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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
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- Wilmar Investment Holdings
- Xindia Steels Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
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- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
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