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Februari 16, 2011

Indonesia may regulate price of coal sold to state utility PLN
6:56am EST

JAKARTA, Feb 16 (Reuters) – Indonesia may regulate the price of coal sold to state utility firm PT Perusahaan Listrik Negara (PLN) if negotiations between the company and several coal producers fail to reach an agreement, the energy ministry told lawmakers in a report.

The ministry said that since November PLN has faced problems from coal suppliers asking for higher prices due to the increasing world prices caused by extreme cold weather and floods in Australia.

PLN has been negotiating prices with six companies and it expects to complete the talks by the end of this month. According to the ministry, PLN has not yet reached an agreement with PT Tambang Batubara Bukit Asam and Kaltim Prima Coal, a unit of top miner Bumi Resources .

“If agreement cannot be reached between PLN and these suppliers, we will recommend to issue a ministerial decree which will determine prices of coal sold to PLN,” the ministry said in the report.

The ministry said the price would refer to the existing coal price benchmark issued monthly by the ministry, and would limit the increase in PLN’s coal costs to not more than 2.13 trillion rupiah ($238.9 million) for this year.

PLN, the biggest domestic consumer of coal, estimates its coal-fired power plants will burn 52 million tonnes this year, up from 36 million tonnes in 2010.

For the monthly coal price benchmark in the world’s largest exporter of thermal coal see . ($1 = 8914.5 Rupiah) (Reporting by Alfian; Editing by Neil Chatterjee)
Thu Jan 20, 2011 6:09am EST

* Flows mixed; Thai outflows highest in over a week

* Singapore volume surges; others weak

* Coal miners, palm oil sectors among those hit

* Vietnam up; Templeton’s Mobius to up Vietnam Investment

By Viparat Jantraprap

BANGKOK, Jan 20 (Reuters) – Most Southeast Asian stock
markets fell on Thursday, with Singapore posting its biggest
drop in two months, as investors sold commodity and resource
stocks.

Concern about the impact of inflation on corporate margins
added to the selling pressure in the coal and plantation
sectors, which have been in favour of late, while consumer
stocks extended recent losses.

Singapore’s Straits Times Index .FTSTI slid more than 1
percent to its lowest in more than two weeks, with palm oil
firm Noble Group (NOBG.SI) and Golden Agri-Resources (GAGR.SI)
losing more than 2 percent.

J.P. Morgan said Golden Agri stock looked fully valued for
now and there was limited scope for crude palm oil prices to
rise. [ID:nL3E7CK03F]

The Singapore drop came in an active session, with volume
at twice its 30-day average, in contrast to Thailand and
Indonesia at 0.9 times their average and Vietnam at 0.7 times.

Franklin Templeton’s emerging markets head, Mark Mobius,
said he expected his fund’s investment in Vietnam to increase,
but he added that regulatory hurdles and slow market reforms
would limit the pace. He was speaking after the ruling
Communist Party unveiled its new leadership. [ID:nSGE70J02F]

Foreign fund flows were mixed in the region, with Indonesia
.JKSE seeing a small $4 million in outflows on the day, after
$24 million in inflows in the previous two days, Thomson
Reuters data showed.

Philippine stocks .PSI saw $55 milion in foreign money
flow in, reversing $22 million in outflows in the previous two
sessions. Thai stocks .SETI saw $86 million in foreign
selling after tiny inflows the day before, the stock exchange
said.

Institutions were sellers in Singapore, a local trader
said. Malaysia was closed for a holiday.

Sentiment in Asia weakened, in part due to poor earnings
from U.S. firms. The MSCI index of Asia and Pacific shares
excluding Japan .MIAPJ0000PUS fell 1.4 percent by 1006 GMT,
retreating from a two-month peak tested on Wednesday.

Falling U.S. crude prices CLc1 had an impact on resource
sectors across the region, including PT Indika Energy
(INDY.JK), Indonesia’s third-biggest coal miner, which dropped
6.2 percent. Indika’s share price doubled in 2010.

Investors in Indonesia are concerned about the possibility
of fund flow reversals this year, with money flowing from South
to North Asia, plus the possibility of outflows from emerging
markets in general back to the United States
, said Harry Su, a
senior analyst at PT Bahana Securities in Jakarta.

“The index could be range-bound over the next couple of
months. We believe that at this stage of the cycle, investors
will only get back into the market if companies can deliver
earnings growth.”
(Additional reporting by Singapore bureau; Editing by Alan
Raybould)

From → Seputar Indy

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