Antam (ANTM) Sells Shares of Subsidiaries For EV Ecosystems
Antam (ANTM) Sells Shares of Subsidiaries For EV Ecosystems
09 May 2023, 12:00 PM 5398

PT Aneka Tambang Tbk (ANTM) or Antam together with its subsidiaries PT International Mineral Capital (PT IMC) and Hong Kong CBL Limited (HKCBL) signed a conditional sale and purchase of shares agreement (CSPA) on 4 May 2023. HKCBL is a subsidiary of Ningbo Contemporary Brunp Lygend Co Ltd (CBL). Antam's Corporate Secretary, Syarif Faisal Akadrie explained, the signing of the conditional share sale and purchase agreement was in order to transfer part of the share ownership in PT Feni Haltim (PT FHT) to HKCBL, for the development and operation of the industrial area as the location for the development of the electric vehicle (EV) battery ecosystem or integrated electric vehicle battery.As well as in the context of expansion and/or development of ports and other infrastructure including the construction of nickel processing facilities based on rotary kiln electric furnace technology as many as 4 production lines to realize the development of the EV battey ecosystem in East Halmahera, North Maluku. "The signing of this CSPA is a milestone for the company in its ongoing efforts to develop the EV battery. CBL as a group, as a potential strategic partner for Antam, has a portfolio to develop and manage nickel industrial estates," said Syarif Faisal in an official statement quoted on Tuesday (9/5/2023).In addition, he continued, CBL can provide certainty about fulfilling tenants in the PT FHT industrial area so that it will be able to provide a promising investment climate for Indonesia. "It is hoped that this CSPA will be able to increase the effectiveness of the EV battery development that is being carried out in Indonesia so that it can create added value in Antam's nickel ore management, both limonite and saprolite," he said.Source: https://investor.id/market/328919/demi-ekosistem-baterai-ev-antam-antm-jual-saham-anak-usaha

Tin (TINS) Boosts Land and Sea Mining to Maintain This Year's Performance
Tin (TINS) Boosts Land and Sea Mining to Maintain This Year's Performance
08 May 2023, 12:00 PM 4924

PT Timah Tbk (TINS) remains focused on maintaining performance this year. Previously, TINS' performance in the first quarter of 2023 was recorded to have decreased as a result of sub-optimal operational performance and fluctuations in commodity selling prices. Timah Corporate Secretary Abdullah Umar revealed that his party would not change the target for this year."The company remains focused on carrying out the plans set out in the 2023 RKAP, including optimizing land and sea mining," Abdullah told Kontan, Monday (8/5). Abdullah added, his party would also increase conservation of the remaining processing results by securing assets and opening new mines. Kontan noted, TINS is targeting to increase tin ore production to 35% this year. As an illustration, tin ore production throughout 2022 will reach around 20,000 tons.In addition, for this year TINS projects an average selling price (ASP) in the range of US$ 25,000 to US$ 30,000 per metric ton. TINS Director of Finance and Risk Management Fina Eliani revealed that fluctuations in commodity prices occurred throughout the first quarter of 2023. In fact, commodity prices tend to show a decline."The global economic recovery at the end of the first quarter of 2023 still faces a number of challenges. From the demand side, tin metal is expected to recover and continue in the second quarter of 2023 in line with strengthening fundamentals," said Fina in a press release, Tuesday (2/5). Fina continued, in the first quarter of 2023, TINS recorded tin ore production of 4,139 tons. This number decreased by 8% year on year (YoY) where in the first quarter of 2022, production reached 4,508 tons.Meanwhile, TINS metal production fell 18% YoY from 4,820 tons to 3,970 tons in the first quarter of 2023. As production declined, sales of refined tin also decreased by 26% YoY from 5,703 tons in the first quarter of 2022 to 4,246 tons in the first quarter of 2023. Meanwhile, TINS tin exports in the first quarter of 2023 reached 93% of total sales with 6 export destination countries namely South Korea with 17%, Netherlands 14%, Japan 13%, Taiwan 9%, United States 8% and Italy 7%.In addition to the decline in selling prices, the decline in cost of revenues also had an impact on the company's financial performance in the first quarter of 2023. "The decline in the average selling price of refined tin by 39% from US$ 43,667 per metric ton in the first quarter of 2022 to US$ 26,573 per metric ton in the first quarter of 2023," explained Fina.Source: https://industri.kontan.co.id/news/timah-tins-genjot-penambangan-darat-dan-laut-untuk-jaga-kinerja-tahun-ini

Government Revokes New RKEF Nickel Smelter Tax Holiday
Government Revokes New RKEF Nickel Smelter Tax Holiday
08 May 2023, 12:00 PM 5635

The government emphasized that it would revoke the tax holiday facility for new investment in the construction of a rotary kiln-electric furnace (RKEF) pyrometallurgical plant. It is planned that the revocation policy will be carried out in the near future in line with the government's commitment to stop the already intensive rate of investment in the high grade nickel ore or saprolite processing plant. "Right now there are lots of smelters in Indonesia of all kinds, so in my opinion it can no longer be categorized as a pioneer industry so there is no need to give a tax holiday, but this only applies to new ones," said the Deputy for Investment and Mining at the Coordinating Ministry for Maritime Affairs and Fisheries, Septian Hario Seto to Business, Sunday (7/5/2023).Processing with RKEF technology generally produces second class nickel processed products in the form of nickel pig iron (NPI) and ferronickel (FeNi) which are then made into stainless steel. Nevertheless, Seto stressed, this policy only applies to new investments in the next high grade nickel ore processing smelter. Thus, investments that have previously received tax holiday facilities can still enjoy the tax write-off until the later utilization deadline. "It's impossible for the government to revoke the [tax holiday], that's a parable from the point of view of investment certainty, it's important, yes, they can get it until the tax holiday period expires," he said.Source: https://ekonomi.bisnis.com/read/20230508/44/1653549/pemerintah-cabut-tax-holiday-smelter-nikel-rkef-baru

Merdeka Battery (MBMA) Acquires 60% of This Company's Shares
Merdeka Battery (MBMA) Acquires 60% of This Company's Shares
08 May 2023, 12:00 PM 6271

PT Merdeka Battery Materials Tbk (MBMA) announced that it has entered into a conditional agreement to acquire a 60% interest in PT Huaneng Metal Industry (HNMI), a high grade nickel matte conversion facility located within the Indonesia Morowali Industrial Park (IMIP). HNMI was built and commissioned by Eternal Tsingshan Group Limited (Tsingshan) and has been in stable production since 2022. HNMI processes low grade matte nickel (LGNM) produced by the RKEF smelter, reducing the iron content, to produce HGNM containing more than 70% nickel."Total consideration for the proposed acquisition is approximately US$ 75 million for MBMA to hold a 60% stake in HNMI, with the Tsingshan subsidiary holding the remaining 40%," explained MBMA's management in an official statement, Monday (8/5/2023). According to them, the acquisition will enable MBMA to transition RKEF's larger asset base to class 1 nickel production and unlock value. The Proposed Acquisition is targeted for completion in mid-2023, subject to completing the usual terms for such a transaction.As is known, Merdeka Battery just listed its shares on the Indonesia Stock Exchange (IDX) on April 18, 2023. Previously, MBMA had completed its initial public offering (IPO) with an exercise price of IDR 795 per share. The total shares released through the IPO were 11,549,999,900 new shares. MBMA raised funds of around IDR 9.2 trillion.Source: https://investor.id/market/328838/merdeka-battery-mbma-akuisisi-60-saham-perusahaan-ini

Adaro Energy (ADRO) Has Absorbed Capex USD 132 Million Q1 of 2023
Adaro Energy (ADRO) Has Absorbed Capex USD 132 Million Q1 of 2023
07 May 2023, 12:00 PM 5231

The absorption of PT Adaro Energy Indonesia Tbk's (ADRO) capital expenditure (capex) in the first quarter of 2023 reached US$ 132 million. This capex absorption rose 87% from capital expenditure in the first quarter of 2022 of US$ 70 million. Febriati Nadira, Adaro Energy's Head of Corporate Communication, detailed that capex spending in this period was mainly used for the construction of an aluminum smelter of US$ 15 million, ordering ships of US$ 31 million, and purchasing and overhauling heavy equipment of US$ US$ 48 million. ADRO has allocated capital expenditure (capex) of US$ 400 million to US$ 600 million for this year.Meanwhile, ADRO's subsidiary, namely PT Adaro Minerals Indonesia Tbk (ADMR) spent US$ 21.6 million for capital expenditure in the first quarter of 2023, a significant increase compared to capex absorption in the first quarter of 2022 which was only US$ 0.28 million. The capex absorption was mainly related to the infrastructure project at PT Maruwai Coal and the construction of an aluminum smelter under PT Kalimantan Aluminum Industry (KAI), a subsidiary of ADMR.ADRO's production and sales volume in the first quarter of 2023 rose 29% to 15.69 million tons and 15.72 million tons respectively. In comparison, production and sales volumes in the first quarter of 2022 were only 12.15 million tonnes and 12.20 million tonnes respectively. Thermal coal products with medium calorific value account for 70% of total sales in the period from January to March 2023. Sales of ADMR metallurgical coal also recorded a significant increase of 44% to 0.85 million tons from the previous 0.59 million tons in the first quarter of 2022.This coal mining issuer posted a net profit of US$ 458.04 million during the first quarter of 2023, up 14.5% year-on-year (YoY). As a comparison, ADRO's net profit in the same period last year was US$ 400.07 million. This made ADRO's net profit per share increase to US$ 0.01478 from the previous US$ 0.01282. The increase in ADRO's net profit was in line with the increase in revenue. The issuer chaired by Garibaldi Thohir posted net income of US$ 1.83 billion, up 50% from revenue in the same period in 2022 of US$ 1.22 billion.Source: https://industri.kontan.co.id/news/adaro-energy-adro-sudah-menyerap-capex-us-132-juta-di-kuartal-i-2023

PTBA diversified business to world-class energy and chemical companies
PTBA diversified business to world-class energy and chemical companies
04 May 2023, 12:00 PM 5075

PT Bukit Asam Tbk (PTBA), a member of the mining BUMN holding MIND ID, is diversifying its business by entering into new, renewable energy (EBT) to become an integrated and sustainable world-class energy and chemical company. "One of them is by entering the new renewable energy (EBT) business along with technological developments, EBT will be more efficient. This is an opportunity that needs to be managed carefully by paying attention to PTBA's existing resources. This step is also in line with the government's target of achieving Net Zero Emissions in 2060 or sooner," said PTBA Main Director Arsal Ismail in his statement in Palembang, Thursday.He said that on April 17, 2023, PTBA agreed on a Memorandum of Understanding (MoU) with HDF Energy, which is a company engaged in the supply of renewable energy, one of which is hydrogen fuel. HDF Energy and PTBA are exploring cooperation in the development of large-scale hydrogen fuel infrastructure. in PTBA's operational areas as an effort to reduce carbon emissions. "This infrastructure can provide stable and sustainable green energy, which is needed for PTBA's own operations or for sale to the market," said Arsal.The concrete form of PTBA's support in efforts to reduce global carbon emissions is also marked by the synergy with PT Jasa Marga (Persero) Tbk in the development of a Solar Power Plant (PLTS) with a capacity of 400 Kilowatt-peak (kWp) on the Jasa Marga Group toll road. The construction of the Bali Mandara Toll Road PLTS, which was inaugurated on September 21, 2022, is going very well, resulting in positive benefits in the form of energy efficiency and operational costs, and of course helping to support Indonesia's G20 Presidency in November 2022, one of which focuses on the issue of energy transition.Previously, PTBA had built a PLTS at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The PLTS consists of 720 solar panel systems with photovoltaics with a maximum capacity of 241 kWp and is installed in the Airport Operation Control Center (AOCC) Building. This PLTS has been fully operational since October 1, 2020. After the success in developing PLTS on the Bali Mandara Toll Road and Soekarno Hatta Airport, on February 24 2023, PT Bukit Asam Tbk and PT Jasa Marga (Persero) Tbk signed an extension of the Memorandum of Understanding (MoU) for the Development of PLTS in other toll road areas which are under the management of the Jasa Marga Group.The extension of this MoU is a form of continuous SOE collaboration and synergy in supporting efforts to reduce global carbon emissions. In addition, PT Bukit Asam Tbk and PT Timah Tbk are exploring the potential for cooperation in the development of PLTS at Timah's operational locations as a form of synergy with MIND ID Holding Members. This collaboration was marked by the signing of the Renewable Energy Development Synergy MoU on January 26, 2023. PTBA through its subsidiary, PT Bukit Energi Investama (BEI) will build a PLTS to support PT Timah's operational activities. Electricity from the PLTS will be used for production operations (dredgers), lighting, and offices which are expected to contribute to reduced emissions and more efficient energy costs.PTBA is also exploring the potential for cooperation in the development of PLTS at the operational locations of the Semen Indonesia Group (SIG). This collaboration was marked by the signing of a Memorandum of Understanding (MoU) for the Development of New, Renewable Energy (EBT) for Solar Power Plants on October 18, 2022 which is planned to begin to meet PT Semen Padang's operational energy needs.In addition, PTBA has a number of ex-mining lands that can be utilized for PLTS development. Among them are post-mining lands in Ombilin in West Sumatra covering an area of 201 hectares (ha) and in Tanjung Enim covering an area of 224 hectares. The PLTS potential in each of these lands reaches 200 Megawatts (MW). There is also a Bantuas post-mining area of 30 ha in East Kalimantan with a potential of 30 MW. "These lands belong to the company, so there is no need for land acquisition. In this way, the investment costs for PLTS can be reduced so that the electricity produced can be competitive. The ex-mining lands are also productive. Not only beneficial for the environment, but also have economic value. ," he said.Not only PLTS, he said PTBA and China Huadian Corporation (CHD) through a Memorandum of Understanding (MoU) signed on October 18, 2022 explored the development of a Wind Power Plant (PLTB) with a capacity of around 1,300 MW in South China and other renewable energy developments in Indonesia. which is currently in the process of feasibility study. In addition to developing business in the EBT sector, PTBA is also running a PLTS development program to turn on agricultural irrigation pumpsSource: https://www.antaranews.com/berita/3520434/ptba-diverisifikasi-bisnis-perusahaan-energi-dan-kimia-kelas-dunia

Bumi Resources (BUMI) Profit increased 39.3% to USD 60.2 Million Q1 2023
Bumi Resources (BUMI) Profit increased 39.3% to USD 60.2 Million Q1 2023
03 May 2023, 12:00 PM 5214

PT Bumi Resources Tbk (BUMI) managed to record an increase in financial performance throughout the first quarter of 2023. This coal mining issuer posted profit for the period attributable to owners of the parent entity of US$ 60.2 million, up 39.3% from net profit in the same period the previous year of US$ 43.3 million. The increase in net profit was in line with the increase in revenue. Throughout the first quarter of 2023, BUMI recorded revenues of US$ 454.9 million, an increase of 30.0% from actual revenues in the first quarter of 2022 which was only US$ 349.9 million.However, it should be noted, this income is based on the income statement with PSAK66. Here, BUMI cannot consolidate Kaltim Prima Coal (KPC), but can only become the equity which is accounted for 51% owned by BUMI. BUMI also presents financial reports including KPC for the benefit of investors, so that it becomes a commensurate comparison with other coal companies. As a result, BUMI posted revenue of US$ 1.64 billion, up 19% from revenue in the same period the previous year of US$ 1.37 billion.From the operational side, Director and Corporate Secretary of Bumi Resources Dileep Srivastava said, during the first quarter of 2023, BUMI posted sales volume of 15.4 million tons of bricks, a decrease of 4% from sales in the same period last year of 16.0 million. In detail, KPC's sales were 10.7 million tons (up 3%) and Arutmin Indonesia's sales were 4.8 million tons (decreased by 15%). From the production side, the volume of coal mined in the first quarter of 2023 was 16.1 million tonnes, a 1.22% decrease from the previous 16.3 million tonnes in the first quarter last year. Fortunately, the actual price of coal in the first quarter of 2023 managed to rise 23% to US$ 103.7 per ton from the previous US$ 84.5 per ton in the previous year.Source: https://investasi.kontan.co.id/news/laba-bumi-resources-bumi-melesat-393-menjadi-us-602-juta-pada-kuartal-i-2023

ABM Investama (ABMM) Net Profit Increased 233%
ABM Investama (ABMM) Net Profit Increased 233%
03 May 2023, 12:00 PM 5343

PT ABM Investama Tbk (ABMM) recorded profit for the year attributable to owners of the parent entity of US$ 106.03 million in the first quarter of 2023, flying 233.55% from US$ 31.78 million in the same period last year. Basic earnings per share also jumped from US$ 0.01155 in the first quarter of 2022 to US$ 0.3851 as of the end of March this year.The financial report for the first quarter of 2023 revealed that the surge in net profit was supported by an increase in revenue from contracts with customers from US$ 286.7 million to US$ 387.86 million. Meanwhile, cost of revenue also rose to US$ 257.91 million from the previous US$ 185.62 million. Meanwhile, gross profit also increased from US$ 101.07 million to US$ 129.94 million. ABM Investama recorded selling, general and administrative expenses of US$ 26.98 million; other income US$ 4.11 million; domestic market obligation of US$ 7.84 million; and other expenses of US$ 2.70 million. Operating profit increased from US$ 81.24 million to US$ 96.53 million.Profit before income tax in the first quarter of 2023 was US$ 137.26 million. Meanwhile, profit for the current period was US$ 119.96 million, which shot up from US$ 52.7 million in the first quarter of 2022. The company recorded total assets of US$ 2.14 billion as of March 31 2023, up from US$ 1.98 billion at the end of December last year. Liabilities increased from US$ 1.36 billion to US$ 1.41 billion.Source: https://investor.id/market/328442/abm-investama-abmm-laba-bersihnya-terbang-233

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