Straits Asia Resources

chingching83

照这样看来, 这支是不是没得救了
昨天跌了一毛, 今天已经1.86了

SINGAPORE, Oct 8 (Reuters) - Singapore-listed coal miner, Straits Asia Resources, said on Thursday the new coal loading facility at its Jembayan mine in Indonesia's East Kalimantan province has collapsed due to heavy rain.
The company did not say whether there were any casualties.
Straits Asia said it is investigating the extent of damage and the potential impact on the future operation of the newly commissioned facility. It said the facility will not be able to load its coal output for "some time".
UBS said in a research note that it might lower its valuation on the company if the disruption lasts longer than six months.
Straits Asia blamed the collapse on several days of rain in the area, which caused erosion and the failure of the foundation structure of the facility.
The company said the Jembayan mine site operates two load out trains at the mine, and the old facility, with a nominal annual capacity of 5.5 million tonnes, "does not appear to be affected by this event."
"All other mining activities at Jembayan continue to function normally and all reasonable steps are being undertaken to mitigate the impact of this event," the company said in a statement to the stock exchange.
Straits Asia, which exports most of its output to power plants in Japan, Korea, Taiwan and India, plans to boost its production from its two coal mines in East Kalimantan province to 9.5 million tonnes in 2009, from 8.6 million tonnes last year.
UBS analyst Andreas Bokkenheuser said in a note that the company should be able to achieve 8 million tonnes of output this year.
"If the loader won't be operational for another six months, our scenario analysis suggest a 10 percent downside from our current S$2.50 ($1.80) valuation to S$2.25," Bokkenheuser said.
The announcement came after the stock market closed. Straits Asia's shares had finished 1.38 percent higher to end at S$2.21, outperforming the broader market which finished 0.62 percent higher.

ianchew

我觉得这COUNTER 还有上升空间，暂时INDONESIA 那里的矿场出现状况才会造成股价下调，长期COAL 还是 ONE OF THE BEST COMMODITY STOCK 尤其是对有庞大发展中国家市场而言。。。JUST ２ CENTS

[ 本帖最后由 ianchew 于 5-11-2009 12:45 AM 编辑 ]

PaPerSoldier

我对他们的管理层持保留意见...

roberto

Straits Asia Resources: BUY; S$1.83; Bloomberg Code: SAR SP
3Q09 profit as expected

Price Target : 12-Month S$ 2.89 (Prev S$ 2.91)

        3Q09 profit inline with estimate
        Infrastructure damage will affect FY10 volume and earnings
        Recovery expected in 2011
        Maintain BUY with revise TP of S$2.89

3Q09 profit up 80% q-o-q.  Revenue grew by 14% q-o-q to US$200m on the back
of higher sales volume (+24% q-o-q) despite lower ASPs (-8% q-o-q).
However, gross profit fell 11% q-o-q to US$27m due to higher production
costs (+35% q-o-q) as production output increased 38% to 2.6m tons.  Unit
cost remained almost unchanged q-o-q.  Bottom line was lifted by 85% q-o-q.

2009 sales volume remains on track.  During the 9M09 period, total sales
volume already reached 6.4m tons (almost unchanged from last year),
on-track to achieve our FY09 estimate of 9m tons (71% achievement).

Solid y-o-y performance Revenue increased 19% y-o-y to US$515m, largely due
to 21% y-o-y rise in ASP to US$81/ton.  Hence, gross margin increased by
600bps to 43%.

Going forward we expect gross margin to be flat as ASP in and unit
production costs will not experience any significant changes compare to the
3Q09 figure.

Adjusting FY10 sales volume from Jembayan. Damage conveyor in Jembayan mine
will have little impact on FY09 production in our view.  However, SAR’s
production output for 2010 will be affected with Jembayan now operating at
only 5.5m tons capacity vs its previous load-out capacity of c.11m tons.
Having said that we reduced our FY10 volume estimates by 2m tons to 10m
tons, thus lowering FY10 earnings by 13% to US$134mn. We retained our
production estimates for FY11 onwards, as we expect the facility to be
repaired and operating by end of 2010. We expect sales volume in FY11 will
grow to 15mn tons.

Maintain BUY.  Following the FY10 earnings adjustment, our target price is
revised to S$2.89, derived from DCF valuation with assumed WACC of 10.7%,
implying 17x FY10 PE. We remain upbeat on the company’s outlook with
additional tonnage of reserves of Sebuku mine as the next catalyst.

pink0905

STRAITS ASIA RESOURCES LIMITED DIVIDEND
Announced on 2010-02-25

Particulars : USD 0.0203 TAX EXEMPT
Ex-date : 6 May 2010
Buy-In Last Cum Date : 10 May 2010
Record Date : 10 May 2010
Date Paid/Payable : 21 May 2010