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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
 The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net profits more than double the amount booked in the same period last year, a senior executive says.
President director Sukrisno told reporters on Monday that net profits during the January-June period jumped to Rp 1.59 trillion (around US$160 million), as higher sale volume and prices bolstered revenues.
Revenue soared 56 percent to reach Rp 4.6 trillion.
“Revenue and profit soared as a result of higher volume sales and a better selling price for coal,” Sukrisno said on the sidelines of a meeting at the Office of the State Minister for State Enterprises.
During the first quarter, the company managed to sell its coal at $90 a ton on average, higher than the $60 and $70 a ton selling price in the same period last year.
Sukrisno is also cautiously upbeat about full-year prospects.
“We predict the revenue in the second semester will also be good. But who knows, because the coal price remains uncertain,” he said.
“It depends on the market price, but I am quite sure our sales volume will increase [from last year] by perhaps around 40 percent,” he said of the company’s full-year revenue estimates.
The company gained Rp 1.7 trillion in net profit last year, and paid the government Rp 555.2 billion in dividends.
It allocated a total of Rp 853.9 billion toward shareholder dividends in 2008.
PTBA is 65 percent owned by the government.
The company, which controls about a quarter of Indonesia’s coal reserves, is also launching an aggressive expansion by preparing several mine takeovers.
It is currently conducting feasibility studies for the purchase of two coal mines in Kalimantan, which have an estimated investment value of Rp 1.5 trillion.
According to Sukrisno, the company produced 5.8 million tons of coal in the first semester. The company is aiming to produce 13.5 million tons this year. (naf)
Source: The Jakarta Post
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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- Banpu Public Company Limited - Thailand
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- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
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- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
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- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
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- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
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- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
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- Wilmar Investment Holdings
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- Intertek Mineral Services - Indonesia
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- Indian Energy Exchange, India
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- The University of Queensland
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- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Eastern Coal Council - USA
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- Anglo American - United Kingdom
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- Georgia Ports Authority, United States
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- ASAPP Information Group - India
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- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
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- GN Power Mariveles Coal Plant, Philippines
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- Sical Logistics Limited - India
- Deloitte Consulting - India
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- Indian Oil Corporation Limited
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- Karaikal Port Pvt Ltd - India
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- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
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