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Positive move Wintermar Offshore Marine, Tbk (WINS IJ) plans to make a rights issue via the issuance of new convertible bonds and ordinary shares amounting to 340m shares, representing 9.56% of the company’s enlarged equity. The company plans to use the proceeds to expand the company’s fleet from 2012–2014. It is worth noting that in.

PTBA 1Q12 earnings were up by 15% q-o-q and 14% y-o-y, in line with both our estimates and consensus. For the quarter, sales volume registered a 7% q-o-q jump to 3.9m tonnes and coal production volume stood at 3.4m tonnes. Blended ASP was relatively flat on a q-o-q basis but was 4% higher on a.

Company background Petrosea (PTRO) is one of Indonesia’s leading coal mining contractors, with a 40-year track record. Ranked sixth in terms of overburden removal, PTRO lays claim to being the only local company providing complete pit-to-port mining solutions. The company is 69.8%-owned by Indonesia-listed energy company, Indika Energy (INDY). Its mining contract business accounted for.

Company background Petrosea (PTRO) is a long established company with over 40 years of vast experience and along the way has built strong recognition as one of the Indonesia’s leading coal mining contractor ranked at 6th place in terms of overburden removal. PTRO claims to be the only local company which provides a complete pit-to.

PTBA reported its FY11 profit of IDR3trn, a 54% y-o-y increase but fell short of our estimates and consensus. Lower than expected sales volume and significant jump in production cost were the key reason. We lowered our production forecast for 2012 and 2013 by 10% and 9% each respectively thus revising down our target price.

The company’s long-term growth plan is further reinforced by recent JORC resource announcements and new mine concession acquisitions. We are also adjusting our earnings forecasts for 2012-2013, having increased our production volume forecasts in line with the company’s targets. As such, we raise our TP for KKGI to IDR8,950 while maintaining our BUY call. JORC.

Company background Wintermar Offshore Marine (WINS) is owned by the Layanto family and has been providing upstream services for the oil & gas sector for more than 40 years. It was established under the name of Swakarya Mulia Shipping in 1995 and subsequently, changed its name to WINS. In that year, WINS won its first.

Poised to Benefit From Rapid Industry Growth Last week, we visited the Tuban Plant and here are the key takeaways: Remarks from Mr Dwi Sutjipto. Mr Sutjipto’s opening remarks summarize Semen Gresik’s (SMGR) medium-term strategy. He started off by highlighting that the progress of integration between the three companies within the group is now currently.

The large majority of ASII’s earnings are related to Indonesia’s domestic consumer sector, which is pretty much in line with the country’s macroeconomic picture. The company’s earnings growth is also driven by growing coal mining activities. Given its earnings structure, we believe ASII can benefit immensely from strong domestic economic growth, supported by rising income.

Growth momentum play After delivering another record number in terms of production volume in 2011, Resource Alam (KKGI) continues to offers the highest growth prospect in our universe of coal stocks. With 9M11 production already reaching 3.2m tonnes, it is on track to meet our 2011 full-year target of 4.3m tonnes (+91% y-o-y) and we.