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Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
 Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Revenues
Company’s revenue for Q1 2012 accounted for IDR 3.02 trillion, up 31% compared with 1Q 2011 amounting to IDR 2.3 trillion. It is mainly due to its increased sales volume and selling price of coal.
The weighted average selling price for the domestic market in Q1 2012 amounting to IDR 745,872, - per ton or increased 0.4% compared with 1Q 2011 amounted to IDR 742,566, - per ton.
The weighted average selling price for export market in 1Q 2012 amounted to USD 94.5 per ton, up 8% compared with 1Q 2011 amounting to USD 87.7 per ton.
Railway Transport
The volume of rail freight in the period from January to March 2012 increased to 2.9 million tons, up 6% compared to 1Q 2011 which was 2.8 million tons.
Sales Volume
In 1Q 2012, the Company's sales volume rose 26% compared to sales volume of 1Q 2011, from 3.1 million tons to 3.9 million tons. It was due to increased export sales volume by 71% or 1.7 million tons, while domestic sales increased by 4% or 2.2 million tons.
Production and Purchases
In 1Q 2012, Company's coal production rose 13% compared with 1Q 2011, which is up from 3 million tons to 3.4 million tons, including coal production from the subsidiary (IPC in East Kalimantan) for 0,2 million tons.
Average stripping ratio in 1Q 2012 is up to 5.0, from 3.4 in the previous year.
Coal purchases from third parties in the period January-March 2012 are up from 0.1 million tons to 0.36 million tons.
Thus, the total production and purchase of coal in 1Q 2012 is 3.7 million tons, up 21% over the same period last year.
Operating Profit Margin
The margin of the Company in the period of January-March 2012 is up 6% to IDR 1 trillion, from IDR 0.94 trillion in 1Q 2011
Net Profit Margin
Company's Net Profit for the period January-March 201 2 rose 14% to IDR 0.87 trillion. In 1Q 2012, Gross Profit Margin (GPM) and Net Profit Margin of 47.3% and 28.8%, up by 53.7% and 32.8% for the same period in 2011. In addition, the ROI rose from 4% to 9.96% and the ROA rose from 5% to 6.95%.
The Company's earnings per share for the period January-March 2012 amounted to IDR 376, - from the previous IDR 330, -, with a number of outstanding shares of 2,304,131,850 shares.
Assets
The Company had total consolidated assets per 31 March 2012 of IDR 12.474,43 billion, up 8% compared with total consolidated assets as per December 31, 2011. Cash and equivalent cash per 31 March 2011 was recorded at IDR 6,427.90 billion, down 5% compared with cash and equivalent cash as per December 31, 2011.
Target of 2012
Based on the optimistic scenario, sales volume of FY12 is expected to reach 18.6 million tons, up 37% of the actual FY11 which was at 13.5 million tons. The efforts in increasing sales volume is in line with expectations on the performance of the increase in railway transport capacity, the performance of the subsidiary IPC in East Kalimantan, as well as the performance of coal trading volume of BAP.
The target of railway capacity will increase to 15.6 million tons, up 35% from 11.5 million.
While for the tariff per ton in 2012, has agreed up 6% compared to 2011.
The target of mine production volume of subsidiary IPC in 2012 will increase to 0.9 million tons from 0.6 million tons in 2011. Similarly, coal trading volume of the BAP is targeted to rise to 0.8 million tons, from the previous 0.7 million tons.
In order to maintain low production costs and efficiency of the company’s operational activities, one of the ways is through the utilization of 3 x 10 MW power plant for mining operations in Tanjung Enim mine unit, built for the internal use will be fully operational at the end of 1H 2012.
The Company is also finalizing its own power plant for internal use at the location of the Tarahan Port with the capacity of 2 x 8 MW and is targeted to be operational by 2H 2013.
In accordance with the company’s plans to increase the capacity of the existing rail transport gradually, which in 2012 is 18.6 million tons and followed 22.7 million tons per year starting in 2014, the company is currently in the process of completion of some infrastructure capacity i.e. the increase of capacity at barging port in Kertapati, Palembang to become 2.7 million tons per year, and at Tarahan port to be 25 million tons per year with the addition of a newly built jetty which is capable for accommodating Capesize vessels (150,000 dwt). These capacities will be completed in line with the schedule in the second half of 2013.
DEVELOPMENT OF PROJECTS:
The Existing Railway Capacity
Coal Transport Agreement between the company and the state owned railway, PTKA was signed on December 14, 2011 and shall come into effect from January 1 to December 31, 2016, with the ultimate target towards a gradual increase up to 22.7 million tons in 2014 onwards.
In order to implement the agreement, PTKA have brought new locomotives and carriages as well as build a double track line from Tanjung Enim to Prabumulih.
Newly built Railway Line from Tanjung Enim – Lampung
PT Bukit Asam Transpacific Railway (PT BATR) is a Joint Venture Company between PTBA (10%), PT Transpacific Railway Infrastructure (80%) and China Railway Engineering Corporation (10%). It includes railway line and coal terminal with the distance of about 307 km and the throughput of 25 million tons per year, which is expected to start operation in early 2016.
Currently the project is still in the preparatory process of land acquisition, which is expected to be completed by the end of the first half of 2013; which was then followed by the EPC phase requires the completion duration for 36 months.
Newly built Railway Line from Tanjung Enim – Tanjung Api-api
The Indian Adani Group will build Coal Transport Railway line from Tanjung Enim to the new port at Tanjung Api-api with capacity of 35 million tons per year, and the distance of about 270 KM. The entire capacity of the railway line will be fully used to transport PTBA’s coal. Adani planned as the off taker for approximately 60% of the total volume transported by referencing the market price. The progress already completed the stage of Feasibility. The construction completion will be expected to take 3-4 years. As planned this project will start in operation in 2016.
Banjarsari Mine Mouth Power Plant (2 x 110 MW)
PT Bukit Generating Innovative (PT BPI), is in progress for the completion of the power plant construction in Tanjung Enim. The required level of coal consumption is 1.4 million per year and will be fully supplied by the PTBA.
The EPC of this project already started with the ground breaking in July of 2011, and based on the contract, the duration required for completion of this plant will be for 33 months.
Central Banko Mine Mouth Power Plant (2 x 620 MW)
Within the first semester of 2012, the Power Purchase Agreement (PPA) will be completed with the state electricity firm (PLN). The construction is expected to run in early 2013, and will be in operation in 2016. In full capacity, this plant will consume 5.4 million tons per year, fully supplied by PTBA.
Coal Bed Methane (CBM) Project
Joint Operation Agreement was signed in last February 2011 by a consortium of PTBA (27.5%), Pertamina (27.5%), and Dart Energy (45%). This project will already be able to operate commercially in 2013 with CBM gas production capacity of about 50 million ft3 per day. The drilling of 2nd pilot well was already conducted in March 2012 and will be followed by the 3rd pilot well.
About PT. Bukit Asam
The coal mining in Tanjung Enim was initiated by the Dutch Colonial Government in 1919 by operating the first coal mine using open pit mining method in Air Laya.
Using underground mining method, initial operation commenced in 1923 and lasted until 1940, while commercial production began in 1938.
When the Dutch Colonial period ended in Indonesia, the mining workers fought for the nationalization of the mines. In 1950, the Indonesian Government approved the establishment of State-Owned Bukit Asam Coal Mine or Perusahaan Negara Tambang Arang Bukit Asam (PN TABA).
In1981, PN TABA converted its status to a limited liability company under the name of PT Tambang Batubara Bukit Asam (Persero) Tbk, further called the Company. To develop coal industry in Indonesia, in 1990 the Government merged Perum Tambang Batubara with the Company.
In line with the national energy security development program, in 1993 the Company was assigned by the Government to develop coal briquette business.
On December 23, 2002 the Company became a publicly listed company on the Indonesian Stock Exchange under the code of “PTBA”.
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- The University of Queensland
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
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