Analisa Saham HRUM | 28 Agustus 2018
IND: Harum Energy: Acquiring the remaining stake in PT Santan Batubara
♦ PT Santan Batubara has a brown field coal mine with coal reserve of 7m tonnes (JORC reserve) and coal resources of 109m tonnes (JORC resources). Santan Batubara has just resumed its coal production in 2H18.
♦ We are positive with the acquisition as we think it enable Harum Energy to keep ramping up its coal production. We maintain our Buy call on Harum Energy with TP: IDR3,400.
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