State Owned Companies
[BUMN] of the mining sector were urged to increase sales volume toward end of
2013 to jack up profit. In the event that by quarter III-2013 sales volume was
not showing any progress, most likely profit would still be measly. “Therefore mining
operators must increase their sales volume so profit would increase by quarter
IV” Head of Trust Securities Reza Priyambada made statement last week in
Jakarta.
Record had it that BUMN performance in the mining sector
was down by quarter III-2013 due to unfavorable global macro economic
condition. Besides unprospective price of gold, nickel, steel and tin had
downsized their performance.
It was reported that PT Bukit Asam Tbk [PTBA] by
September 2013 had their profit drop to Rp1.24 trillion, followed by decreased
net profit of PT Aneka Tambang Tbk [ANTAM] by 44,56% to become Rp347.99
billion, lower than the same period of previous year at Rp627.78 billion.
Meanwhile PT Timah Tbk [TINS] was noted to have reduced
net profit by 62% to become Rp141 billion against Rp369.9 billion over the same
period last year. Financial performance and shares value of Antam would be weakening
although the management had been struggling all out to build a nickel factory
in Sulawesi. “We have anticipated downturn in financial performance and price
share of Antam, but when Antam plan to build a news factory it was expected to
serve as positive sentiment” Reza underscored.
Meanwhile
shares of PT Timah and PTBA were said to always be the subject to negative
sentiment. This was because fundamentally TINS and PTBA shares were
unprospective as product’s price was determined by global market price.
Business News - November 8, 2013
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