquire plantation assets of Rajawali Corpora, which is also strategic investor at BW Plantation.
Coal Journal: United Tractors
United Tractors (UNTR) sold 242 units of construction machinery last month, dropped 19.6% from the previous month on continuous weakness of mining industry. Subsidiary Pamapersada, however, produced a record 10.3 million tons of coal in the month.
Coal Journal: South Korean Players
South Korea imports annually around 80 million tons of coal. Companies from the country have actually spent significant amount for acquisition of coal assets in Indonesia in recent years. Unfortunately that some of these investments failed due to legal issues.