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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Vijayanagar Sugar Pvt Ltd - India
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- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Indian Energy Exchange, India
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- White Energy Company Limited
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- Wood Mackenzie - Singapore
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- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
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- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
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- AsiaOL BioFuels Corp., Philippines
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- Chamber of Mines of South Africa
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- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
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- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
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- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
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- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
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- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
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- Thiess Contractors Indonesia
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- The University of Queensland
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- Deloitte Consulting - India
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- Price Waterhouse Coopers - Russia
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- Romanian Commodities Exchange
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- Orica Mining Services - Indonesia
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- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
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- SN Aboitiz Power Inc, Philippines
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- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Australian Commodity Traders Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- Meralco Power Generation, Philippines
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- Global Coal Blending Company Limited - Australia
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- Australian Coal Association
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- CNBM International Corporation - China
- Ministry of Transport, Egypt
- MS Steel International - UAE
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- Iligan Light & Power Inc, Philippines
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