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Coal Journal No. 38/2013
Speculative buying and bargain hunting of coal producers continued on Indonesia Stock Exchange (IDX) Monday (May 20). Bumi Resources, Adaro Energy, Indo Tambangraya. Indika Energy, and United Tractors gained, but Bukit Asam and Harum Energy retreated after huge gain last Friday. In this report: (1) Kangaroo Resources, (2) MNC Energy’s coal operation, (3) Solid Black Gold, etc. ,Last Updated ( Tue, 21 May 2013)
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| Coal Journal No. 37/2013
Bargain hunting lifted shares of coal producers listed on Indonesia Stock Exchange (IDX) Friday (May 17) as there is no sign of recovery in coal prices. Harum Energy (HRUM) led with 15.7% gain, followed by Bukit Asam (+8.7%). Adaro, Indika Energy, and Indo Tambangraya also gained substantially. (Fri, 17 May 2013)
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| Coal Journal No. 36/2013
Pressures on coal stocks continued in the region. In Jakarta, Adaro Energy and Indo Tambangraya Megah dropped substantially to their new lows this year. Garda Tujuh Buana (GTBO), meanwhile, returned to square one with 37% fall year-to-date. (Thu, 16 May 2013)
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| • Coal Journal No. 35/2013 | Coal | Shares of Geo Energy Ltd, SGX-listed company with coal operations in Indonesia, ended substantially lower by 4.5% to S$0.425 Monday (May 13). Still, at this price, Geo Energy is a company with market capitalization of S$491 million, almost four times its equity. Lot more expensive than established coal players in Indonesia, including Adaro Energy or Harum Energy. | |
| • Coal Journal No. 34/2013 | Coal | Newly listed coal producer Baramulti Suksessarana (BSSR) booked net profit of US$1.49 million in the first quarter of 2013, slashed by 71% from the corresponding period of 2012 mainly due to squeezed margins. Killara Resources, meanwhile, continued its investments in the coal sector with acquisition in Kalimantan coal asset. | |
| • Coal Journal No. 33/2013: Pricing Pressures | Coal | Two months ago, when the benchmark price of Indonesian thermal coal surged to US$90.09 per ton, some jumped into conclusion that the commodity would continue to recover. Turned out that the commodity declined last month and dropped further this month. | |
| • Coal Producers: Performance & Outlook | Coal | Major coal producers have released their financial results for the first quarter of 2013 except Indo Tambangraya Megah (ITMG), Berau Coal, and Borneo Lumbung Energi (BORN). All of them, as predicted, reported substantial drop in profitability. The sector is highly leveraged with total debts of over US$15 billion. | |
| • Coal Journal No. 32/2013 | Coal | Pretty much as predicted, coal producers suffered substantial drop of profitability in the first quarter of 2013. Resource Alam Indonesia (KKGI), for example, reported almost 50% drop in net profit for the reporting period even though sales revenues inched up on higher sales volume. | |
| • Coal Journal No. 31/2013 | Coal | United Tractors (UNTR) booked net profit of Rp1.12 trillion in the first quarter of 2013, dropped by 26.3% from the corresponding period of 2012. Falling sales of construction machinery contributed to the downturn, while own coal production unit turned to loss on lower sales volume. How about Bayan Resources' Kangaroo Resources Ltd? | |
| • Here Comes Q1 Results: Bukit Asam | Coal | PT Tambang Batubara Bukit Asam (PTBA) Tbk is the first coal producer to release first quarter 2013 results this morning. Pretty much as predicted, the company suffered 43% drop in net profit to Rp493 billion, mainly due to substantial drop in thermal coal prices. | |
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