Police repel pirate attack on Timah dredge Release date: 28
Apr 2008 A pirate attack on PT Timahs Singkep 17 tin dredge
in the early hours of Sunday morning was thwarted by the Riau islands water
police. Five of the 10 men involved in boarding the dredge are now under arrest
in Batam, in northern Indonesia.
The pirates, using a high power speedboat, boarded the dredge armed with
machetes with the aim of stealing tin concentrate stored onboard. However when
police arrived eight of the attackers jumped into the sea and two made off in
their boat.
The arrested men are now being questioned about their plans for the disposal of
the concentrate. None of them has disclosed the destination. We along with
Tanjungbalai Karimun police will continue questioning them, Riau Islands
police operation chief Commissioner Syahrial Denin told the Antara news agency.
04/29/08 00:50
PT Timah posts Rp487.3 billion in first quarter of 2008 net profitsJakarta
(ANTARA News) - State tin company PT Timah Tbk today reported its operational
performance and submitted its consolidated financial report, and also reported
its subsidiary that had not been audited in the period ending on March 31, 2008.
According to the report, the company booked a net profit of Rp487.3 billion,
up by 55% of last year`s Rp 314.3 billion in the same period. Thus, the
company`s net profit per share increased 55% from Rp625,- per share in the
first quarter of 2007 to Rp 968 per share in the first quarter this year.
The increase in the net profit was particularly the result of increase in the
average price of US$ 17,133 per metric ton of the tin metal in the first
quarter of 2008, which is 36% higher than the average price of tin in the same
period of 2007 standing and US$12,635 per metric ton.
In the meantime, the average exchange rate of the US dollar against the rupiah
received by the company increased 2% to Rp 9,291 to the US dollar from Rp 9,134
in the same period last year.
The tin sales in the first quarter of 2008 reached 10,176 metric tons, 30%
lower than the sales in the same period last year standing at 14,554 metric
tons.
Tin production dropped from 14,350 metric tons in the first quarter of 2007 to
11,523 metric tons in the first quarter of 2008, which is 20% lower, while tin
ore production in the first quarter of 2008 dropped 61% from 22,329 tons Sn in
the first quarter of 2007 to 8,730 tons Sn in the first quarter of 2008.
The cause of the decline in tin ore production was the lower production of tin
ore from the land mines by 69%, and the tin ore production in the first quarter
of 2007 standing at 20,230 tons Sn dropped to 6,178 tons Sn in the first
quarter of 2008.
Land tin ore production in the first quarter of 2007 was higher due to the
excess availability of tin ore of the people in the wake of the raid at tin
mines in October 2006, and the company was asked by the government to
accommodate the tin ore from the population which had not been channeled to
private smelters which had been shut down by the police for violating the law.
The proceeds from the sales in the first quarter of 2008 amounted to Rp1,811.9
billion, a drop of 3% compared to the Rp 1,858.9 billion in last year`s same
period, which consisted of the proceeds of the sales of tin ore Rp1,619.9
billion (89%), proceeds of the sale of coal Rp184.8 billion (10%), and the rest
came from the sale of technical services, docking and explorations respectively
Rp915 million, Rp2.7 billion, and Rp3.6 billion.
In the meantime, the posted price of tin dropped by 25% from Rp 1,259.4
billion in the first quarter of 2007 to Rp945.9 billion in the same period of
2008.
The company`s assets increased 26% in the first quarter of 2008 namely
Rp5,181.2 billion from the Rp4,100.8 billion in the first quarter of 2007. The
main cause of the raise was the increase in the company`s liquid assets by
39%.(*)
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