Revisiting Sawit Sumbermas & Citra Borneo Indah
Downfall of crude palm oil (CPO) prices might have contributed to 18% correction of Sawit Sumbermas Sarana (SSMS) in the past 10 months or so. While financial statements pointed to SSMS as one of the most profitable palm producers listed on Indonesia Stock Exchange (IDX), market value of the company eroded by more than 40% in the past three years.
Coal Player: TRAM, Another TRAP?
Trada Alam Minera (TRAM), new name for Trada Maritime, is among the best performing stocks with 100% gain year-to-date. At the last quoted price, TRAM has market capitalization of Rp19.85 trillion or US$1.5 billion, more than twice of the established coal producer PT Harum Energy Tbk (HRUM)—-Rp8.9 trillion.
Trakindo on ABM Investama: No Mercy?
Unlike peers, ABM investama (ABMM), a company engaged in coal mining, contracting, rental of diesel generators, and other services, posted significantly lower net profit in the first nine months of 2017. In the period, net profit dropped 36% to US$9.54 million, even though sales revenues increased by 17.8% to US$500.9 million. Why?
BRMS: A More Aggressive Bakrie Group
PT Bumi Resources Minerals (BRMS) Tbk has acquired 20% shares of PT Dairi Prima Minerals (DPM) from state miner Aneka Tambang (ANTM) for US$57.3 million. That means BRMS will control 100% shares in DPM, which has lead and zinc mining concession in Dairi, North Sumatra province.
2017, A Prosperous Year for Sinarmas
Golden Agri-Resources Ltd, plantation arm of Sinarmas Group, booked net profit of US$254 million last year, jumped by 36% from 2016 despite pressures in the fourth quarter following correction of palm oil prices. The SGX-listed company produced 2.72 million tons of palm oil products in the year, an increase of 9% from 2016.
Coca-Cola Amatil in Indonesia: Results & Outlook
Coca-Cola Amatil has just released its full year 2017 results to Australia Stock Exchange (ASX) this morning. The Company reported underlying earning before income tax of $678.7 million last year, down slightly by 0.7% from 2017. Indonesia and Papua New Guinea operations, however, jumped 30.6%.
IPO to Watch: Tugu Pratama
Six years ago, then minister of state-owned enterprises Dahlan Iskan urged state oil and gas company Pertamina to sell its ownership in insurance firm PT Tugu Pratama Indonesia to existing partners or third party investors. Minister of SOEs Rini Soemarno under Jokowi-Kalla administration, however, decided to maintain Pertamina’s majority ownership, and opted an initial public offering (IPO) instead.
Aga Bakrie & Ling Ling
Hotel Mulia, Jakarta was packed by over 6,000 people attending the wedding party of Aga Bakrie and Ling Ling Sunday (Feb 11) evening. Businessmen, cabinet members, and politicians were seen in the Grand Ballroom, highlighting broad network and connections of the parents of the bride and groom.
Alibaba Enters Cinema Chain, Next?
Alibaba Group Holding Ltd and a company partly backed by the government of China have acquired shares of Wanda Film, which operates around 4,000 screens on the mainland, for US$1.2 billion. What’s next for global digital giant?
Semen Baturaja: Years to Justify Current Valuation
Semen Baturaja (SMBR) is the smallest cement producer listed on Indonesia Stock Exchange (IDX) with sales revenue of Rp1.55 trillion only last year. Yet, it is now valued Rp31.36 trillion or US$2.35 billion, more than half of market leader Semen Indonesia (SMGR), whose annual sales revenue could be 18 times of SMBR.