[BRIGHT INFO] "A Cup of Tea"

GD2U and HAPPY RAMADHAN for BETTER LIFE

Investors slowed their hectic buying of US stocks Monday, leaving the major indexes little changed after a four-day advance. Stocks pulled back from their early highs as financial stocks, which had been surging, retreated. The DJIA rose 3.32, or less than 0.1%, to 9,509.28, after earlier rising as much as 82 points.

Most Southeast Asian stock indexes hovered around a one-week high on Monday, buoyed by optimism about economic recovery. The rally in Southeast Asian shares to a surge in U.S. stocks on Friday. Hong Kong shares climbed 1.67% on Monday, tracking strength on mainland and overseas stocks markets. China's main stock index ended up 1.1% on Monday in rangebound trade, with strong earnings by index heavyweight Sinopec Corp. Both markets are seen having limited upsides as investors turned cautious after the rebound.

Crude oil gained 0.6% to a 10-month high of $74.34 a barrel. Nickel jumped 3.6% to $20,000 a ton and tin climbed 0.7% to $14,400 a ton. Crude palm oil futures rose 1.3% yesterday, but came off a one-week high hit earlier in the day following market talk of a drop in palm oil exports for the August 1-25 period.

Coal prices have jumped to their highest in a year as a drop in Chinese domestic output forces the country to import. China’s net imports of coking coal rose to 12.6m tones between January and June, up from 1.1m in the same period last year. Spot prices for coking coal surged last week to $160 a tones, up almost 40% in the last three months and the highest in 12 months. The spot price is now 24% above the price at which annual contracts were settled for 2009-10.

European industrial orders increased more than economists forecast in June, according to a report today from the European Union’s statistics office in Luxembourg. Nickel Scrap Tightness. The nickel market will be in a 29,000-ton deficit next year versus a 28,000-ton surplus this year, Bank of America Securities- Merrill Lynch. The tightness in the scrap market through to 2010 would force stainless steel mills to use more refined nickel and ferronickel.

Our market still had positive momentum from fundamental indicator. The market has taken into its head we are going to see a recovery in the fourth quarter. I think in the short term there's still quite a bit of upside but with tightening liquidity we might see some correction.

My top pick was still on coal, base metal and Telecommunication for mid-term investment. Continue to Buy on Weakness at ANTM, INCO, TINS, BUMI, PTBA, ADRO, TLKM and ISAT. For second liner are ENRG, TBLA, DGIK, BKSL, RALS and SULI.

“STREAMLINE” ---

[Personal Opinion ]
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DISCLAIMER: This report is issued by [BRIGHT INFO]. Although the contents of this document may represent the opinion of [BRIGHT INFO]. We cannot guarantee its accuracy and completeness.

Financial Times Coal price surges on Chinese demand

By Javier Blas in London

Published: August 23 2009 19:06 | Last updated: August 23 2009 19:06

Coal prices have jumped to their highest in a year as a drop in Chinese domestic output forces the country to import.

The shift has particularly benefited the price of coking coal, used for steelmaking and much scarcer than thermal coal, which fires power plants.

Christopher LaFemina, mining analyst at Barclays Capital, said “Coking coal is one of our preferred commodities”, adding that the seaborne coal market was “turning the corner”.

The strength of Chinese imports has surprised coal miners Xstrata, BHP Billiton, Rio Tinto and Anglo American that were braced for a protracted period of low prices because of low demand in Japan, South Korea and Taiwan, the traditional buyers.

Vivek Tulpulé, Rio Tinto’s chief economist, said that the rise of Chinese seaborne coal demand was triggered by the closure of many small mines early this year.

Sharply falling coal prices in late 2008 and early 2009 put several high-cost mines in China out of business. This coincided with a crackdown by Beijing on illegal and dangerous mines. Domestic supplies were cut, and import demand rose.

China’s net imports of thermal coal were 24m tonnes in the first half of the year, against exports of 4m in the same period of 2008.

Net imports of coking coal rose to 12.6m tonnes between January and June, up from 1.1m in the same period last year. As prices have risen, domestic producers are bringing mines back into production, putting the sustainability of high coal imports into question.

The tightness of the market was illustrated in August when Consol Energy, a US-based miner, shipped the first cargo of US coking coal into China in five years. Usually, Australia supplies the Chinese market because of its proximity.

Spot prices for coking coal surged last week to $160 a tonne, up almost 40 per cent in the last three months and the highest in 12 months.

The spot price is now 24 per cent above the price at which annual contracts were settled for 2009-10.

Bank of America-Merrill Lynch recently raised its forecast for coking coal annual contract prices to $140 a tonne next year, up from $129 this year. Thermal coal spot prices have risen less, trading at $75 a tonne, up 25 per cent from March’s low of $60 a tonne, according to McClosley, the coal data provider. Thermal coal is still well below last year’s record of more than $180 a tonne.

[BRIGHT INFO] "A Cup of Tea"

GD2U and HAPPY RAMADHAN for BETTER LIFE

DJIA shot up 155 points on Friday, closing above 9,500 for the first time since Nov. 4, 2008, and all the big indexes finished with gains of more than 1.5%. European stocks advanced after services in Germany and manufacturing in France unexpectedly rose. Purchases of existing homes climbed 7.2%, the National Association of Realtors said Friday in Washington.

China shares ended a roller coaster week on a high note, advancing 1.7% in rising volume on Friday, led by banks after strong earnings reports, although it posted its third weekly loss in a row.

Hong Kong shares dropped 0.6% on Friday as fears resurfaced about a likely clampdown on lending. Reports that China's banking regulator may tighten capital rules by excluding subordinated bonds banks sell to other lenders from their capital base triggered selling in Chinese bank stocks in Hong Kong. That is old news and the market already responded to this once. But investor confidence has been so shaken by the sell-off earlier this week that every time this news surfaces its an excuse to sell.

Crude oil rose to a 10-month high in New York on Friday, following equities higher on speculation that the global recession is easing. Crude oil for October delivery increased 98 cents to $73.89 a barrel. Newcastle Coal closed at $72 down 3%.

Nickel, which surged 17% the past month, may advance further as price momentum and inflation expectations lure fund managers even as stockpiles of the metal approach a 14-year high. The CHART on the London Metal Exchange shows that the lower panel tracks inventories in metric tons. The price jumped to its highest level for a year on Aug. 13 and open interest was a record 147,117 contracts on Aug. 14, according to LME data. The price momentum behind metals is so strong that the market is attracting external players.

Malaysian cpo rose 1.9% on Friday, recovering from a near three-week low earlier in the session on talk of lower production in a key growing region.

Our market still had high volatility with tight liquidity. As our fundamental economic still strong and regional data getting better, I think we do not worry. We still put JCI target at range 2375-2450 for year-end 2009. And we still believe that it will achieve.

For today I think our market will move and stay on territory positive. Our focus is still on sector mining such as a base metal and coal, energy, telecommunication, bank.

Top Pick for today is TLKM, ISAT, PTBA, BUMI, ADRO, BBNI, BDMN, INDF, UNTR, BNBR, ANTM, TINS and INCO. We put SoS for BBRI, BBCA, BMRI.

Note: BUMI through the subsidiary business Calipso Investment Pte Ltd are bidding up to 15.8% shares in Herald Resources Ltd price AUD 0.7 per share which is 75% premium from closing Friday. Currently, Calipso has an 84.2% share Herald.

“EXPENSIVE? NOT REALLY”

Detikfinance Produksi Harian Energi Mega Tumbuh 19%

Jakarta - PT Energi Mega Persada Tbk (ENRG) telah berhasil meningkatkan produksi harian migas menjadi 29.100 barel per hari (bph) di semester I 2009. Angka ini meningkat 19% jika dibandingkan angka produksi harian pada semester yang sama di tahun lalu.

Menurut Investor Relations ENRG, Herwin W Hidayat, perseroan menargetkan pertumbuhan produksi migas sebesar 20% dibanding tahun 2008 yaitu dari 25.100 bph menjadi 30.000 bph. Target 30.000 bph terdiri dari 15.000 bph minyak dan 100 bbtud (juta kaki kubik per hari)

"Dari target produksi harian sebesar 30 ribu bph sekarang sudah mencapai 29,1 ribu bph. Kita optimis level 30 ribu bph bisa tercapai dalam waktu cepat," jelas Herwin di Wisma Mulia, Jalan Gatot Subroto, Jakarta, Senin (13/7/2009).

Untuk produksi migas semester satu tersebut, lanjut Herwin, terdiri dari produksi minyak harian sekitar 13,8 ribu bph dan produksi gas sebesar 92 BBTUD. Produksi minyak meningkat hampir 40 persen dari 10,2 ribu bph di semester I 2008 menjadi 13,8 bph di semester 1 2009. Sementara untuk produksi gas meningkat dari 86 bbtud menjadi 92 bbtud.

"Kontribusi produksi gas terbesar berasal dari blok Kangean yaitu 35-40 bbtud dan untuk minyak produksi terbesarnya berasal dari blok Malaka hampir 10 ribu bph," jelasnya. more...

Detikfinance EMP Targetkan Blok Tonga Mulai Produksi Akhir 2010

Jakarta - Blok Tonga yang dikelola PT Energi Mega Persada Tbk (ENRG) akan mulai berproduksi pada akhir tahun 2010. Produksi awal dari blok ini diperkirakan mencapai 600 barel per hari.

"Kami masih melakukan study seismik di Blok Tonga. Pada tahun 2011, kami harapkan
produksinya bisa mencapai 2.000 bph," ujar Chief Operation Officer PT Energi Mega Persada Tbk (ENRG), Amir Balfas dalam media gathering di Wisma Mulia, Jalan Gatot Subroto, Jakarta, Senin (13/7/2009).

Pada pertengahan tahun lalu, ENRG telah mengakuisisi 53,4 persen kepemilikan tidak langsung di Blok Tonga yang terletak di Sumtera Utara senilai US$ 11,8 juta. Menurut perkiraan awal, blok ini memiliki cadangan migas setara dengan 90 juta barel minyak.

Selain blok Tonga, Amir menjelaskan pihaknya menargetkan blok Gas Metana Batura (GMB) Tabulako dan Sangata-2 milik ENRG akan mulai berproduksi paling cepat 2012. Kedua blok ini dikelola ENRG melalui anak usahanya PT Artha Widya Persada dan PT Visi Multi Artha pada bulan Mei lalu.

ENRG memiliki 70 persen kepemilikan di PT Artha Widya Persada yang memiliki 100 persen kuasa pertambangan di blok GMB Tabulako di Kalimantan Selatan. Selain itu, ENRG juga memiliki 70 persen dari PT Visi Multi Artha yang pada saat ini memiliki 60 persen kuasa pertambangan di Blok GMB Sangatta-2 di Kalimantan Timur. more...