Still pricey ('kemahalan') in waiting for secondary offering at the lowest
IDR9,050? We do not think it is cheap yet, not even close compared to DOID
for example, while other like BUMI and ADRO have well priced in the expected
increasing ASP (coal selling price), UNTR likewise. Bring them down to more
competitive reasonable price.Meanwhile, Goldman Sachs is seeing HRUM at the floor price of IDR8,750. [image: GS HRUM (May 2011).png] By the way, coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 2.3 percent to $119.47 a metric ton in the week ended May 27, according to the globalCOAL NEWC Index. '+'
<<GS HRUM (May 2011).png>>
