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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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Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- London Commodity Brokers - England
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- Anglo American - United Kingdom
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- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
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- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
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- McConnell Dowell - Australia
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- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
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- Indian Energy Exchange, India
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- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Altura Mining Limited, Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
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- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
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- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
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- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
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- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
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- Romanian Commodities Exchange
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- New Zealand Coal & Carbon
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- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
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- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
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- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
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- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
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