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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Bukit Makmur.PT - Indonesia
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- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Mercator Lines Limited - India
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- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
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- Global Business Power Corporation, Philippines
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- The University of Queensland
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- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Planning Commission, India
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- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
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- Eastern Coal Council - USA
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- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
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- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
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- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
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- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
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- IHS Mccloskey Coal Group - USA
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- GN Power Mariveles Coal Plant, Philippines
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- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
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- Siam City Cement PLC, Thailand
- White Energy Company Limited
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- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
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- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
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- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
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- Mintek Dendrill Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
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- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
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- Star Paper Mills Limited - India
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- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
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- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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- Minerals Council of Australia
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- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
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- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
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