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India Coal Play in Indonesia
Slowdown in China and increasing profile of Mongolia in coal supply for China have prompted Indonesian coal players to see India as main export destination in the coming years. In its pursuit of energy security, Indian companies have intensified their scouting of coal assets in Indonesia. Who are the key players and what will they do? ,Last Updated ( Sat, 04 Sep 2010)
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| COAL JOURNAL
Thermal coal spot prices advanced further by 3.2% to US$93.9 per ton for the week ended September 3rd in Newcastle Port, Australia, benchmark for Asian market. Coal stocks also scored big gains worldwide, while those listed on IDX saw substantial correction. In this report: (1) REA Kaltim, (2) Churchill Mining, (3) Indika Energy. (Sat, 04 Sep 2010)
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| Palm Oil Financing
Some planters are shopping for financing. Bakrie Sumatra Plantation (UNSP), for example, plans to issue US$200 million bonds early next year to refinance its existing facilities. BW Plantation has also launched a plan to raise Rp700 billion from bonds market. The appetite? (Sat, 04 Sep 2010)
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| More Articles |
| • PALM OIL JOURNAL | Palm Oil | The benchmark November contracts of CPO advanced further to RM2570 per ton on Friday, Sept 3rd, as crude oil regained grounds. Plantation stocks ended mostly higher that week. In this report: (1) SIPEF first half results, (2) Anglo Eastern first half results, (3) REA Kaltim first half results. | |
| • The Billion Dollar Club: New Order | Investment | Strong capital inflow on the back of volatility in developed markets lifted Indonesian stocks to a level vulnerable for correction. We are in a situation of very thin trading volume on Top 10 stocks vis-a-vis their market capitalization. Two cigarette giants, HM Sampoerna and Gudang Garam, for example, surged 104% and 123% respectively YTD to become US$10 billion company respectively. | |
| • Adaro & Affiliated Transactions | Company Profile | Adaro Energy (ADRO) was not even half of Bumi Resources (BUMI) two years ago. Now Adaro is almost twice the size of BUMI by market capitalization. Both emerged out of leveraged buy-outs (LBO). BUMI collapsed due to aggressive expansion of assets through dubious acquisitions of affiliated assets. Adaro, meanwhile, is on the verge of following BUMI's path. | |
| • Cornering DOID | Stock Market | Delta Dunia Makmur (DOID), parent company of mining contractor Bukit Makmur Mandiri Utama, declined 1.25% on Thursday to Rp790. That translates to 53.3% loss year-to-date. The stock collapsed almost 70% from the price paid by some investors to acquire DOID (and BUMA) last year. Why the stock keeps declining while its fundamentals improved? | |
| • OIL & GAS JOURNAL | Oil And Gas | Crude oil prices retreated to below US$74 per barrel on the New York Mercantile Exchange (Nymex) Thursday. Oil and gas stocks, meanwhile, moved in narrow range with downward trend. In this report: (1) Energi Mega - PT Bumi Siak Pusako gas supply deal, (2) Ecosse Energy's plan in Bengkulu, | |
| • PALM OIL JOURNAL | Palm Oil | The benchmark November contracts of CPO on Malaysia Derivatives Exchange inched up to RM2542 per ton on Thursday as crude oil eased off to below US$74 per barrel. Plantation stocks, meanwhile, closed mixed in the region. | |
| • Adaro & BUMI Debts | Stock Market | In the past five years, banks boosted substantially their lending to Indonesian coal producers. Bumi Resources (BUMI) and Adaro Energy (ADRO) are currently the biggest debtors in the sector. Combined, coal companies listed on IDX might have withdrawn almost US$9 billion loans. | |
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