TINS – Efficiency Strategies to Improve Performance
TINS posted a net loss in 1Q20 due to high inventory cost and lower ASP but we are still optimistic for the 2020F
PTBA – Modest Performance
Modest performance in 1Q20 because revenue and net profit slipped by 4% YoY and 20.6% YoY. Assumptions for
INCO – Step Forward in The First Quarter
In 1Q20, INCO posted a net profit after recorded a net loss in the same period of last year. The operational side has
UNTR – Construction Machinery Continues to Weaken
1Q20 result is below our expectation with a decrease in net profit by 40% YoY, which is the result of a 19% YoY decrease
Indonesia Plantations CPO Will Fluctuate Until the Third Quarter
The spread of COVID-19 will reduce supply and demand for CPO, the slow replanting program, and the potential of weather
INCO – Growth Remains Potential
INCO succeeded to book FY19 revenue of USD782 million, increasing by 0.7% YoY equal to 104.4% (+4.4%) from our estimate
UNTR – The Optimism of Gold Mine
Lower Revenue FY19 revenue of IDR84.4 trillion (-0.2% YoY) equal to 97.5% of our 2019's estimate of IDR86.3 trillion.
Indonesia Coal Is Attractive Albeit Gloomy Outlook
Projection of Coal Prices We project ICE Newcastle coal (CV: 6,000 kcal/kg) for 2020F-2021F to fall short in the range
Company Report | Medco Energi Internasional Tbk (MEDC IJ) Boosts Performance amid Sluggish Market
Stellar Performance MEDC succeeded to gain revenues of USD1.02 billion (+10.3% YoY), backed by the oil & gas
