Diana Lorenna
PT Kresna Graha Sekurindo Tbk
Jakarta Stock Exchange Building, Tower I, 30th floor
Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190, Indonesia
T +62 21 515 2889
F +62 21 515 5280
W www.e-kgs.com
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________________________________________________________
DJ MARKET TALK: Citi Upgrades L/T CPO Forecast On Oil Price Rise
0120 GMT [Dow Jones] Citigroup upgrades long-term crude palm oil, or CPO,
price assumptions after increasing crude oil price forecasts. "CPO and
crude have a loose arbitrage relationship, which will get stronger as the
biofuel industry grows."
Upgrades long-term CPO price assumption to US$934/ton based on long-term
oil price estimate of US$100/bbl from previous terminal CPO price of
US$700/ton based on US$75/bbl oil price.
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Kresna News Update
- Indonesia's actual investment in the first five months to May
surged 80.9 percent to 93.9 trillion rupiah ($10.4 billion) from 51.9
trillion a year ago, the Bisnis Indonesia newspaper reported on Tuesday citing
Investment Coordinating Board (BKPM) Chairman Muhammad Lutfi. Of this, actual
foreign direct investment (FDI) jumped 164.1 percent to 88.02 trillion rupiah
from 33.3 trillion rupiah in the same period last year. However, actual
domestic investment fell 68.2 percent to 5.9 trillion rupiah from 18.6 trillion
rupiah a year ago. He said the largest actual FDI was in transportation,
storage and communication, which totaled $6.55 billion. (Thomson Financial)
- Oil prices eased Monday as top world producer Saudi Arabia
appeared poised to boost production to the highest level in decades to ease a
record rally that has threatened global economic growth. US light, sweet crude
oil for July delivery settled down 25 cents at $134.61 a barrel, off a record
high of $139.89 set earlier in the session, triggered by weakness in the U.S.
dollar and an emergency shutdown of a North Sea oil platform. The US dollar
fell against the Euro amid expectations the European Central Bank will hike
interest rates to fight inflation. However, some analysts said that the move
may not be enough to stem oil's rally as it does little to repeal the
longer-term expectations for tight demand-supply balances on the back of
robust non-OECD demand and faltering non-OPEC supply.
Quincy Tjahyana
PT Kresna Graha Sekurindo Tbk
Jakarta Stock Exchange Building, Tower I, 30th floor
Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190, Indonesia
T +62 21 515 2889
F +62 21 515 5280
W www.e-kgs.com
The information in this message (and any attachments) is intended only for
the addressee(s) and may be confidential or contain privilege information. If
you are not the intended recipient please advise the sender by return email,
do not use or disclose the contents, and delete the message and any
attachments from your system. The information and opinions in this email may
be prepared for general circulation, and do not constitute a solicitation, or
an offer to buy or sell any security. Although this email and any attachments
are believed to be free of any virus or other defect that might affect any
computer system into which it is received and opened, it is the responsibility
of the recipient to ensure that it is virus free. Neither PT Kresna Graha
Sekurindo Tbk nor any of its subsidiaries, affiliates, directors, employees or
agents accept any liability for any loss or damage arising out of the use of
all or any part of the email in any way.
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