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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Sakthi Sugars Limited - India
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- Goldman Sachs - Singapore
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- Videocon Industries ltd - India
- The University of Queensland
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- Australian Coal Association
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- Minerals Council of Australia
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- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
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- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
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- LBH Netherlands Bv - Netherlands
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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- Heidelberg Cement - Germany
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- Port Waratah Coal Services - Australia
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- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
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- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
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- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
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- Eastern Energy - Thailand
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Indonesian Coal Mining Association
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
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- Australian Commodity Traders Exchange
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- SMC Global Power, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
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- Directorate Of Revenue Intelligence - India
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- New Zealand Coal & Carbon
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- Petrochimia International Co. Ltd.- Taiwan
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- Ministry of Mines - Canada
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- The Treasury - Australian Government
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- McConnell Dowell - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
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- Meralco Power Generation, Philippines
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- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
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- Georgia Ports Authority, United States
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