AKRA delivered weak 9M24 result as expected, due to the weak trading business as

Power Utilities Jupriadi Tan Gerald Hugo

Largely in line with our view (see Indonesia Nickel: Nickel ore drives downstream prices, 16 August 2024),

Metals Mining Michael Wildon Edward Prima

ANTM’s subsidiary, PT Gag Nikel (PTGN, unlisted), has announced a 30% stake acquisition of a Tsingshan-owned R

Metals Mining ANTM JK ANTM IJ Michael Wildon Edward Prima

HRUM has announced a strategic partnership with Eternal Tsingshan (ET, unlisted) to release up to 49% of its n

Coal HRUM JK HRUM IJ Michael Wildon Edward Prima

MDKA recorded 2Q24 earnings of USD3mn, below our/consensus estimates.

Basic Materials MDKA JK MDKA IJ Michael Wildon Ng Edward Prima

Brent Crude futures are back to USD81/bbl, recovering from a 13% decline in July.

Oil Gas Michael Wildon

All local nickel producers under our coverage posted significant margin recoveries following the rise in

Mining Nickel Michael Wildon Edward Prima

ANTM recorded a strong earnings recovery in 2Q24, with profits surging 450% q-q and 479% y-y.

Mining ANTM Michael Wildon Edward Prima

In our recent report, we mentioned that one of the main catalysts for MEDC is AMMN IJ (Not rated)s operational

MEDC JK MEDC IJ OIL GAS Michael Wildon

Overall results were above our projections, with 2Q24 profit of IDR1.8tn (+80% q-q), bringing 1H24 profit to

NCKL JK NCKL IJ Mining Michael Wildon