State-owned holding for mining will increase the efficiencies of Inalum, Aneka Tambang Tbk (ANTM), Timah Tbk (TINS), and Bukit Asam Tbk (PTBA) by 10%-20%. This is because there are no more divisions that are overlapping.
Winardi, President Director of the state-owned holding for mining company which is Inalum, said that efficiency could be done on the exploration activities which could be combined into one, so each of the state-owned mining companies didn’t have to have their own explorations. “Currently, ANTM, TINS, and PTBA have their own coal mines. Later on, there will be no more overlapping for efficiency,” said Winardi.
According to Winardi, each state-owned enterprise for mining has different competencies. For example: PTBA for coals, ANTM for gold, TINS for tins, and Inalum for aluminium. Therefore, the asset management of state-owned mining company will be more optimized if it is done according to their competencies.
Bahana Securities recommended HOLD for ANTM with a target price of 680 IDR, REDUCE for TINS with a target price of 411 IDR, and BUY for PTBA with a target price of 12.670 IDR. (*)
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