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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Interocean Group of Companies - India
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- The State Trading Corporation of India Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
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- Directorate General of MIneral and Coal - Indonesia
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
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- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
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- SMC Global Power, Philippines
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- Wilmar Investment Holdings
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- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
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- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
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- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
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- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
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- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
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- Jaiprakash Power Ventures ltd
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