Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Jumat, 29 Juli 2011

Bukit Makmur vs Pamapersada - Insider Stories

PT Delta Dunia Makmur Tbk (DOID), parent of PT Bukit Makmur Mandiri Utama (BUMA), Indonesia's second largest coal mining contractor, reported a 14.59% increase in overburden removal for the first 6 months of this year. However, its coal output was unchanged.

Delta Dunia posted 155.5 million bank cubic meter (bcm) of overburden removal in 1H 2011 from 135.7 million bcm in 1H 2010. Coal production was flat at 16.5 million tons in 1H 2011.

How about its competitor, PT Pamapersada Nusantara, a wholly owned subsidiary of PT United Tractors Tbk?
Pamapersada's coal output made a slight increase of 5.84% to 39.9 million tons from 37.7 million tons. Overburden removal rose 15.95% to 364.9 million bcm from 314.7 million bcm.

With flat coal output and nearly 15% growth in overburden, Delta Dunia is indicated to post a weak earning in the second quarter of this year (2Q2011), mainly due to margin compression driven by a jump in depreciation cost, spare part-maintenance cost, and accounting changes in salary and bonus payment from cash basis into accrual basis.

"In addition, there would be one-off refinancing cost of US$16 million-US$17 million," said a morning notes issued by PT Mandiri Sekuritas last week.
Overall, it potentially reduces Mandiri Sekuritas's FY11 forecast operating margin by 2%-3% or equivalent to Rp130 billion-Rp200 billion earning, compared to the brokerage's previous FY11F net profit forecast of Rp454 billion.

Tidak ada komentar:

Posting Komentar