Berlian Laju: Recall Indonesia has granted the O&G industry exemption from the cabotage rule, in which Berlian Laju has been banking on for entrance into the mkt for FPSOs, FSOs, and VLGCs. CIMB note that abandonment of the cabotage rule will result in more competitive environment for future FPSO bids….
Development could also affect listing chances of its unit PT Buana Listya Tama, which is a grouping of its vessels that are deployed within domestic Indonesian waters. CIMB downgrades grp to Trading Sell from OutPerform with $0.05 TP.
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