JAKARTA - PT Sumber Global Energy Tbk (SGER) managed to otain potential revenue of USD 10.94 million from Minergy Power Corporation (MPC), Philippines, earlier this week (25/11). However, this has yet to trigger any positive response from the market until this morning (28/11).

Based on IDNFinancials data, SGER’s price went down IDR 4, from IDR 402 to IDR 398, nearing 11 AM WIB. SGER’s position has been declining in the past 5 days, hitting IDR 420 per share. However, since the beginning of this year, it has actually plunged by 30.90% from IDR 576 per share.

This decline is in contrast with its contract obtained throughout November 2024. On November 19, SGER is set to supply coals to Power Generation Corporation and Duyen Hai Thermal Power Company as representative sellers worth USD 44.45 million or IDR 705 billion.

In addition, on November 11, the company purchased 2 million metric tons (MT) of coals from PT Merge Mining Industri (MMI), providing potential income of IDR 3 trillion. (LK/ZH)