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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Kobexindo Tractors - Indoneisa
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- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
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- Dalmia Cement Bharat India
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- Tamil Nadu electricity Board
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- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
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- Energy Link Ltd, New Zealand
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- Energy Development Corp, Philippines
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- Merrill Lynch Commodities Europe
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- IHS Mccloskey Coal Group - USA
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- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
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- Samtan Co., Ltd - South Korea
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- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
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- The Treasury - Australian Government
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
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- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
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- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
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- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- Planning Commission, India
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- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
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- Sical Logistics Limited - India
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- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
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- Rio Tinto Coal - Australia
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- Ceylon Electricity Board - Sri Lanka
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- Metalloyd Limited - United Kingdom
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- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
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- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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