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Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
 The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The company, Asean's largest coal miner, blamed the worse-than-expected results on a drop in coal prices, higher fuel costs and the baht's appreciation over the past year.
CEO Chanin Vongkusolkit said the decline in net profit for the quarter ending in March reflected a lower-than-expected average selling price of US$66.27 per tonne, down by 21% from $84.20 a year earlier.
The fall in price was triggered by a poorer market environment in mid-2009, when the company's coal contracts for this quarter were priced.
In line with coal's price volatility, Mr Chanin said Banpu would maintain its yearly sales target at 57 million baht, as in 2009, even though its coal production is targeted to rise to 23 million tonnes from 21 million tonnes last year.
"We target an average selling price of between $65 and $70 per tonne," said Mr Chanin.
But net profit from the power business rose by 11% year-on-year to 1.26 billion baht in the first quarter, thanks to a significant improvement in the company's power operations led by the BLCP Power plant, which resumed operation after an annual shutdown for maintenance late last year.
Despite lower profit, Banpu's total sales rose by 12% year-on-year to 15.2 billion baht, with coal operations providing 89% and the power business 11%.Coal sales were driven by an expansion in Indonesian coal mines in 2009. The company operates five coal mines in Indonesia and has equity in coal and combined-heat power plants in China.
Banpu's Chinese coal business performed well, with sales up 100% from the previous quarter to 1 billion baht, but down 8% year-on-year, he added.
The company recently acquired 14.9% of Sydney-based Centennial Coal Co, a mining company in Australia valued by analysts at about 8.3 billion baht.
Mr Chanin described the investment as a strategic move that takes into account a new tariff for coal mining introduced by Australia's government on environmental grounds.
"Australia is still the major coal exporting country with an advanced, transparent regulatory framework. The investment in Australia fits in well with Banpu's portfolio on top of our coal operations in Indonesia and China," he said.
Despite its lower net income, analysts expect Banpu's second-quarter earnings to improve from the first quarter as stronger demand raises coal sales.
BLCP's contribution should also gain from higher power demand in line with record demand this year. The investment in Centennial should contribute dividend income to Banpu of about 170-200 million baht a year, or about 1.2% to 1.4% of net profit in 2010.
Shares of Banpu closed yesterday on the SET at 626 baht, down by 12 baht, in trade worth 1.4 billion baht.
Source: Bangkokpost (By:Yuthana Praiwan )
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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
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- Pendopo Energi Batubara - Indonesia
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- GVK Power & Infra Limited - India
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- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
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- SMG Consultants - Indonesia
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- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Orica Mining Services - Indonesia
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- Samtan Co., Ltd - South Korea
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- Electricity Generating Authority of Thailand
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- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
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- Alfred C Toepfer International GmbH - Germany
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- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
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- Ministry of Transport, Egypt
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- Formosa Plastics Group - Taiwan
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- Mjunction Services Limited - India
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- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Chamber of Mines of South Africa
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- IHS Mccloskey Coal Group - USA
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- Trasteel International SA, Italy
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- Merrill Lynch Commodities Europe
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- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
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- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
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- Coal and Oil Company - UAE
- The University of Queensland
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- Aboitiz Power Corporation - Philippines
- Australian Coal Association
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- Intertek Mineral Services - Indonesia
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- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ministry of Finance - Indonesia
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- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
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- Simpson Spence & Young - Indonesia
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- Kaltim Prima Coal - Indonesia
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- Planning Commission, India
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- Indian Oil Corporation Limited
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- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
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