Search result for: "mining sector"

Emerging new core business. Currently, the group’s earnings are predominantly contributed by its subsidiaries, Cipta Kridatama (~43% earnings contribution – contract mining) and Sumberdaya Sewatama (~16% – power solutions). However, in the long run, we expect ABMM’s subsidiary, Reswara (currently contributing only 9% to group earnings), to be the backbone of ABMM’s consolidated business. We.

Commercial vehicle sales on track Commercial vehicle sales jumped 22% y-o-y in the first five months of the year compared to the same period the last year. Over the longer term, commercial vehicle sales have been growing at a 9% CAGR since 2005. Assuming that the average age of commercial vehicles is five years, the.

Leveraging on the Trakindo Group. ABMM’s major shareholder the Trakindo Group (Hamami Family) – which is also the sole distributor of Caterpillar heavy equipments since 1971 – has an established reputation and strong brand recognition in Indonesia. ABMM’s strong relationship with Trakindo would allow the former to gain access to financial resources, timely market intelligence,.

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 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.

Reinstate coverage with Neutral, TP: IDR43,100, potential upside: -11.6% We reinstate coverage on ITMG with a neutral call as we believe the counter lacks specific catalysts other than taking a ride the generally robust coal sector. We believe the share price already reflects most of the positive factors. Moreover, the company’s relatively minimal volume growth.

Overweight on the sector We initiate coverage on the coal sector with a positive view reinforced by the strong earnings growth momentum, exciting demand-supply dynamics and Indonesia’s strategic position in the global seaborne coal market. The coal companies under our coverage are projected to deliver earnings growth of 67% – 46% in the 2011-2012 period,.

Wintermar Offshore Marine (WINS) is set to deliver an earnings CAGR of 32.8% from 2010-2012 powered by higher rates from its owned vessels, which will bolster its 2011 topline to IDR864bn (+34% y-o-y) before escalating to IDR1,052bn (+21.7% y-o-y) in 2012. The company’s owned vessels will contribute 71.9% of total revenue in 2011 against 56%.

Supported by adequate coal reserves and in-place coal processing and handling infrastructure, Resource Alam Indonesia (KKGI) is set to continuously ramping up its coal production volume in coming years. The company has an internal estimate coal reserves of 73m tonnes that translates to life-of-mine of 20 years. Production for 2011 is slated to reach 3.6m.