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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
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- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
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- Mjunction Services Limited - India
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- Bulk Trading Sa - Switzerland
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- Global Green Power PLC Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
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- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
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- PowerSource Philippines DevCo
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- Bukit Makmur.PT - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
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- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
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- Independent Power Producers Association of India
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- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
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- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
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- The University of Queensland
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- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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- Intertek Mineral Services - Indonesia
- Australian Coal Association
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- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
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- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Star Paper Mills Limited - India
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- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
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- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Minerals Council of Australia
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- Romanian Commodities Exchange
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- Deloitte Consulting - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Petron Corporation, Philippines
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- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
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- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
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