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P H
Jan 27,2017 09:42:16

TINS merupakan salah satu produsen timah terbesar di dunia. Porsi ekspornya hingga akhir tahun  mencapai 55%–60%. Mereka mengantongi izin usaha pertambangan sebanyak 117 unit, dengan total luas wilayah penambangan 511.361 hektare. Emiten pelat merah ini memiliki cadangan biji timah mencapai 328.392 ton dari total sumber daya 801.882 ton di darat dan laut.

Tak hanya jualan timah, TINS melakukan diversifikasi bisnis agar bertahan dari fluktuasi harga timah. TINS menggarap produk hilir, seperti tin chemical, tin solder, serta thorium. "Tahun depan pengembangan thorium untuk bahan bakar pembangkit listrik,

TINS juga mengembangkan bisnis jasa perkapalan, rumah sakit, properti, dan agribisnis. Bisnis jasa perkapalan  akan melakukan pembenahan graving dock di Selindung, Pangkal Pinang, serta membentuk bisnis pengerukan melalui PT Dok & Perkapalan Air Kantung.

TINS lewat PT Rumah Sakit Bakti Timah (RSBT) memiliki empat rumahsakit yang akan diubah jadi rumahsakit modern. Empat klinik utama akan disulap menjadi rumahsakit tipe D yang menelan biaya investasi Rp 397 miliar. RSBT direncanakan melantai di Bursa Efek Indonesia (BEI) pada 2018 atau 2019.

Lalu, PT Timah Karya Persada Property mulai menjual properti di Bekasi, Kelapa Dua, dan Iskandarsyah. Melalui PT Timah Agro Manunggal, TINS menyiapkan penggemukan sapi potong berkapasitas 1.000 sapi. "Tahun depan target jualan sapi 1.000 sapi per bulan,"

$TINS

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P H
Nov 23,2016 15:44:10

Tin Prices Seen Extending Climb as Global Shortages to Last
by Bloomberg News

  • Metal is best performer after zinc on London Metal Exchange
  • CRU says tin is among its top picks for commodities next year

Tin, which has surged more than 40 percent this year, is set to keep advancing amid continued shortages because supply is not coming on fast enough, according to Peter Kettle, chief analyst at research group ITRI Ltd.

Prices may rise to about $30,000 a metric ton in 2018-2019, Kettle said at an industry conference in Shanghai, an increase of 42 percent from the level now. The market will have a deficit of 10,000 tons to 15,000 tons this year and a similar shortfall in 2017, he said on Tuesday. Tin is among the top picks for researcher CRU Group next year, said Susan Gao, head of consulting in China.

Tin, used for soldering in electronics, has gained to the highest level in more than two years, and is the best performer after zinc on the London Metal Exchange in 2016. Top shipper Indonesia has curbed exports and inventories in sheds tracked by the LME have slumped to the lowest since 2004. Tin and zinc are “the standout stories in terms of structural supply constraints capable of tightening the market,” Standard Chartered Plc said last month.

“We’re in a very long-term trend of declining stockpiles,” Kettle said. “If stocks fall much further, we will get to a critical point that prices could go much higher than the medium-term equilibrium” of about $22,500 a ton, he said. ITRI is a U.K.-based company which supports the industry and helps to expand the metal’s use. The group is backed by producers and smelters.

Shipments by Indonesia, the world’s largest exporter, plunged to 52,617 tons in the first 10 months of this year, the lowest for the period in at least a decade, from 61,713 tons a year earlier, Trade Ministry data show. Global supply trailed demand by 20,500 tons in the first eight months of 2016, according to data from the World Bureau of Metal Statistics. LME-tracked stockpiles have fallen by more than half since May.

Refined output in the country may drop to about 60,000 tons this year, Jabin Sufianto, head of the Association of Indonesia Tin Exporters, said in September. That compares with 67,350 tons in 2015 and would be the lowest since 2002, according to WBMS data. Kettle said on Tuesday that Indonesian supply will be about 60,000 tons in the medium term.

While Indonesia’s production has been hurt by rains and mining regulations, it could be 60,000 tons to 70,000 tons this year and may rise slightly in 2017 if the weather improves, Riza Pahlevi Tabrani, president director of top producer PT Timah ($TINS), said in an interview. Timah’s shares have more than doubled in 2016 and reached the highest in two years this month.

Prices above $22,500 are needed in the medium term to spur the supply required to balance moderate growth in demand, said Tom Mulqueen, an ITRI analyst. While Bolivian production is set to rise, output in China, Indonesia and Peru is faltering, he said. Tin for delivery in three months time added 1.2 percent to $21,100 on the LME by 10:48 a.m. in London on Tuesday.

Along with tin, Gao from CRU said at the conference that crude oil, nickel and zinc were also among her top choices for next year and that commodity prices overall were poised to rise further.

— With assistance by Winnie Zhu

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P H
Nov 22,2016 14:55:47

Tin Prices Seen Extending Climb as Global Shortages to Persist 2016-11-22 05:59:31.502 GMT
By Bloomberg News

(Bloomberg) -- Tin, which has surged more than 40 percent this year, is set to keep advancing amid continued shortages because supply is not coming on fast enough, according to Peter Kettle, chief analyst at research group ITRI Ltd.  Prices may rise to about $30,000 a metric ton in 2018-2019, Kettle said at an industry conference in Shanghai, an increase of 43 percent from the level now. The market will have a deficit of 10,000 tons to 15,000 tons this year and a similar shortfall in 2017, he said on Tuesday. Tin is among the top picks for researcher CRU Group next year, said Susan Gao, head of consulting in China.

Tin, used for soldering in electronics, has gained to the highest level in more than two years, and is the best performer after zinc on the London Metal Exchange in 2016. Top shipper Indonesia has curbed exports and inventories in sheds tracked by the LME have slumped to the lowest since 2004. Tin and zinc are “the standout stories in terms of structural supply constraints capable of tightening the market,” Standard Chartered Plc said last month.

“We’re in a very long-term trend of declining stockpiles,” Kettle said. “If stocks fall much further, we will get to a critical point that prices could go much higher than the medium-term equilibrium” of about $22,500 a ton, he said. ITRI is a U.K.-based company which supports the industry and helps to expand the metal’s use. The group is backed by producers and smelters.

Shipments by Indonesia, the world’s largest exporter, slumped to 52,617 tons in the first 10 months of this year, the lowest for the period in at least a decade, from 61,713 tons a year earlier, Trade Ministry data show. Global supply trailed demand by 20,500 tons in the first eight months of 2016, according to data from the World Bureau of Metal Statistics.

To contact Bloomberg News staff for this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net James Poole, Jake Lloyd-Smith

$TINS

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P H
Nov 18,2016 09:58:36

Mining: Government to transfer 9.36% stake in Freeport Indonesia

The government plans to transfer a 9.36% of stake in Freeport Indonesia to a newly-formed state-owned mining-holding company, Asaham Aluminium (Inalum) that would control Bukit Asam ($PTBA), Aneka Tambang ($ANTM) and PT Timah ($TINS). (Petromindo)

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P H
Aug 04,2016 21:40:37
PT Timah (Persero) Tbk ($TINS), berencana melakukan penawaran umum saham perdana (IPO) anak usahanya, yakni PT Rumah Sakit Bakti Timah, setelah perseroan meninjau seluruh rumah sakit telah beroperasi optimal. Saat ini, perseroan sudah memilih empat unit rumah sakit modern, yakni RS Bakti Timah Pangkalpinang, RS Medika Stannia Sungailiat, RS Bakti Timah Muntok dan RS Bakti Timah Karimun. (IQPLUS)

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P H
Jun 15,2016 10:24:08
TINS expects better performance – PT Timah ($TINS) is targeting a better performance in 2Q16 as commodity prices showed signs of improvements. The company’s ASP showed improvement from USD15,000/tons in 1Q16 to USD16,000/tons in 2Q16.

Bull
P H
Apr 19,2016 23:37:32
World tin reserves are running out

Tin is a silvery-white metal that is soft, ductile and malleable. Among the oldest metals known to mankind, it was discovered around 3000 BC during the bronze age, which is in fact named for an alloy of tin and copper. Its role in casting as an alloy created a valuable trade network that linked ancient civilization for thousands of years.

Tin does not occur naturally in pure form, so it must be extracted from other ores. Because of tin dioxide's high specific gravity, tin is often mined downstream of a primary deposit – along river banks, in valleys, or at the bottom of the ocean. Therefore, the most economical extraction methods are dredging, open-pit and hydraulic mining. Historically, the largest producers of tin have been China, Indonesia, Malaysia, Peru, Brazil and Bolivia.

Tin is primarily used in soldering, metal plating, a wide range of alloys, superconducting magnets and PVC plastics. As China and other emerging nations continue to demand resources beyond what the earth can provide, tin is among the metals now in critical decline. By the mid-2030s, most of the large economically recoverable deposits have been completely exhausted.

Local, individual and small-scale mines – not reporting their reserves in the manner of large mining corporations – have continued to supply the markets. Recent new discoveries in Columbia have also provided some temporary relief to demand. However, an adequate long-term solution can only be found with a complete replacement for tin.* Recycling has increased sharply as the market trends away from mineral sources.
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P H
Apr 14,2016 08:44:04
Tips trading buat hari ini  Kamis, tanggal 14 April 2016  :

1.IHSG kemarin semerbak dengan saham-saham kecil dengan kenaikan yang luar biasa, sedangkan saham baking masih tertekan, kecuali saham ASII.
Tidak usah peduli banget sama market yang susah naik dengan blue chips, kalau banyak saham kecil yang terbang dan memberikan cuan.

2.Jadi mendingan kita bahas satu persatu deh saham-saham yang naik luar biasa.

3.ELSA :Saham ini break out dengan volume yang luar biasa, saham ini jika mampu bertahan diatas level 450, maka targetnya masih jauh yaitu sekitar 630-650.Namun jika tidak mampu bertahan diatas level 450, sebaiknya take profit dulu.

4.GIAA : Saham ini sudah dimainkan 4 hari berturut-turut, so sebaiknya hati-hati, kemarin mencoba menembus level 600, namun tidak kuat sehingga turun kembali dibawah 600, target terdekat adalah 650. Risk lebih besar dari rewards, so main saham ini sebaiknya main cepat saja.

5.ANTM : Saham ini diisukan target menuju 800, kenaikan dalam 2 hari terakhir terlalu cepat, sehingga dapat saja terjadi konsolidasi dahulu, namun jika bertahan diatas level 630, maka saham ini otw menuju 800.

6.TINS : Saham ini sebentar lagi menuju level 1000, so sebaiknya hati-hati jika sudah mencapai level 1000, karena targetnya sudah dekat yaitu 1100.

7.PTBA : Saham ini menguji level 7825, jika mampu tembus level 7825, maka akan menguji level 8000, dengan target 10.000-12.000

8.INCO : Saham ini berpeluang menguji level 2000, dengan target terdekat 2045-2050, target mid term adalah 2700, dengan syarat harus mampu tembus dan bertahan diatas level 2050.

9.ERAA : Saham ini menguji level 800-810, jika tembus maka targetnya akan lumayan jauh, yaitu 1200, dengan syarat harus mampu bertahan diatas level 800.

10.ADRO :Saham ini otw to 800, saham ini ada small resist di level 760. nampak ADRO tidak akan sulit menembus level small resist tsb.

$IHSG $ELSA $GIAA $ANTM $TINS $PTBA $INCO $ERAA $ADRO
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P H
Apr 14,2016 08:42:36
Tips trading buat hari ini  Kamis, tanggal 14 April 2016  :

1.IHSG kemarin semerbak dengan saham-saham kecil dengan kenaikan yang luar biasa, sedangkan saham baking masih tertekan, kecuali saham ASII.
Tidak usah peduli banget sama market yang susah naik dengan blue chips, kalau banyak saham kecil yang terbang dan memberikan cuan.

2.Jadi mendingan kita bahas satu persatu deh saham-saham yang naik luar biasa.

3.ELSA :Saham ini break out dengan volume yang luar biasa, saham ini jika mampu bertahan diatas level 450, maka targetnya masih jauh yaitu sekitar 630-650.Namun jika tidak mampu bertahan diatas level 450, sebaiknya take profit dulu.

4.GIAA : Saham ini sudah dimainkan 4 hari berturut-turut, so sebaiknya hati-hati, kemarin mencoba menembus level 600, namun tidak kuat sehingga turun kembali dibawah 600, target terdekat adalah 650. Risk lebih besar dari rewards, so main saham ini sebaiknya main cepat saja.

5.ANTM : Saham ini diisukan target menuju 800, kenaikan dalam 2 hari terakhir terlalu cepat, sehingga dapat saja terjadi konsolidasi dahulu, namun jika bertahan diatas level 630, maka saham ini otw menuju 800.

6.TINS : Saham ini sebentar lagi menuju level 1000, so sebaiknya hati-hati jika sudah mencapai level 1000, karena targetnya sudah dekat yaitu 1100.
PTBA : Saham ini menguji level 7825, jika mampu tembus level 7825, maka akan menguji level 8000, dengan target 10.000-12.000

7.INCO : Saham ini berpeluang menguji level 2000, dengan target terdekat 2045-2050, target mid term adalah 2700, dengan syarat harus mampu tembus dan bertahan diatas level 2050.

8.ERAA : Saham ini menguji level 800-810, jika tembus maka targetnya akan lumayan jauh, yaitu 1200, dengan syarat harus mampu bertahan diatas level 800.

9.ADRO :Saham ini otw to 800, saham ini ada small resist di level 760. nampak ADRO tidak akan sulit menembus level small resist tsb.

$IHSG $ELSA $GIAA $ANTM $TINS $INCO $ERAA $ADRO
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P H
Mar 09,2016 12:08:05
Timah ($TINS): Beset by illegal mining

-  2015 net profit down 85% y-y on 25% ASP decline ... : TINS booked 2015 net profit of IDR102bn, above our (635%) but below consensus (19%) estimates, on an ASP decline of 25% to USD16,186/mt, which lowered revenue 9% to IDR6.9tn. Despite lower production costs (-20%) due to cost efficiencies on fuel consumption (-29% y-y), spare parts (-16%) and suspended production of unproductive assets, the 44% y-y increase in tin material purchases inflated COGS by 5% y-y and hurt 2015 earnings. Of note, TINS had tight interest coverage of 0.7x in 2015 (2014: 10.1x).        

-  ... tightening gross margin to 10% and net profit margin to 2% ...: The profitability margin fell significantly in 2015, causing the gross margin to decline to 10% (2014: 22%), while the net profit margin fell to 2% (2014: 9%) on higher selling(+60 y-y) and interest (+15% y-y) expenses.

-  ... despite 12% y-y sales volume increase: TINS sold 30.1k mt of refined tin in 2015, up 12% y-y and 6% above target; however, it was unable to offset the adverse impact of ASP drop. Production plunged 18% y-y to 26.4k mt, of which 70% were tin ores mined offshore. Looking ahead, we raise 2016 production inline with management’s guidance of 31k mt while 2016 tin price  assumption to USD15,000 from USD14,000/mt.  

Outlook: Weaker tin prices on economic contraction in China
While we raise our 2016 tin price assumption on lower inventory levels, China’s February PMI continued its weak trend, down to 49.0, worse than the market estimate of 49.4, reflecting a slow global economy and weak tin demand. Additionally, TINS continue to be beset by illegal mining which worsen supplies. Further, based on our sensitivity analysis TINS’ earnings would fall only 5% assuming lower average Brent oil price of USD30/bbl. We revise earnings as we expect improved ASPs and higher sales volumes.

Recommendation: Reiterate REDUCE and TP of IDR411
At this stage, we retain our REDUCE rating and 12M TP of IDR411 (DCF-based; WACC: 16%), reflecting 35% downside potential despite TINS’ 12M market underperformance (exhibit 4). Risks: higher tin prices on effective regulations restricting tin exports, which may accelerate inventory reduction.
Bear
P H
Apr 29,2015 08:08:54
§1Q15 net loss of IDR19bn, down 106% q-q and 120% y-y: TINS booked 1Q15 net loss of IDR19bn as a results of lower average selling price (ASP), down by 4% q-q and 19% y-y to USD18,936/mt. On the other hand, TINS 1Q15 gross margin decreased to 11% from 18% in 4Q14 and 26% in 1Q14, due to 33% y-y jump in TINS’ cost of goods sold. TINS 1Q15 earnings represented (30%) of our previous 1Q15 expectation, while on full-year basis, accounted for (3%) of our forecast and (3%) of consensus’ estimate. §Strong sales with refined tins production volumes up 37% y-y: TINS booked strong sales volumes of 5,304mt, down 53% q-q, but up 23% y-y, led to y-y revenue escalation of 10%. On the production side, tin ore production rose 7% y-y to 6,653mt, contributed equally from both onshore and offshore mining activities. Tin ore onshore production increased 65% y-y to 3,348mt as poor weather conditions disrupted TINS’ 1Q15 offshore mining activities. As a result, TINS booked higher COGS as onshore production cost was relatively higher due to additional costs in social cost expense and reclamation charges. On the back of higher tin ore production, refined tin production jumped 37% y-y to 7,057mt. Subject to global tin prices, TINS targets 25,000-29,000mt refined tins sales volumes in 2015. §Weak 1Q15 gross margin on low ASP: TINS 1Q15 gross margin fell to 11% (4Q14: 18%; 1Q14: 26%) on low ASP of USD18,936/mt, down 4% q-q and 19% y-y, combined with higher cash production cost. This led to weak operating margin of 0.1% in 1Q15 as selling expenses also skyrocketed 113% q-q and 14% y-y amounting to IDR25bn following higher sales volumes. Should onshore production continues and combined with weak tin price condition, we estimate TINS profitability will continue to suffer. Outlook: Weaker tin prices as China’s PMI contracted On the back of China’s latest PMI of 49.2, a 1-year low of 49.2 and below consensus’ expectation of 49.6, the country’s manufacturing activities are still contracting, which does not bode well for metal prices, including tins. We note that China still remains as the biggest tin consumer, accounting for 46% total global tin consumption in 2014. Against this backdrop, we therefore cut our tin price assumption to USD20,000/mt from USD22,000/mt, leading to TIN’s lower 2015 earnings of IDR160bn, down 76% from our previous estimate (exhibit 6). Recommendation: Cut to REDUCE with lower TP of IDR780 At this stage of the cycle, we revise down our 2015-16 net profit forecasts by 76-79% on the back of lower ASP and gross margin. This suggests TINS’ severe market underperformance (exhibit 4) is set to persist going forward. In line with our earnings downgrades, we revise our DCF-based (11% WACC) TP to IDR780 from IDR1,300, reflecting 2015F PE of 40.7x. With 13% downside potential from current levels, we lower our rating on TINS from BUY to REDUCE. Risks to our call include higher-than-expected tin prices.
Bear
Quotes delayed, except where indicated otherwise.
TINS
1,170.00 0.00 (0.00%)
Timah (Persero) Tbk.
Last Update 21:09:29