Increment in KIDEKO’s Shares Ownership
In December 2017, INDY settled the shares acquisition of one of the biggest coal miners in Indonesia, namely KIDEKO. As such, it names INDY as KIDEKO’s major shareholder with the total shares ownership of 91%. We arrive into a logical takeaway that the increment in KIDEKO’s shares ownership likely amplify 2018’s sales rein in fine fettle.

DOID Acquisition by PTRO
PTRO will likely acquire 37% shares of DOID. As such it paves a way for an upbeat sales contribution to the total sales of INDY, the parent entity of PTRO. In 3Q17, PTRO contributed 26.0% to INDY’s total revenue. Based on the backdrop, we forecast that DOID’s shares acquisition likely snap higher PTRO’s contribution to the sales by 30%-33%.


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