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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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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- MS Steel International - UAE
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Eastern Energy - Thailand
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- Siam City Cement - Thailand
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- Australian Commodity Traders Exchange
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- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Goldman Sachs - Singapore
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- Xindia Steels Limited - India
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- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
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- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
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- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
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- Larsen & Toubro Limited - India
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- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
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- Sojitz Corporation - Japan
- Planning Commission, India
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- Minerals Council of Australia
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- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
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- Mintek Dendrill Indonesia
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- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
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- ASAPP Information Group - India
- Wilmar Investment Holdings
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- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
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- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
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