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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, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
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- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- SN Aboitiz Power Inc, Philippines
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- The University of Queensland
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- Singapore Mercantile Exchange
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- Wood Mackenzie - Singapore
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- Trasteel International SA, Italy
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- Mintek Dendrill Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
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- Bangladesh Power Developement Board
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- Directorate General of MIneral and Coal - Indonesia
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- Indian Energy Exchange, India
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- London Commodity Brokers - England
- Independent Power Producers Association of India
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- Planning Commission, India
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- Thiess Contractors Indonesia
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- Kapuas Tunggal Persada - Indonesia
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- New Zealand Coal & Carbon
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- PowerSource Philippines DevCo
- Sical Logistics Limited - India
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- Parliament of New Zealand
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- Coal and Oil Company - UAE
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- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
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- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
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- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
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- Indian Oil Corporation Limited
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- White Energy Company Limited
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- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
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- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
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- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- The Treasury - Australian Government
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- Standard Chartered Bank - UAE
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