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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Madhucon Powers Ltd - India
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- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
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- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Transport, Egypt
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
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- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
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- Parry Sugars Refinery, India
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- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
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- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
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- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
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- Orica Australia Pty. Ltd.
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- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
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- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
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- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
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- Metalloyd Limited - United Kingdom
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- Aboitiz Power Corporation - Philippines
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- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Minerals Council of Australia
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- Binh Thuan Hamico - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
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- Economic Council, Georgia
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- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Petron Corporation, Philippines
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- The University of Queensland
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- Power Finance Corporation Ltd., India
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- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
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- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
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- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
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- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Planning Commission, India
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- Australian Commodity Traders Exchange
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