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Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
.jpg) Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insider Stories.
Insider Stories further said, the achievement was amid to significant growth on operating income by 1,272.26% due to the surging coking coal price and bigger production volume in 2010.
Borneo Energi successfully booked IDR348.85 billion net profit from IDR99.78 billion net loss in 2009.
In line with the advancing net profit, Borneo operating income skyrocket 2,012.04% to IDR1.01 trillion from IDR49.32 billion. Their operating margin rose 36.73% from 24.59%. Gross profit surged 1,526.25% to IDR1.50 trillion from IDR92.34 billion. Operating income increased 1,272.26% to IDR2.75 trillion from IDR200.52 billion. The revenue is in line with the target set some time ago.
This realization is beyond CIMB Securities estimation in which Borneo was predicted to book IDR2.56 trillion revenue in 2010. However, it is smaller that IDR2.96 trillion as predicted by Morgan Stanley Securities.
For 2010, Borneo is estimated to record 1.65 million tons sales volume with average selling price at US$185 per ton.
Based on latest research by Mandiri Sekuritas, Borneo Energi is projecting coking coal average selling price at US$240-US$275 per ton in Q I/2011.
Borneo seals 3 years exclusive marketing agreements with Glencore for 2 million tons per year with 4.5% fee. In 2011, Borneo plans to enlarge production to 3.8 million tons where 2 million tons has contracted with a buyer from China.
About 99% of Borneo Lumbung Energy shares owned by PT Republik Energi Metal where 99% of its shares is under controlled of PT Republik Komoditi management.
Source: Insider Strories
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Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- PTC India Limited - India
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- Economic Council, Georgia
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- Billiton Holdings Pty Ltd - Australia
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- Bhushan Steel Limited - India
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- Cement Manufacturers Association - India
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- Global Coal Blending Company Limited - Australia
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