So far this year shares of Indonesian tin miner Timah have fallen 34.15 percent to IDR 700 a piece amid declining tin prices. These prices have weakened more than five percent since the year-start. However, does this mean that Timah is an uninteresting stock pick? What do the experts think? And do they agree?
Update COVID-19 in Indonesia: 4,223,094 confirmed infections, 142,413 deaths (06 October 2021)
08 October 2021 (closed)
Jakarta Composite Index (6,481.77) +65.37 +1.02%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Below is a list with tagged columns and company profiles.
Today's Headlines Tin
Eight commodity prices have been rising steadily so far this year on higher global demand. This rebound is expected to continue into 2017 although it will require a long time to touch the levels that we saw in 2011. The World Bank noted in a report released on 4 October 2016 that the prices of eight commodities - coal, crude oil, crude palm oil, copper, iron ore, tin, nickel and gold - have been rebounding so far this year. Rising commodity prices will support economic growth of Indonesia as Southeast Asia's largest economy is one of the world's largest commodity exporters.
What are the important corporate news headlines from Indonesia on Wednesday 13 August 2014? Below we present our daily market roundup. This includes the following companies and topics: Saratoga Investama Sedaya, Bumi Resources, First Resources Ltd, Indosat, Intiland Development, Nusantara Infrastructure, Semen Indonesia, Apexindo Pratama Duta, Dwi Aneka Jaya Kemasindo, Sumitomo Corporation, Gilang Agung Persada, Rekayasa Industri, tin sales, and undisbursed loans.
Last Friday, the International Monetary Fund (IMF) released its January 2014 Commodity Market Monthly. This report provides an update on global commodity prices. According to the report, global commodity prices rose 2.4 percent in December 2013, with increases in most main indices. During 2013, commodity prices increased 0.8 percent, with gains concentrated in the energy sector, up 3 percent from December 2012. Metals prices declined 7 percent due to continued increases in new capacity.
Indonesia Investments added a preliminary company profile of Timah (TINS), an Indonesian manufacturer and exporter of tin. The company, a state-controlled enterprise (SOE), has an integrated tin mining business ranging from exploration, mining, processing to marketing. The company is one of the largest integrated tin mining companies in the world and accounts for eight percent of total global tin production. Recently, the company has been eager to expand to Myanmar in order to increase production volumes.
Latest Columns Tin
State-controlled, yet listed on the Indonesia Stock Exchange, tin producer and exporter Timah is expected to experience improving corporate earnings in 2017 supported by recovering production volumes and the rising trend of global commodity prices. Danareksa Sekuritas expects the price of refined tin to rise 12.4 percent to USD $20,000 per ton this year, followed by a further rise to USD $21,000 per ton in 2018. Meanwhile, Danareksa Sekuritas also expects Timah's production volume to rise around 25 percent (y/y) to 28,000 tons this year (slightly below the company's target of 30,000 tons).
Starting from 12 January 2014, the export of all mineral-ores are banned in Indonesia. This controversial new policy, stipulated by the 2009 Mining Law (on Minerals and Coal Mining), was agreed upon by the nine fractions in Commission VII of the Indonesian parliament (DPR). Through this new law, the government intends to increase the value of exports while reducing dependence on raw exports and thus becoming less vulnerable to price downswings on the global commodities market.