PT Borneo Lumbung Energi & Metal (BORN) Tbk, controlled by Samin Tan, has yet to release its full year 2013 results even though Bakrie Separation transaction has long been completed in London. This morning, the stock gained slightly by 0.91% to Rp111. That means the stock has crashed almost 94% from its peak. The problem, price of hard coking coal dropped further by 16% for the second quarter of 2014.

SGX-listed KrisEnergy Ltd has issued a default of notice to Neon Energy (Indonesia) Pty Ltd related to financing of seismic acquisition of Tanjung Aru production sharing contract completed last month. KrisEnergy and Neo Energy are partners in the block, located offshore Kalimantan. In the meantime, Mudajaya Group (Malaysia) has entered into an MoU to acquire 75% interest in PT Harmoni Energy Indonesia.

Shares of coal producers end mixed Monday (May 5) with relatively thin trading volume as investors were seeking clearer direction of the coal market. Adaro Energy (ADRO) gained 2.2%, but Bumi Resources and Berau Coal slipped 1% and 2.52% respectively. Elsewhere in the region, China Shenhua lost 1.41% in Hong Kong, but BHP Billiton and Rio Tinto gained 0.6% and 1.1% in Sydney.

Chinese-Thai businessman Chanchai Ruayrungruang, according to Forbes magazine, had estimated wealth of US$1.9 billion. He leads the privately held Reignwood Group, which owns Reignwood Centre and the Pine Valley golf course in Beijing, China. Recently, he indirectly entered into a deal, which directly linked to Indonesian coal.

South Korea’s KEPCO might have to wait longer to gain something from its US$500 million investment in coal producer Bayan Resources (BYAN) or if it wants to find buyer willing to pay decent price for its shares in the company. Harum Energy (HRUM), meanwhile, reported almost 55% jump in net profit for the first quarter, but its sales revenue collapsed almost 43%.

Bakrie Group and Asia Resource Minerals Plc (previously Bumi Plc) have finally completed the separation transaction today. Bakrie Group regained 29.2% interest in Bumi Resources (BUMI) for US$501 million in cash and the acquisition by Samin Tan of Bakrie Group’s 23.8% interest in Asia Resource Minerals. Also in this report: Samindo Resources 2013 results, bankruptcy lawsuit against Mercator Lines’ coal project in Indonesia, and data from Newcastle Port.

The benchmark Newcastle Thermal Coal Index dropped further to US$72 per ton for the week ended March 21, 2014. That means the commodity lost almost 10% in the past two months due to huge supply and demand slowdown in the seaborne market. February operation data of two coal mining contractors, United Tractors (UNTR) and Delta Dunia (DOID), meanwhile, only added negative sentiments.

Shares of coal producers were still under significant pressures worldwide due to stream of news about slowdown of demand, especially in China. Those listed on Indonesia Stock Exchange (IDX), meanwhile, are bracing for new policies being drafted by the outgoing administration, including harmonization of coal royalty and low-calorie coal export.

Shares of coal producers missed the so-called Jokowi Effect last Friday (Mar 14). Most of them end in red zone, including Indo Tambangraya (ITMG) and Bukit Asam, which lost 2.41% and 1.33% respectively. Elsewhere, BHP Billiton and Rio Tinto dropped more than 2% each in Sydney, as China continues to report weakness in coal market. In this report: Lanna Resources, PTT Mining, and EGCO.

The government of Indonesia is entering final stage of the issuance of new policy on royalty for coal. Some coal producers plan to block the new regulation unless the government harmonize all other aspects of the industry. Who’s affected and benefited from the new policy?