TABLE OF CONTENTS. Kontan. Freeport's Performance Is Not Affected by Corona Virus Kinerja Freeport Tidak Terdampak Virus Corona.

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IMA-Daily Update No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Market Still Sluggish, Coal Companies Set Conservative Production Targets

Pasar Masih Lesu, Perusahaan Batubara Memasang Target Produksi yang Konservatif

Freeport's Performance Is Not Affected by Corona Virus Kinerja Freeport Tidak Terdampak Virus Corona

Bumi Resources (BUMI) aiming for a 5% increase in coal production this year

Bumi Resources (BUMI) bidik kenaikan produksi batubara sebesar 5% tahun ini

Coal and Nickel, Indonesia's Mining Commodities Most Corona Plague Affected

Batu Bara dan Nikel, Komoditas Tambang Indonesia Paling Terdampak Wabah Corona

PTBA President Director: The Company Will Buyback Shares Dirut PTBA: Perusahaan Bakal Buyback Saham

Adaro Energy (ADRO) is targeting production of up to 58 million tons of coal in 2020

Adaro Energy (ADRO) targetkan produksi hingga 58 juta ton batubara di 2020

The Price of Coal Won't Move from the Lowest Level, Why? Harga Batu Bara Ogah Beranjak dari Level Terendah, Kenapa?

Corona virus undisturbed coal production, Toba Bar diversified buyers

Produksi batubara tak terganggu virus corona, Toba Bara (TOBA) diversifikasi pembeli

Looking at the corona virus effects on the operational performance of Indika Energy (INDY)

Melihat efek virus corona terhadap kinerja operasio Indika Energy (INDY)

Adaro Energy (ADRO) Assesses Stock Buyback Options Adaro Energy (ADRO) Kaji Opsi Buyback Saham

PT Indika Energy Tbk, for example, maintains the coal production target in accordance with the provisions in the 2020 Work Plan and Budget (RKAB) which has been previously proposed, which is 30.95 million tons. In fact, last year's production realization was around 34 million tons. Indika Energy began to anticipate the negative effects of the corona virus. The low manufacturing industry in Ch caused the country's coal demand to shrink. The further effect is an economic slowdown on a global scale.

As for China, it is Indika's biggest export destination. "Therefore, we anticipate by finding alternative markets, including the domestic market," Leonardus Herwindo, Head of Corporate Communications of PT Indika Energy Tbk told KONTAN, Tuesday (10/3).

Tweedledum and tweedledee

Energy Tbk also looked at the scrolling effect of the corona virus. But not only corona, in general the condition

market this year is likely to remain challenging. Luckily, they have customers in various countries with a balanced market composition.

Market Still Sluggish, Coal

Companies Set Conservative

Production Targets

of coal companies cut their production volume targets this year compared to last year. The reason is that egative catalyst surrounding the industry is not decreasing, but increasing. Call it the corona virus scroll effect.

PT Indika Energy Tbk, for example, maintains the coal production target in accordance with the provisions in the 2020 (RKAB) which has been previously proposed, which is 30.95 million tons. In fact, last year's production realization was around 34 million tons. Indika Energy began to anticipate the negative effects of the corona virus. The low manufacturing industry in China caused the country's coal demand to shrink. The further effect is an economic

As for China, it is Indika's biggest export destination. "Therefore, we anticipate by finding alternative markets, including the Leonardus Herwindo, Head of Corporate Communications of PT Indika Energy Tbk told KONTAN, Tuesday

weedledum and tweedledee, PT Adaro Energy Tbk also looked at the scrolling effect of the corona virus. But not only corona, in general the condition of the coal market this year is likely to remain challenging. Luckily, they have customers countries with a balanced

Pasar Masih Lesu, Perusahaan

Batubara Memasang Target

Produksi yang Konservatif

M

AYORITAS perusahaan batubara me

mangkas target volume produksi di tahun ini dibandingkan dengan tahun lalu. Penyebabnya, katalis negatif yang menge pung industri itu bukannya turun, melain kan bertambah. Sebut saja efek gulir virus korona.

PT Indika Energy Tbk, m

tahankan target produksi batubara sesuai dengan ketentuan dalam Rancangan Kerja dan Anggaran Biaya (RKAB) 2020 yang sebelumnya sudah diajukan yakni 30,95 juta ton. Padahal, realisasi produksi tahun lalu sekitar 34 juta ton.

Indika Energy mulai mengantisipasi efek negatif dari virus korona. Sepi industri manufaktur di China menyebabkan per mintaan batubara negara itu menyusut. Efek lebih jauhnya yakni terjadi perlam batan ekonomi dalam skala global.

Adapun China menjadi negara tujuan ekspor terbesar Indika. "Oleh sebab itu, kami antisipasi dengan mencari alternatif pasar, termasuk pasar domestik," kata Leonardus Herwindo,

Communications PT Indika Energy Tbk kepada KONTAN, Selasa (10/3).

Setali tiga uang, PT Adaro Energy Tb

mencermati efek gulir dari virus korona. Namun tak cuma korona, secara umum kondisi pasar batubara tahun ini kemungkinan besar tetap menantang. Beruntung, mereka memiliki pelanggan di berbagai negara dengan komposisi pasar yang berimbang.

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Pasar Masih Lesu, Perusahaan

Batubara Memasang Target

Produksi yang Konservatif

perusahaan batubara me-mangkas target volume produksi di tahun ini dibandingkan dengan tahun lalu. Penyebabnya, katalis negatif yang menge-pung industri itu bukannya turun, melain-kan bertambah. Sebut saja efek gulir virus

PT Indika Energy Tbk, misalnya, memper-tahankan target produksi batubara sesuai dengan ketentuan dalam Rancangan Kerja dan Anggaran Biaya (RKAB) 2020 yang sebelumnya sudah diajukan yakni 30,95 juta ton. Padahal, realisasi produksi tahun lalu sekitar 34 juta ton.

ulai mengantisipasi efek negatif dari virus korona. Sepi industri manufaktur di China menyebabkan per-mintaan batubara negara itu menyusut. Efek lebih jauhnya yakni terjadi perlam-batan ekonomi dalam skala global.

Adapun China menjadi negara tujuan terbesar Indika. "Oleh sebab itu, kami antisipasi dengan mencari alternatif pasar, termasuk pasar domestik," kata Leonardus Herwindo, Head of Corporate PT Indika Energy Tbk kepada KONTAN, Selasa (10/3).

Setali tiga uang, PT Adaro Energy Tbk juga mencermati efek gulir dari virus korona. Namun tak cuma korona, secara umum kondisi pasar batubara tahun ini kemungkinan besar tetap menantang. Beruntung, mereka memiliki pelanggan di berbagai negara dengan komposisi pasar

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IMA-Daily Update

But the risks of the temporary coal market. Febriati Nadira, Head of Corporate Communications of Adaro Energy, said that the coal market fundamentals in the long term are still attractive, often with the vigorous development in Southeast Asia and South Asia. The development will whip up coal needs for electricity.

According to KONTAN notes, Indika and Adaro are two of the four coal companies that set smaller production targets this year. Two other companies, namely PT Golden Energy Mines Tbk and PT Indo Tambangraya Megah Tbk.

Only PT Bukit Asam Tbk and PT Bumi Resources Tbk are still confident about hoisting production targets. While PT Toba Bara Sejahtera Tbk is pursuing the production of stagnant alias as in 2019. Even though it is still targeting an increase in coal production, Bumi Resources is still wary of the corona effect.

continue to assess the impact of the corona virus on the market in the next quarter so we can consider anticipatory measures if needed," said Dileep Srivastava, Director and Corporate Secretary of Bumi Resources.

Not only corona, high rainfall is also a concern for Bumi Resources. Because these conditions can affect the operational production of the mining area. So far, their production level is around 7

tons of coal per month.

The export sales portion of 35%

also an alarm for Bukit Asam to be careful in doing business this year. Because, one of the destinations of their foreign markets to China. In the past three months, there has been a shipment of coal to China.

isks of the temporary coal market. Febriati Nadira, Head of Corporate Communications of Adaro Energy, said that the coal market fundamentals in the long term are still attractive, often with the vigorous development in Southeast Asia velopment will whip

According to KONTAN notes, Indika and Adaro are two of the four coal companies that set smaller production targets this year. Two other companies, namely PT Golden Energy Mines Tbk and PT Indo

Only PT Bukit Asam Tbk and PT Bumi Resources Tbk are still confident about hoisting production targets. While PT Toba Bara Sejahtera Tbk is pursuing the production of stagnant alias as in 2019. Even though it is still targeting an increase

al production, Bumi Resources is still wary of the corona effect. "We will continue to assess the impact of the corona virus on the market in the next quarter so we can consider anticipatory measures if needed," said Dileep Srivastava, Director te Secretary of Bumi

Not only corona, high rainfall is also a concern for Bumi Resources. Because these can affect the operational production of the mining area. So far, their production level is around 7-7.5 million

The export sales portion of 35%-40% is also an alarm for Bukit Asam to be careful in doing business this year. Because, one of the destinations of their foreign markets to China. In the past three months, there has been a shipment of coal to China.

Namun risiko pasar batubara temporer. Febriati Nadira, Head of Corporate Communications Adaro

kan, fundamental pasar batubara dalam periode jangka panjang masih menarik sering dengan gencarnya pembangunan di kawasan Asia Tenggara dan Asia S

Pembangunan itu akan melecut kebutuhan batubara untuk kelistrikan.

Menurut catatan KONTAN, Indika dan Adaro merupakan dua dari empat per usahaan batubara yang mematok target produksi lebih kecil tahun ini. Dua perusahaan lain yaitu PT Golden Energ Mines Tbk dan PT Indo Tambangraya Megah Tbk.

Hanya PT Bukit Asam Tbk dan PT Bumi Resources Tbk masih percaya diri menge rek target produksi. Sementara PT Toba Bara Sejahtera Tbk mengejar produksi stagnan alias sama seperti 2019.

Biarpun masih menargetk

produksi batubara, Bumi Resources tetap mewaspadai efek korona. "Kami akan tetap menilai dampak virus korona terhadap pasar di kuartal berikutnya sehingga kami bisa mempertimbangkan langkah anti sipasi jika diperlukan," tutur Dileep Srivastava, Direktur dan Sekretaris Perusahaan Bumi Resources.

Tak hanya korona, curah hujan tinggi juga menjadi perhatian Bumi Resources. Pasalnya kondisi tersebut bisa mem pengaruhi operasional produksi dia area penambangan. Sejauh ini, tingkat produksi mereka sekitar 7-7,5 juta ton batubara per bulan.

Porsi penjualan ekspor sebesar 35% juga menjadi alarm bagi Bukit Asam untuk berhati-hati menjalani bisnis tahun ini. Pasalnya, salah satu tujuan pasar manca negara mereka ke China. Dalam tiga bulan terakhir, terdapat satu pengapalan batu bara ke China.

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Namun risiko pasar batubara temporer. Febriati Nadira, Head of Corporate Communications Adaro Energy mengata-kan, fundamental pasar batubara dalam periode jangka panjang masih menarik sering dengan gencarnya pembangunan di kawasan Asia Tenggara dan Asia Selatan. Pembangunan itu akan melecut kebutuhan batubara untuk kelistrikan.

Menurut catatan KONTAN, Indika dan Adaro merupakan dua dari empat per-usahaan batubara yang mematok target produksi lebih kecil tahun ini. Dua perusahaan lain yaitu PT Golden Energy Mines Tbk dan PT Indo Tambangraya

Hanya PT Bukit Asam Tbk dan PT Bumi Resources Tbk masih percaya diri menge-rek target produksi. Sementara PT Toba Bara Sejahtera Tbk mengejar produksi stagnan alias sama seperti 2019.

Biarpun masih menargetkan kenaikan produksi batubara, Bumi Resources tetap mewaspadai efek korona. "Kami akan tetap menilai dampak virus korona terhadap pasar di kuartal berikutnya sehingga kami bisa mempertimbangkan langkah anti-sipasi jika diperlukan," tutur Dileep

Direktur dan Sekretaris Perusahaan Bumi Resources.

Tak hanya korona, curah hujan tinggi juga perhatian Bumi Resources. Pasalnya kondisi tersebut bisa mem-pengaruhi operasional produksi dia area penambangan. Sejauh ini, tingkat produksi 7,5 juta ton batubara per

Porsi penjualan ekspor sebesar 35%-40% juga menjadi alarm bagi Bukit Asam untuk hati menjalani bisnis tahun ini. salnya, salah satu tujuan pasar manca-negara mereka ke China. Dalam tiga bulan terakhir, terdapat satu pengapalan

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batu-IMA-Daily Update

Although the portion of sales to China does not dominate, Bukit Asam still feels the need to anticipate the market going

Surya Palapa Hadis, Corporate Secretary of Bukit Asam said that the transfer of other markets was a strategy adopted. Another effort is to spur sales in the local market. While Toba Bara admitted, there was not much coal exported to China. Their t

markets are Taiwan, Malaysia and domestic. "But as a marketing strategy to date, we still use the diversification of destination countries to avoid the risk of concentration in one particular country," said Pingkan Ratna Melati, Corporate Secretary of Toba Bara.

Previously, Yulius Gozali, Director of Investor Relations at Indo Tambangraya, said that this year's production target was taking into account the trend of coal prices that had not been stable in the market. One reason is the abundant supply.

While the increase in the benchmark coal price (HBA) in March 2020 to US$ 67.08 per ton, does not reflect the strengthening of global coal prices. The price of the coal contract for delivery in July 2020 on the Newcastle market was US$ 65.35 per metric ton on Tuesday (9/3) yesterday. More or less in the last year, the price fell 24.23%.

Reporter: Dimas Andi, Ridwan Nanda Mulyana; Editor: Thomas Hadiwinata

Freeport's Performance Is Not

Affected by Corona

Yanita Petriella

F

REEPORT-McMoRan Inc.'s mining pe

(NYSE: FCX) is believed to have no effect on the presence of the corana virus (Covid

has spread in a number of countries including the United States and Indonesia.

Although the portion of sales to China does not dominate, Bukit Asam still feels the need to anticipate the market going forward. Surya Palapa Hadis, Corporate Secretary of Bukit Asam said that the transfer of other markets was a strategy adopted. Another effort is to spur sales in the local market.

there was not much coal exported to China. Their top three markets are Taiwan, Malaysia and domestic. "But as a marketing strategy to date, we still use the diversification of destination countries to avoid the risk of concentration in one particular country," said Pingkan Ratna Melati,

y of Toba Bara.

Previously, Yulius Gozali, Director of Investor Relations at Indo Tambangraya, said that this year's production target was taking into account the trend of coal prices that had not been stable in the market. One

While the increase in the benchmark coal price (HBA) in March 2020 to US$ 67.08 per ton, does not reflect the strengthening of global coal prices. The price of the coal contract for delivery in July 2020 on the Newcastle market was US$ 65.35 per metric ton on Tuesday (9/3) yesterday. More or less in the last year, the price fell 24.23%.

Reporter: Dimas Andi, Ridwan Nanda Mulyana;

Meskipun porsi penjualan ke China tidak mendominasi, Bukit Asam tetap merasa perlu mengantisipasi pa

Surya Palapa, Sekretaris Perusahaan Bukit Asam mengatakan, pengalihan pasar lain menjadi strategi yang diterapkan. Upaya lain yakni memacu penjualan di pasar lokal. Sementara Toba Bara mengaku, tak banyak mengekspor batubara ke China.

pasar mereka yakni Taiwan, Malaysia dan domestik. "Tapi sebagai strategi pemasaran sampai saat ini, kami masih menggunakan pendekatan diversifikasi negara tujuan untuk menghindari risiko konsentrasi ke satu negara tertentu," kata Pingkan Ratna M Corporate Secretary Toba Bara.

Sebelumnya, Yulius Gozali, Direktur Hubungan Investor Indo Tambangraya mengatakan, target produksi tahun ini mempertimbangkan tren harga batubara yang belum stabil di pasar. Salah satu penyebabnya pasokan yang berlimp

Sementara kenaikan harga batubara acuan (HBA) Maret 2020 menjadi US$ 67,08 per ton, belum mencerminkan penguatan harga batubara global. Harga kontrak batubara untuk pengiriman Juli 2020 di pasar Newcastle sebesar US$ 65,35 per metrik ton pada Selasa (9/3) kemarin. Kurang lebih dalam setahun belakangan, harga itu turun 24,23%. Reporter: Dimas Andi, Ridwan Nanda Mulyana; Editor: Thomas Hadiwinata

Freeport's Performance Is Not

Affected by Corona Virus

McMoRan Inc.'s mining performance (NYSE: FCX) is believed to have no effect on the presence of the corana virus (Covid-19) which has spread in a number of countries including the

Kinerja Freeport Tidak

Terdampak Virus Corona

Yanita Petriella

K

INERJA tambang milik

Inc. (NYSE: FCX) diyakini tak akan ber pengaruh adanya virus corana (Covid

merebak di sejumlah negara termasuk Amerika Serikat dan Indonesia.

Page 5

Meskipun porsi penjualan ke China tidak mendominasi, Bukit Asam tetap merasa perlu mengantisipasi pasar ke depan. Hadis Surya Palapa, Sekretaris Perusahaan Bukit Asam mengatakan, pengalihan pasar lain menjadi strategi yang diterapkan. Upaya lain yakni memacu penjualan di pasar lokal. Sementara Toba Bara mengaku, tak banyak mengekspor batubara ke China. Tiga besar pasar mereka yakni Taiwan, Malaysia dan domestik. "Tapi sebagai strategi pemasaran sampai saat ini, kami masih menggunakan pendekatan diversifikasi negara tujuan untuk menghindari risiko konsentrasi ke satu negara tertentu," kata Pingkan Ratna Melati, Corporate Secretary Toba Bara.

Sebelumnya, Yulius Gozali, Direktur Hubungan Investor Indo Tambangraya mengatakan, target produksi tahun ini mempertimbangkan tren harga batubara yang belum stabil di pasar. Salah satu penyebabnya pasokan yang berlimpah. Sementara kenaikan harga batubara acuan (HBA) Maret 2020 menjadi US$ 67,08 per ton, belum mencerminkan penguatan harga batubara global. Harga kontrak batubara untuk pengiriman Juli 2020 di pasar Newcastle sebesar US$ 65,35 per metrik 9/3) kemarin. Kurang lebih dalam setahun belakangan, harga itu

Reporter: Dimas Andi, Ridwan Editor: Thomas Hadiwinata

Freeport Tidak

Terdampak Virus Corona

Yanita Petriella

tambang milik Freeport-McMoRan Inc. (NYSE: FCX) diyakini tak akan ber-pengaruh adanya virus corana (Covid-19) yang merebak di sejumlah negara termasuk Amerika Serikat dan Indonesia.

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IMA-Daily Update

Freeport-McMoRan Inc. President and Chief Executive Officer Richard C. Adkerson said the company continued its efforts to increase copper and gold volume growth by 30 percent to 40 percent.

In addition, the company will reduce copper unit production costs by 25 percent to around US$ 1.30 per pound.

"The company also more tha

cash flow in 2021 compared to 2019," he said in an official statement on Tuesday (10/3/2020).

Despite market volatility and the potential economic impact of the corona virus and turmoil in the global oil market, the company will continue to focus

menting plans to improve performance with low copper prices.

"We remain focused on our plans despite the Corona virus. This is to provide opportunities for superior performance when market conditions improve," he said. To maintain performance ami

outbreak of Covid-19, the company did three things: first, Freeport remained focused on increasing the volume of its underground body at the Papua mine, Indonesia.

As of March 5, production from Grasberg Block Cave and Deep MLZ orebodies averaged around 35,000 metric tons of ore per day, up 35 percent from the realization of the fourth quarter of 2019.

"This is in line with expectations," said Richard.

Then second, the Lone Star project in Arizona is now almost complete and is expected to be commissioned in 2020. Third, the company also carries out technological innovations and initiatives to improve productivity and ongoing unit cost performance and achieve long

results.

McMoRan Inc. President and Chief Executive Officer Richard C. Adkerson said the company continued its efforts to increase copper and gold volume growth by 30 percent to 40 percent.

the company will reduce copper unit production costs by 25 percent

"The company also more than doubled cash flow in 2021 compared to 2019," he said in an official statement on Tuesday

Despite market volatility and the potential economic impact of the corona virus and turmoil in the global oil market, the company will continue to focus on imple-menting plans to improve performance

"We remain focused on our plans despite the Corona virus. This is to provide opportunities for superior performance when market conditions improve," he said. To maintain performance amid the

19, the company did three things: first, Freeport remained focused on increasing the volume of its underground body at the Papua mine,

As of March 5, production from Grasberg Block Cave and Deep MLZ orebodies und 35,000 metric tons of ore per day, up 35 percent from the realization

"This is in line with expectations," said

Then second, the Lone Star project in Arizona is now almost complete and is

ned in 2020. Third, the company also carries out technological innovations and initiatives to improve productivity and ongoing unit cost performance and achieve long-lasting

President and Chief Executi ve O ffi cer Freeport-McMoRan Inc Richard C. Adk mengatakan perusahaan tetap berupaya untuk meningkatkan pertumbuhan volume tembaga dan emas sebesar 30 persen hingga

Selain itu, perusahaan akan

biaya produksi tembaga sebesar 25 persen menjadi sekitar US$1,30

"Perusahaan juga meningkatkan lebih dari dua kali lipat arus kas pada tahun 2021 dibandingk an dengan 2019," ujarnya dalam keterangan resmi, Selasa (10/3/2020).

Meskipun volatilitas pasar dan potensi dampak ekonomi dari virus corona dan gejolak di pasar minyak global, perusahaan akan tetap fokus pada pelaksanaan rencana untuk meningkatkan kinerja dengan harga tembaga yang rendah.

"Kami tetap fokus pada rencana kami meski ada virus corona. Ini agar dapat memberikan peluang untuk kinerja yang unggul saat kondisi pasar membaik," tuturnya.

Untuk tetap menjaga kinerja di tengah merebaknya Covid-19, perusahaan melaku kan tiga hal yakni pertama Freeport tetap fokus pada peningkatan volume dari badan bawah tanahnya di tambang

Indonesia.

Hingga 5 Maret, produksi dari Grasberg Block Cave dan Deep MLZ orebodies rerata sekitar 35.000 metrik ton bijih per hari, naik 35 persen dari realisasi

2019.

"Ini sesuai sesuai dengan harapan," kata Richard.

Lalu kedua, untuk proyek Lone Star di Arizona saar ini hampir selesai dan diharap kan akan ditugaskan pada tahun 2020.

Ketiga, perusahaan pun juga melakukan inovasi dan inisiatif teknologi untuk mening katkan produktivitas dan kinerja biaya unit sedang berlangsung dan mencapai hasil yang tahan lama.

Page 6

President and Chief Executi ve O ffi cer McMoRan Inc Richard C. Adkerson mengatakan perusahaan tetap berupaya untuk meningkatkan pertumbuhan volume tembaga dan emas sebesar 30 persen hingga 40 persen. Selain itu, perusahaan akan mengurangi unit

tembaga sebesar 25 persen menjadi sekitar US$1,30 per pounds.

"Perusahaan juga meningkatkan lebih dari dua kali lipat arus kas pada tahun 2021 an dengan 2019," ujarnya dalam keterangan resmi, Selasa (10/3/2020). Meskipun volatilitas pasar dan potensi dampak ekonomi dari virus corona dan minyak global, perusahaan tetap fokus pada pelaksanaan rencana untuk meningkatkan kinerja dengan harga

"Kami tetap fokus pada rencana kami meski ada virus corona. Ini agar dapat memberikan peluang untuk kinerja yang unggul saat kondisi pasar membaik," tuturnya.

Untuk tetap menjaga kinerja di tengah 19, perusahaan melaku-kan tiga hal yakni pertama Freeport tetap fokus pada peningkatan volume dari badan bawah tanahnya di tambang Papua,

produksi dari Grasberg Block Cave dan Deep MLZ orebodies rerata sekitar 35.000 metrik ton bijih per hari, 35 persen dari realisasi kuartal keempat

"Ini sesuai sesuai dengan harapan," kata

Lalu kedua, untuk proyek Lone Star di hampir selesai dan diharap-kan adiharap-kan ditugasdiharap-kan pada tahun 2020.

Ketiga, perusahaan pun juga melakukan inovasi dan inisiatif teknologi untuk mening-katkan produktivitas dan kinerja biaya unit sedang berlangsung dan mencapai hasil yang

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IMA-Daily Update

"Execution of these three things is important and is expected to significantly increase the Company's cash flow in 2021 and beyond," he said.

With copper prices ranging from US$ 2.75 per pound to US$ 3 per pound, Freeport will allocate free cash flow after

capital expenditure and distribution to uncontrolled interests, ranging from an average of more than US$ 2 billion to nearly US$ 3 billion per years in 2021 and 2022.

"Copper is an important element of the global economy and its fundamental long term prospects remain favorable," he said. Richard added that until now there has been no significant disruption to the supply chain or shipping of mining products since the outbreak of Covid

The company also continues to monitor the situation carefully and carefully in managing all costs, capital expenditures, and production plans during this uncertain period.

"The company has a strong liquidity position and there is no significant short term debt maturity," said Richard.

David Eka Issetiabudi

Bumi Resources (BUMI) aiming

for a 5% increase in coal

production this year

Reporter: Dimas Andi | Editor: Noverius Laoli

T

HE COAL mining giant PT Bumi Resources

Tbk (BUMI) is still optimistic about the condition of the coal market this year. The issuer then targeted coal production growth of 5% so far this year.

"Execution of these three things is important and is expected to significantly increase the Company's cash flow in 2021

With copper prices ranging from US$ 2.75 per pound to US$ 3 per pound, Freeport will allocate free cash flow after reducing capital expenditure and distribution to uncontrolled interests, ranging from an average of more than US$ 2 billion to nearly US$ 3 billion per years in 2021 and

"Copper is an important element of the global economy and its fundamental long-term prospects remain favorable," he said. Richard added that until now there has been no significant disruption to the supply chain or shipping of mining products since the outbreak of Covid-19. The company also continues to monitor the

y and carefully in managing all costs, capital expenditures, and production plans during this uncertain

"The company has a strong liquidity position and there is no significant short-term debt maturity," said Richard. Editor:

"Eksekusi pada tiga hal ini penting dan diharapkan dapat secara signifikan mening katkan arus kas Perusahaan pada tahun 2021 dan seterusnya," ucapnya.

Dengan harga tembaga mulai dari U 2,75 per pounds hingga US$3

Freeport akan mengalokasikan

bebas yakni setelah dikurangi pengeluaran modal dan distribusi hingga kepentingan yang tidak terkontrol, mulai dari rerata lebih dari U$2 miliar hingga hampir U$3

per tahun pada 2021 dan 2022

"Tembaga merupakan elemen penting dari ekonomi global dan prospek jangka panjang fundamentalnya tetap menguntungkan," katanya.

Richard menambahkan hingga saat ini tak ada gangguan signifikan pada rantai pasokan atau pengiriman produk tambang sejak merebaknya Covid-19.

Perusahaan pun terus memantau si dengan cermat dan berhati

mengelola semua biaya, pengeluaran modal, dan rencana produksi selama periode ketidakpastian ini.

"Perusahaan memiliki posisi likuiditas yang kuat dan tidak ada jatuh tempo hutang jangka pendek yang signifikan,"

Richard. Editor : David Eka Issetiabudi

Bumi Resources (BUMI) aiming

for a 5% increase in coal

production this year

Reporter: Dimas Andi | Editor: Noverius Laoli

mining giant PT Bumi Resources Tbk (BUMI) is still optimistic about the condition of the coal market this year. The issuer then targeted coal production growth

Bumi Resources (BUMI) bidik

kenaikan produksi batubara

sebesar 5% tahun

Reporter: Dimas Andi | Editor:

R

AKSASA tambang batubara PT Bumi

Resources Tbk (BUMI) masih optimistis dengan kondisi pasar batubara di tahun ini. Emiten ter sebut lantas mengincar pertumbuhan produksi batubara sebanyak 5% sepanjang tahun ini.

Page 7

"Eksekusi pada tiga hal ini penting dan diharapkan dapat secara signifikan mening-katkan arus kas Perusahaan pada tahun 2021 dan seterusnya," ucapnya.

Dengan harga tembaga mulai dari US$ hingga US$3 per pounds, Freeport akan mengalokasikan arus kas setelah dikurangi pengeluaran modal dan distribusi hingga kepentingan mulai dari rerata lebih miliar hingga hampir U$3 miliar per tahun pada 2021 dan 2022.

"Tembaga merupakan elemen penting dari global dan prospek jangka panjang fundamentalnya tetap menguntungkan,"

Richard menambahkan hingga saat ini tak ada gangguan signifikan pada rantai pasokan atau pengiriman produk tambang sejak

Perusahaan pun terus memantau situasi dengan cermat dan berhati-hati dalam mengelola semua biaya, pengeluaran modal, dan rencana produksi selama periode

"Perusahaan memiliki posisi likuiditas yang kuat dan tidak ada jatuh tempo hutang jangka pendek yang signifikan," tutur

Editor : David Eka Issetiabudi

Bumi Resources (BUMI) bidik

kenaikan produksi batubara

sebesar 5% tahun ini

| Editor: Noverius Laoli

tambang batubara PT Bumi ) masih optimistis dengan kondisi pasar batubara di tahun ini. Emiten ter-sebut lantas mengincar pertumbuhan produksi batubara sebanyak 5% sepanjang tahun ini.

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IMA-Daily Update

Last year BUMI produced 86.3 million tons of coal, growing 3.60% (yoy) compared to the previous year's figure of 83.3 million tons. If it refers to the realization of co production last year, there is a possibility that the coal produced by BUMI this year will reach 90.61 million tons.

BUMI Director and Corporate Secretary Dileep Srivastava said, on paper BUMI actually has the ability to produce coal up to 100 million tons per year. It is not surprising if this company continues to increase production volumes regardless of coal price movements that are still vulnerable to correction.

"Our current coal production level is around 7 million tons to 7.5 million tons per month," he added to Kontan, Tuesday (10/3).

Dileep admitted that he had made many investments in mining infrastructure in previous years. So that this year, BUMI will focus on maintaining mining equipment in a sustainable manner so that it can sustain coal production.

BUMI's management also said there has been no disruption to coal exports to date, although the corona virus has spread to various regions. "But we will continue to assess the impact of the corona virus on the market in the next quarter so that the company can consider anticipatory measures if needed," said Dileep.

He also added that the anticipation of the BUMI coal production and sales process was not only influenced by the effects of the Corona virus outbreak, but also the possibility of the impact of high rainfall that usually occurs in the first quarter. Last year BUMI produced 86.3 million tons of coal, growing 3.60% (yoy) compared to the previous year's figure of 83.3 million tons. If it refers to the realization of coal production last year, there is a possibility that the coal produced by BUMI this year

BUMI Director and Corporate Secretary Dileep Srivastava said, on paper BUMI actually has the ability to produce coal up ons per year. It is not surprising if this company continues to increase production volumes regardless of coal price movements that are still

"Our current coal production level is around 7 million tons to 7.5 million tons h," he added to Kontan, Tuesday

Dileep admitted that he had made many investments in mining infrastructure in previous years. So that this year, BUMI will focus on maintaining mining equipment in a sustainable manner so that it can sustain

BUMI's management also said there has been no disruption to coal exports to date, although the corona virus has spread to various regions. "But we will continue to assess the impact of the corona virus on the market in the next quarter so that the company can consider anticipatory measures if needed," said Dileep.

He also added that the anticipation of the BUMI coal production and sales process was not only influenced by the effects of the Corona virus outbreak, but also the ct of high rainfall that usually occurs in the first quarter.♦

Tahun lalu BUMI memproduksi 86,3 juta ton batubara atau tumbuh 3,60% (yoy) dibandingkan hasil di tahun sebelumnya sebesar 83,3 juta ton. Jika mengacu pada realisasi produksi batubara di tahun l ada kemungkinan batubara yang dihasil kan BUMI di tahun ini mencapai 90,61 juta ton.

Direktur dan Sekretaris Perusahaan BUMI Dileep Srivastava mengatakan, di atas kertas BUMI sebenarnya memiliki kemam puan produksi batubara hingga 100 juta ton per tahun. Tak heran jika perusahaan ini tetap meningkatkan volume produksi terlepas dari pergerakan harga batubara yang masih rentan terkoreksi.

“Tingkat produksi batubara kami saat ini adalah sekitar 7 juta ton sampai 7,5 juta ton per bulan,” imbuh dia kepada

Selasa (10/3).

Dileep mengaku, pihaknya sudah melaku kan banyak investasi di bidang infra struktur tambang di tahun

nya. Sehingga di tahun ini, BUMI akan fokus untuk pemeliharaan alat tambang secara berkelanjutan agar mampu me nopang produksi batubara.

Manajemen BUMI juga menyebut belum ada gangguan ekspor batubara hingga saat ini kendati virus corona telah menyebar ke berbagai kawasan. “Tetapi kami akan tetap menilai dampak virus corona terhadap pasar di kuartal berikutnya sehingga perusahaan bisa mempertimbangkan langkah antisipasi jika diperlukan,” ungkap Dileep.

Ia juga menambahkan, antisipasi terhadap proses produksi dan penjualan batubara BUMI tak hanya dipengaruhi oleh efek wabah virus Corona, melainkan juga kemungkinan dampak curah hujan tinggi yang biasanya terjadi di kuartal pertama.

Page 8

Tahun lalu BUMI memproduksi 86,3 juta ton batubara atau tumbuh 3,60% (yoy) dibandingkan hasil di tahun sebelumnya sebesar 83,3 juta ton. Jika mengacu pada realisasi produksi batubara di tahun lalu, ada kemungkinan batubara yang dihasil-kan BUMI di tahun ini mencapai 90,61 juta

Direktur dan Sekretaris Perusahaan BUMI Dileep Srivastava mengatakan, di atas kertas BUMI sebenarnya memiliki kemam-puan produksi batubara hingga 100 juta

hun. Tak heran jika perusahaan ini tetap meningkatkan volume produksi terlepas dari pergerakan harga batubara yang masih rentan terkoreksi.

“Tingkat produksi batubara kami saat ini adalah sekitar 7 juta ton sampai 7,5 juta ton per bulan,” imbuh dia kepada Kontan,

Dileep mengaku, pihaknya sudah melaku-kan banyak investasi di bidang infra-struktur tambang di tahun-tahun sebelum-nya. Sehingga di tahun ini, BUMI akan fokus untuk pemeliharaan alat tambang secara berkelanjutan agar mampu

me-g produksi batubara.

Manajemen BUMI juga menyebut belum ada gangguan ekspor batubara hingga saat ini kendati virus corona telah menyebar ke berbagai kawasan. “Tetapi kami akan tetap menilai dampak virus corona terhadap pasar di kuartal berikutnya sehingga bisa mempertimbangkan langkah antisipasi jika diperlukan,” ungkap

Ia juga menambahkan, antisipasi terhadap proses produksi dan penjualan batubara BUMI tak hanya dipengaruhi oleh efek wabah virus Corona, melainkan juga k curah hujan tinggi nya terjadi di kuartal pertama.♦

(9)

IMA-Daily Update

Coal and Nickel, Indonesia's

Mining Commodities Most

Corona Plague Affected

Rio Indrawan

T

HE GOVERNMENT declared two mining

commodities, namely coal and nickel to be the most affected by the outbreak of the corona virus or Covid-19 since the beginning of this year.

Bambang Gatot Ariyono, Director General of Minerals and Coal (Minerba) of the Ministry of Energy and Mineral Resources (ESDM), revealed that although there is currently a tendency to increase prices, it is predicted to not last long. Precisely if the outbreak lasts a long time then the long term impact will directly affect the prices of the two commodities which will continue to plummet.

"The most impact is coal and nickel. Short term prices go up, but if the long

going to fall soon. This has been g

for six months, if a year has bad impact," Bambang said in Jakarta, Tuesday (10/3). Coal and nickel have been the mainstay because its production is one of the largest in the world. Indonesia's largest coal market share abroad is China. In 2020 alone at least Indonesian coal will contribute 40% of all China's coal imports. Likewise with nickel before there was a ban on the export of low grade ore from the government.

In March 2020, the reference coal price or HBA was US$ 67.08 per ton, up from th February HBA of US$ 66.89 per ton.

For nickel, price declines have begun to occur since last month. In March,

Coal and Nickel, Indonesia's

Mining Commodities Most

Corona Plague Affected

declared two mining commodities, namely coal and nickel to be the most affected by the outbreak of the 19 since the

Bambang Gatot Ariyono, Director General of Minerals and Coal (Minerba) of the Ministry of Energy and Mineral Resources (ESDM), revealed that although there is currently a tendency to increase prices, it is predicted to not last long. Precisely if the eak lasts a long time then the long-term impact will directly affect the prices of the two commodities which will

"The most impact is coal and nickel. Short-term prices go up, but if the long-Short-term is going to fall soon. This has been going on for six months, if a year has bad impact," Bambang said in Jakarta, Tuesday (10/3). Coal and nickel have been the mainstay because its production is one of the largest in the world. Indonesia's largest coal market share abroad is China. In 2020 alone at least Indonesian coal will contribute 40% of all China's coal imports. Likewise with nickel before there was a ban on the export of low grade ore from

In March 2020, the reference coal price or HBA was US$ 67.08 per ton, up from the February HBA of US$ 66.89 per ton.

For nickel, price declines have begun to In March,...

Batu Bara dan Nikel, Komoditas

Tambang Indonesia Paling

Terdampak Wabah Corona

Rio Indrawan

P

EMERINTAH menyatakan dua komoditas

tambang, yakni batu bara dan nikel menjadi yang paling terdampak

virus corona atau Covid ini.

Bambang Gatot Ariyono, Direktur Jenderal Mineral dan Batu Bara (Minerba) Kemen terian Energi dan Sumber Daya Mineral (ESDM), mengungkapkan meskipun saat ini ada kecenderungan kenaikan harga, tapi itu diprediksi tidak akan berlangsung lama. Justru jika wabah ini berlangsung lama maka dampak jangka panjang akan langsung berimbas pada harga dua komoditas tersebut yang akan terus anjlok.

“Yang bisa paling berdampak ya batu bara dan nikel. Harga-harga

kalau long term ini lama

kan sudah berlangsung enam bulan,

setahunan bisa habis kita,” kata Bambang di Jakarta, Selasa (10/3).

Batu bara dan nikel

andalan karena produksinya salah satu yang terbesar di dunia. Pangsa pasar terbesar batu bara Indonesia ke luar negeri sendiri adalah China. Pada 2020 saja setidaknya batu bara Indonesia akan berkontribusi 40% dari seluruh impor batu bara China.

Begitu juga sengan nikel sebelum ada larangan ekspor nikel ore kadar rendah dari pemerintah.

Pada Maret 2020, harga batu bara acuan atau HBA sebesar US$67,08 per ton, naik dari HBA Februari sebesar US$ 66,89 per ton.

Untuk nikel, penurunan harga terjadi sejak bulan lalu.

Page 9

Batu Bara dan Nikel, Komoditas

Tambang Indonesia Paling

Terdampak Wabah Corona

Rio Indrawan

menyatakan dua komoditas kni batu bara dan nikel menjadi yang paling terdampak merebaknya wabah virus corona atau Covid-19 sejak awal tahun

Bambang Gatot Ariyono, Direktur Jenderal Mineral dan Batu Bara (Minerba) Kemen-terian Energi dan Sumber Daya Mineral

pkan meskipun saat ini ada kecenderungan kenaikan harga, tapi itu diprediksi tidak akan berlangsung lama. Justru jika wabah ini berlangsung lama maka dampak jangka panjang akan langsung berimbas pada harga dua komoditas tersebut

ng bisa paling berdampak ya batu bara harga short term naik, tapi ini lama-lama akan jatuh. Ini kan sudah berlangsung enam bulan, kalau setahunan bisa habis kita,” kata Bambang di

selama ini menjadi andalan karena produksinya salah satu yang terbesar di dunia. Pangsa pasar terbesar batu bara Indonesia ke luar negeri sendiri adalah China. Pada 2020 saja setidaknya batu bara Indonesia akan berkontribusi 40% dari

ra China.

Begitu juga sengan nikel sebelum ada larangan ekspor nikel ore kadar rendah dari

Pada Maret 2020, harga batu bara acuan atau HBA sebesar US$67,08 per ton, naik dari HBA Februari sebesar US$ 66,89 per ton.

Untuk nikel, penurunan harga sudah mulai Pada Maret ini...

(10)

IMA-Daily Update

In March, the price of nickel was US$ 12,994.57 per dry metric ton (dmt). Down from February's position of US$ 14,029.72 per dmt from that which also dropped from January's position of US$ 16,107.27

For nickel at this time the government only allows the export of high grade nickel or its derivative products.

According to Bambang, the corona outbreak has not shown any disruption to the export of high grade nickel or its derivative products, but if the outbreak lasts a long time then a clear disturbance can occur. "Not yet (disruption), if the long term could be due to the factory stopping, but he said China is starting to move now, hopefully it will not be long term," said Bambang.

PTBA President Director: The

Company Will Buyback Shares

Finna U. Ulfah

T

HE RED-listed coal mining company, PT

Bukit Asam Tbk., (PTBA) will carry out a stock buyback or buyback after receiving the green light from the Ministry of SOEs. Managing Director of Bukit Asam Arviyan Arifin confirmed that the company will conduct a buyback in the near future given the condition of the domestic capital market which has slowed in recent trading. "Regarding the number of shares that will be absorbed, how much is issued, and when it will be carried out, we will discuss it first," Arifin said when contacted by Bisnis.com, Tuesday (03/10/2020).

In March, the price of nickel was US$ 12,994.57 per dry metric ton (dmt). Down from February's position of US$ 14,029.72 per dmt from that which also dropped from January's position of US$ 16,107.27 per dmt. For nickel at this time the government only allows the export of high grade nickel or its

According to Bambang, the corona outbreak has not shown any disruption to the export of high grade nickel or its derivative t if the outbreak lasts a long time then a clear disturbance can occur. "Not yet (disruption), if the long term could be due to the factory stopping, but he said China is starting to move now, hopefully it will not be long term," said Bambang. (RI)

Pada Maret ini harga nikel US$ 12.994,57 per dry metric ton (dmt). Turun dari posisi Februari US$14.029,72 per dmt dari yang juga turun dari posisi Januari US$ 16.107,27 per dmt.

Untuk nikel saat ini pemerintah hanya mengizinkan ekspor nikel berkadar tinggi atau produk turunannya.

Menurut Bambang, wabah corona belum menunjukkan adanya gangguan ekspor nikel kadar tinggi atau produk turunannya, tapi jika wabah berlangsung lama maka gangguan jelas bisa terjadi.

”Belum (gangguan), kalau long term bisa jadi karena pabrik berhenti, tapi katanya China mulai bergerak sekarang moga moga nggak jadi long term

(RI)

PTBA President Director: The

Company Will Buyback Shares

listed coal mining company, PT Bukit Asam Tbk., (PTBA) will carry out a stock buyback or buyback after receiving the green light from the Ministry of SOEs. Managing Director of Bukit Asam Arviyan Arifin confirmed that the company will the near future given the condition of the domestic capital market which has slowed in recent trading. "Regarding the number of shares that will be absorbed, how much is issued, and when it will be carried out, we will discuss contacted by Bisnis.com, Tuesday (03/10/2020).

Dirut PTBA: Perusahaan Bakal

Buyback Saham

Finna U. Ulfah

E

MITEN tambang batu bara berpelat

merah, PT Bukit Asam Tbk., (PTBA) bakal melaksanakan pembelian kembali atau

buyback saham setelah mendapatkan

lampu hijau dari Kementerian BUMN. Direktur Utama Bukit Asam Arviyan Arifin mengonfirmasi bahwa perseroan akan melakukan buyback dalam waktu dekat mengingat kondisi pasar modal dalam negeri yang melesu dalam beberapa perda gangan terakhir.

“Terkait jumlah saham yang akan diserap, berapa yang dikeluarkan, dan kapan akan dilaksanakan masih akan kami bicarakan terlebih dahulu,” ujar Arifin saat dihubungi

Bisnis.com, Selasa (10/3/2020).

Page 10

Maret ini harga nikel US$ 12.994,57 per dry metric ton (dmt). Turun dari posisi Februari US$14.029,72 per dmt dari yang juga turun dari posisi Januari US$

Untuk nikel saat ini pemerintah hanya mengizinkan ekspor nikel berkadar tinggi

u produk turunannya.

Menurut Bambang, wabah corona belum menunjukkan adanya gangguan ekspor nikel kadar tinggi atau produk turunannya, tapi jika wabah berlangsung lama maka gangguan jelas bisa terjadi.

”Belum (gangguan), kalau long term bisa brik berhenti, tapi katanya China mulai bergerak sekarang

moga-long term,” kata Bambang.

Dirut PTBA: Perusahaan Bakal

Buyback Saham

Finna U. Ulfah

tambang batu bara berpelat merah, PT Bukit Asam Tbk., (PTBA) bakal pembelian kembali atau saham setelah mendapatkan lampu hijau dari Kementerian BUMN. Direktur Utama Bukit Asam Arviyan Arifin mengonfirmasi bahwa perseroan akan melakukan buyback dalam waktu dekat mengingat kondisi pasar modal dalam su dalam beberapa

perda-“Terkait jumlah saham yang akan diserap, berapa yang dikeluarkan, dan kapan akan dilaksanakan masih akan kami bicarakan terlebih dahulu,” ujar Arifin saat dihubungi

(11)

IMA-Daily Update

Based on Bloomberg data, on Tuesday (10/3/2020) trading, PTBA shares were parked at the level of Rp2,310 per share, successfully appreciated 4.52 percent or 100 points. Nevertheless, throughout the year 2020 PTBA shares are in the red zone and have corrected 13.16 percent.

Meanwhile, the company actually currently has around 330 million shares or 2.87 percent of the total share ownership. Treasury shares have a maturity to be released back to the market in 2021.

Meanwhile, the company had cash flow and cash equivalents in 2019 of Rp 4.75 trillion, down 24.5 percent compared to 2018 cash and cash equivalents of Rp 6.3 trillion.

On a different occasion, Deputy Minister of SOE Kartika Wirjoatmodjo said that the government had given the green light to 12 state-owned companies to conduct a buyback.

This was done by utilizing the easing of buyback regulations without the General Meeting of Shareholders (GMS) issued by the Financial Services Authority (OJK) on Monday (9/3/2020).

Special Staff of SOE Minister Arya Sinulingga said that the buyback plan would cost around Rp7 trillion-Rp8 trillion.

On the other hand, Maybank Kim Eng analyst Isnaputra Iskandar revised its recommendation for PTBA from hold to buy with a target price of Rp2,800 per share. "The target price was revised to Rp2,800 per share, which implies an increase of 27 percent from the last price," Isnaputra said in his research on Tuesday (10/3/2020). Based on analyst consensus conducted by Bloomberg, as many as 12 analysts recommend buying PTBA, as many as 7 hold, while as many as 5 analysts recommend buying. Editor: Hafiyyan

Bloomberg data, on Tuesday (10/3/2020) trading, PTBA shares were parked at the level of Rp2,310 per share, successfully appreciated 4.52 percent or 100 points. Nevertheless, throughout the year 2020 PTBA shares are in the red zone

percent.

Meanwhile, the company actually currently has around 330 million shares or 2.87 percent of the total share ownership. Treasury shares have a maturity to be released back to the market in 2021.

Meanwhile, the company had cash flow and nts in 2019 of Rp 4.75 trillion, down 24.5 percent compared to 2018 cash and cash equivalents of Rp 6.3 trillion. On a different occasion, Deputy Minister of SOE Kartika Wirjoatmodjo said that the government had given the green light to 12 anies to conduct a

This was done by utilizing the easing of buyback regulations without the General Meeting of Shareholders (GMS) issued by the Financial Services Authority (OJK) on

Special Staff of SOE Minister Arya said that the buyback plan would

Rp8 trillion.

On the other hand, Maybank Kim Eng analyst Isnaputra Iskandar revised its recommendation for PTBA from hold to buy with a target price of Rp2,800 per share.

ed to Rp2,800 per share, which implies an increase of 27 percent from the last price," Isnaputra said in his research on Tuesday (10/3/2020). Based on analyst consensus conducted by Bloomberg, as many as 12 analysts recommend buying PTBA, as many as 7 , while as many as 5 analysts

Editor: Hafiyyan

Berdasarkan data Bloomberg

gangan Selasa (10/3/2020), saham PTBA parkir di level Rp2.310 per saham, berhasil terapresiasi 4,52 persen atau 100 poin. Kendati demikian, sepanjang t

2020 saham PTBA berada di zona merah dan telah terkoreksi 13,16 persen.

Adapun, saat ini sesungguhnya perseroan masih memiliki saham treasury

atau 2,87 persen dari total kepemilikan saham. Saham treasury itu memiliki ja

dilepas kembali ke pasar pada 2021.

Sementara itu, perseroan memiliki arus kas dan setara kas pada 2019 sebesar Rp4,75 triliun, melemah 24,5 persen dibandingkan dengan kas dan setara kas 2018 sebesar Rp6,3 triliun. Dalam kesempatan yang ber

Menteri BUMN Kartika Wirjoatmodjo menga takan bahwa pemerintah telah memberi lampu hijau kepada 12 perusahaan pelat merah untuk melakukan

Hal ini dilakukan dengan memanfaatkan pelonggaran regulasi buyback

Rapat Umum Pemegang Saham (RUPS) yang dikeluarkan Otoritas Jasa Keuangan (OJK) pada Senin (9/3/2020).

Staf Khusus Menteri BUMN Arya Sinulingga mengatakan bahwa rencana buyback ini akan menghabiskan dana sekitar Rp7 triliun triliun.

Di sisi lain, Analis Maybank Kim E Isnaputra Iskandar merevisi rekomendasinya untuk PTBA dari hold

target price di Rp2.800 per saham.

“Target price direvisi ke Rp2.800 per saham, yang menyiratkan kenaikan 27 persen dari harga terakhir,” ujar Isnaputra dalam riset nya, Selasa (10/3/2020).

Berdasarkan konsesus analis yang dilakukan oleh Bloomberg, sebanyak 12 analis mereko mendasikan untuk beli PTBA, sebanyak 7

hold, sedangkan sebanyak 5 analis mereko

mendasikan beli. Editor : Hafiyyan

Page 11

Bloomberg, pada

perda-gangan Selasa (10/3/2020), saham PTBA parkir di level Rp2.310 per saham, berhasil terapresiasi 4,52 persen atau 100 poin. Kendati demikian, sepanjang tahun berjalan 2020 saham PTBA berada di zona merah dan telah terkoreksi 13,16 persen.

Adapun, saat ini sesungguhnya perseroan masih sekitar 330 juta saham atau 2,87 persen dari total kepemilikan saham. itu memiliki jatuh tempo untuk dilepas kembali ke pasar pada 2021.

Sementara itu, perseroan memiliki arus kas dan setara kas pada 2019 sebesar Rp4,75 triliun, melemah 24,5 persen dibandingkan dengan kas dan setara kas 2018 sebesar Rp6,3 triliun. Dalam kesempatan yang berbeda, Wakil Menteri BUMN Kartika Wirjoatmodjo menga-takan bahwa pemerintah telah memberi lampu hijau kepada 12 perusahaan pelat merah untuk melakukan buyback.

Hal ini dilakukan dengan memanfaatkan

buyback tanpa didahului

egang Saham (RUPS) yang dikeluarkan Otoritas Jasa Keuangan (OJK)

Staf Khusus Menteri BUMN Arya Sinulingga mengatakan bahwa rencana buyback ini akan menghabiskan dana sekitar Rp7 triliun-Rp8

Analis Maybank Kim Eng, Isnaputra Iskandar merevisi rekomendasinya menjadi buy dengan di Rp2.800 per saham.

“Target price direvisi ke Rp2.800 per saham, yang menyiratkan kenaikan 27 persen dari harga terakhir,” ujar Isnaputra dalam

riset-Selasa (10/3/2020).

Berdasarkan konsesus analis yang dilakukan , sebanyak 12 analis mereko-mendasikan untuk beli PTBA, sebanyak 7

, sedangkan sebanyak 5 analis

(12)

IMA-Daily Update

Adaro Energy (ADRO) is

targeting production of up to 58

million tons of coal in 2020

Reporter: Noverius Laoli | Editor: Noverius Laoli

E

VEN though market conditions this year

have not been fully stable, PT Adaro Energy Tbk (ADRO) is still working to boost coal production. The issuer sets a coal production target of around 54 million-58 million tons this year.

This amount slightly exceeds ADRO

production target in 2019 in the range of 54 million-56 million tons. The realization of ADRO coal production in 2019 reached 58.03 million tons, aka growing 7.38% (yoy) compared to the previous year's achievement of 54.04 million tons.

Adaro Energy's Head of Corporate Communication Febriati Nadira rate, coal market conditions this year will likely remain challenging. Therefore, he will remain focused on efforts to increase operational excellence accompanied by control and cost efficiency to the exe

of strategies for business continuity.

Indeed, at this time the corona virus began to spread and seemed to disrupt various industries. However, until now ADRO has not felt a direct impact from the outbreak of the virus, especially in terms of coal exports by this company.

Because, ADRO has many customers in various countries with a balanced market portfolio. "ADRO has the flexibility to shift volumes if needed," said Febriati, today (10/3).

Adaro Energy (ADRO) is

targeting production of up to 58

million tons of coal in 2020

Reporter: Noverius Laoli | Editor: Noverius

though market conditions this year have not been fully stable, PT Adaro Energy Tbk (ADRO) is still working to boost coal production. The issuer sets a coal production target of around 54

58 million tons this year.

This amount slightly exceeds ADRO's coal production target in 2019 in the range of 56 million tons. The realization of ADRO coal production in 2019 reached 58.03 million tons, aka growing 7.38% (yoy) compared to the previous year's achievement of 54.04 million tons.

y's Head of Corporate Communication Febriati Nadira rate, coal market conditions this year will likely remain challenging. Therefore, he will remain focused on efforts to increase operational excellence accompanied by control and cost efficiency to the execution of strategies for business continuity.

Indeed, at this time the corona virus began to spread and seemed to disrupt various industries. However, until now ADRO has not felt a direct impact from the outbreak of the virus, especially in terms of coal

Because, ADRO has many customers in various countries with a balanced market portfolio. "ADRO has the flexibility to shift volumes if needed," said Febriati, today

Adaro Energy (ADRO) targetkan

produksi hingga 58 juta ton

batubara di 2020

Reporter: Noverius Laoli Laoli

K

ENDATI kondisi pasar di tahun ini belum

sepenuhnya stabil, PT Adaro Energy Tbk (ADRO) tetap berupaya menggenjot produksi batubara. Emiten terse

produksi batubara sekitar 54 juta pada tahun ini.

Jumlah tersebut sedikit melampaui target produksi batubara ADRO di tahun 2019 di kisaran 54 juta-56 juta ton. Adapun realisasi produksi batubara ADRO sepanjang tahun 2019 mencapai 58,03 juta ton alias tumbuh 7,38% (yoy) dibandingkan capaian tahun sebelumnya sebesar 54,04 juta ton.

Head of Corporate Communication

Energy Febriati Nadira menilai, kondisi pasar batubara di tahun ini kemungkinan besar akan tetap menantang. M

pihaknya akan tetap fokus terhadap upaya peningkatan keunggulan operasional yang disertai pengendalian dan efisiensi biaya hingga eksekusi strategi demi kelangsungan bisnis.

Memang, saat ini virus corona mulai menyebar dan tampak mengganggu

industri. Kendati demikian, hingga kini pihak ADRO belum merasakan dampak langsung dari merebaknya virus tersebut, terutama dari segi ekspor batubara yang dilakukan perusahaan ini.

Pasalnya, ADRO memiliki banyak pelanggan di berbagai negara denga

yang berimbang. “ADRO memiliki fleksibilitas untuk shifting volume jika diperlukan,” ujar Febriati, hari ini (10/3).

Page 12

Adaro Energy (ADRO) targetkan

produksi hingga 58 juta ton

atubara di 2020

Noverius Laoli | Editor: Noverius Laoli

kondisi pasar di tahun ini belum sepenuhnya stabil, PT Adaro Energy Tbk ) tetap berupaya menggenjot produksi batubara. Emiten tersebut mematok target produksi batubara sekitar 54 juta-58 juta ton

Jumlah tersebut sedikit melampaui target produksi batubara ADRO di tahun 2019 di 56 juta ton. Adapun realisasi produksi batubara ADRO sepanjang tahun capai 58,03 juta ton alias tumbuh 7,38% (yoy) dibandingkan capaian tahun sebelumnya sebesar 54,04 juta ton.

Communication Adaro

Febriati Nadira menilai, kondisi pasar batubara di tahun ini kemungkinan besar akan tetap menantang. Maka dari itu, pihaknya akan tetap fokus terhadap upaya peningkatan keunggulan operasional yang disertai pengendalian dan efisiensi biaya hingga eksekusi strategi demi kelangsungan

Memang, saat ini virus corona mulai menyebar dan tampak mengganggu berbagai industri. Kendati demikian, hingga kini pihak ADRO belum merasakan dampak langsung dari merebaknya virus tersebut, terutama dari segi ekspor batubara yang dilakukan

Pasalnya, ADRO memiliki banyak pelanggan di berbagai negara dengan portofolio pasar yang berimbang. “ADRO memiliki fleksibilitas untuk shifting volume jika diperlukan,” ujar Febriati, hari ini (10/3).

(13)

IMA-Daily Update

Just for the record, from ADRO's total sales volume last year which amounted to 59.18 million tons, 42% of which was

Southeast Asia. Then 29% of ADRO coal is sold to East Asia outside China while 15% is sold to India. The portion of ADRO coal sales to the Bamboo Curtain country last year only reached 12%.

In general, ADRO continues to believe in the coal market fundamentals for the long term. This is supported by the Southeast Asian and South Asian regions that are trying to pursue economic development and improve the electricity sector.

As a result, the demand for coal from the region on paper is likely to increase in the future.♦

The Price of Coal Won't Move

from the Lowest Level, Why?

Tirta Citradi, CNBC Indonesia

C

OAL prices closed slightly higher in trading

on Tuesday, even barely moving. Previously, coal prices plummeted and touched the lowest level since September 2019.

At the close of trading yesterday, Tuesday (03/10/2020) the price of Newcastle's ICE futures coal contract closed up 0.08% to US$ 64.6/ton or barely moved from the previous price.

Previously, coal prices fell following the drop in oil prices. But the rebound in o

the last two days was unable to lift the price of coal. Understandably the performance of coal imports in Asian countries tends to decline compared to last year.

Just for the record, from ADRO's total sales volume last year which amounted to 59.18 million tons, 42% of which was exported to Southeast Asia. Then 29% of ADRO coal is sold to East Asia outside China while 15% is sold to India. The portion of ADRO coal sales to the Bamboo Curtain country last

In general, ADRO continues to believe in et fundamentals for the long term. This is supported by the Southeast Asian and South Asian regions that are trying to pursue economic development and improve the electricity sector.

As a result, the demand for coal from the crease in the

Sekadar catatan, dari total volume penjualan ADRO di tahun lalu yang berjumlah 59,18 juta ton, 42% di antaranya diekspor ke Asia Tenggara. Kemudian 29% batubara ADRO dijual ke Asia Timur di luar China sedangkan 15% batubara dijual ke

penjualan batubara ADRO ke negeri Tirai Bambu pada tahun lalu hanya mencapai 12%.

Secara umum, ADRO tetap percaya dengan fundamental pasar batubara untuk jangka panjang. Hal ini didukung oleh kawasan Asia Tenggara dan Asia Selatan yang tenga berupaya mengejar pembangunan ekonomi dan meningkatkan sektor ketenagalistrikan. Alhasil, permintan batubara dari wilayah tersebut di atas kertas berpelua

ningkat di masa mendatang.

rice of Coal Won't Move

from the Lowest Level, Why?

prices closed slightly higher in trading on Tuesday, even barely moving. Previously, coal prices plummeted and touched the lowest level since September 2019.

close of trading yesterday, Tuesday (03/10/2020) the price of Newcastle's ICE futures coal contract closed up 0.08% to US$ 64.6/ton or barely moved from the previous

Previously, coal prices fell following the drop in oil prices. But the rebound in oil prices in the last two days was unable to lift the price of coal. Understandably the performance of coal imports in Asian countries tends to

Harga Batu Bara Ogah Beranjak

dari Level Terendah, Kenapa?

Tirta Citradi, CNBC

H

ARGA batu bara ditutup menguat tipis

pada perdagangan Selasa kemarin, malahan nyaris tak bergerak. Sebelumnya harga batu bara anjlok dalam dan menyentuh level terendah sejak September 2019.

Pada penutupan perdagangan kemarin Selasa (10/3/2020) harga batu bara kontrak berjangka ICE Newcastle ditutup menguat tipis 0,08% ke level US$ 64,6/ton atau nyaris tak beranjak dari harga sebelumnya.

Sebelumnya harga batu bara jatuh mengekor anjloknya harga minyak. Namun

harga minyak dalam dua hari terakhir tak mampu mengangkat harga batu bara. Maklum kinerja impor batu bara di negara negara kawasan Asia cenderung menurun dibanding tahun lalu.

Page 13

Sekadar catatan, dari total volume penjualan ADRO di tahun lalu yang berjumlah 59,18 juta ton, 42% di antaranya diekspor ke Asia Tenggara. Kemudian 29% batubara ADRO dijual ke Asia Timur di luar China sedangkan 15% batubara dijual ke India. Porsi penjualan batubara ADRO ke negeri Tirai Bambu pada tahun lalu hanya mencapai

Secara umum, ADRO tetap percaya dengan fundamental pasar batubara untuk jangka panjang. Hal ini didukung oleh kawasan Asia Tenggara dan Asia Selatan yang tengah berupaya mengejar pembangunan ekonomi dan meningkatkan sektor ketenagalistrikan. Alhasil, permintan batubara dari wilayah tersebut di atas kertas berpeluang me-ningkat di masa mendatang.♦

Harga Batu Bara Ogah Beranjak

dari Level Terendah, Kenapa?

batu bara ditutup menguat tipis pada perdagangan Selasa kemarin, malahan nyaris tak bergerak. Sebelumnya harga batu bara anjlok dalam dan menyentuh level terendah sejak September 2019.

penutupan perdagangan kemarin, harga batu bara kontrak berjangka ICE Newcastle ditutup menguat tipis 0,08% ke level US$ 64,6/ton atau nyaris tak beranjak dari harga sebelumnya.

Sebelumnya harga batu bara jatuh mengekor anjloknya harga minyak. Namun rebound harga minyak dalam dua hari terakhir tak mampu mengangkat harga batu bara. Maklum kinerja impor batu bara di negara-negara kawasan Asia cenderung menurun