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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
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- Posco Energy - South Korea
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- Africa Commodities Group - South Africa
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- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
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