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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Chamber of Mines of South Africa
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- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
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- Electricity Authority, New Zealand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhushan Steel Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- The State Trading Corporation of India Ltd
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- Iligan Light & Power Inc, Philippines
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- Petron Corporation, Philippines
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- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
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- PTC India Limited - India
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- Wilmar Investment Holdings
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Trasteel International SA, Italy
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- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
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- Minerals Council of Australia
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- Bahari Cakrawala Sebuku - Indonesia
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- Antam Resourcindo - Indonesia
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- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
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- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
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- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
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- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Economic Council, Georgia
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- London Commodity Brokers - England
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