Survival of the Fittest: Palm Oil (3)

Shares of plantation companies listed on Indonesia Stock Exchange (IDX) ended mostly higher grounds Wednesday (Aug 8) to respond positive movement in the crude palm oil (CPO) derivative market. Astra Agro Lestari (AALI) and London Sumatra Plantations (LSIP), two of the most established CPO producers, gained 5.1% and 8.8% respectively.

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Those Continue to Expand

Tunas Baru Lampung (TBLA), which is among best performers last year with net profit of Rp949 billion—-an increase of 54% from 2016, spent Rp1.72 trillion of its cash in investing activities last year, grew significantly from 2016, reflecting the company’s expectation of future growth in both palm oil and sugar.

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Corporate Actions to Watch

Tunas Baru Lampung (TBLA), producer of palm oil & derivatives and sugar, plans to issue bonds worth Rp1 trillion with tenor of 5 years. The book building is scheduled for Feb. 27 to March 12 and the offering is set for March 23-26, 2017. PT Mandiri Sekuritas and PT Maybank Kim Eng Securities act as underwriters.

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