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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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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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Showing 4786 to 4790 news of total 6871 |
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- Tamil Nadu electricity Board
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
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