Aldira Sunrise 13 January 2024

• KRAS targets 1.7M tons of steel production in 2025
Krakatau Steel (KRAS) stated that the Hot Strip Mill 1 (HSM 1) factory has been operating again
since 30 Dec 24. Previously, the HSM 1 factory had stopped operating on May 23 and would
start producing the first coil again at the end of 24. Currently, KRAS continues to strive to
optimize the performance of the HSM 1 factory so that it can produce Hot Rolled Coil (HRC)
in 2025 optimally and meet domestic HRC needs. As the factory has halted production for a
year and a half, consumer confidence has become a challenge in marketing its products.
However, KRAS has signed a Long Term Supply Agreement (LTSA) for 1,256,000 tons in 2024,
with details of HRC of 786,000 tons and CRC of 470,000 tons. Thus, the company projects
that there will be an increase in revenue and steel sales volume in 2025. KRAS said that in
terms of sales volume, KRAS targets sales to reach 1.7M tons on a consolidated basis. (Kontan)
• META allocates IDR 150B capex in FY25
Nusantara Infrastructure (META) has budgeted capex of around IDR 150B in 2025. Most of the
capex will be allocated to the Jakarta Outer Ring Road (JORR) Elevated project. The JORR
Elevated development project has an investment value of IDR 21T. Meanwhile, the rest will
be allocated for fixed assets for operational needs and potential for other infrastructure
development. Furthermore, META will continue to carry out the voluntary delisting process
from the Indonesia Stock Exchange (IDX) in 2025. META’s delisting process started when it
received approval from the Independent GMS on 19 Dec 23. Initially, META targeted the
delisting process from the IDX to be completed in 2024. However, META has announced an
extension of the voluntary tender offer period from 6 Dec 24 to 5 Mar 25. Payments to
participants who offer their shares during this voluntary tender offer extension period will be
made on 17 Mar 25. (Kontan)
• TINS announced exploration activities plan for 2025
Timah (TINS) revealed plans for exploration activities in early 2025. In 1Q25, the company
plans to carry out evaluations and continue activities from the previous month. Drilling
activities at sea are planned to use five drill ships on Jan 25 allocated to Bangka and Kundur
waters. Meanwhile, TINS also plans to carry out land drilling activities for tin (primary &
alluvial) and guide drilling on Bangka Island and Belitung Island, ground magnetic
geophysical surveys in the Bangka area, as well as topographic surveys in Bangka and
Belitung. TINS also announced the exploration report for 4Q24, which focuses on tin
commodities with total costs incurred of IDR 49.26B. This amount is entirely operational costs
and there are no investment costs. In more detail, TINS exploration activities at sea in 4Q24,
in the form of drilling activities in Bangka and Kundur Waters using 5 drillships in Oct, 5 units
drill ships in Nov, and 3 drill ships in Dec with a total of 12,169.45 meters drilled. In more detail,
TINS exploration activities at sea in the fourth quarter of 2024, in the form of drilling activities
in Bangka Waters and Kundur Waters using 5 drillships in October, 5 drillships in November,
and 3 drillships in December with a total of 1000 meters of drill. as much as 12,169.45 meters.
Meanwhile, exploration activities on land in 4Q24 include mapping, resistivity geophysical
surveys, and tin drilling (primary & alluvial), as well as scout drilling on the islands of Bangka
and Belitung, with a total of 3,432.90 meters drilled. (Bisnis Indonesia)