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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, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
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