Consunji-led Semirara Mining and Power Corporation (SMPC) posted an income drop of 26-percent to P19.2 billion in this year’s first half from record-high level of P25.8 billion within a comparative period in 2022.
Consunji-led Semirara Mining and Power Corporation posted income drop of 26-percent to P19.2 billion in this year’s first half from record-high level of P25.8 billion within a comparative period in 2022.
SMPC primarily highlighted the nosedive on coal prices, with the Newcastle index plummeting 54-percent to $148.9 per ton on average compared to last year’s record high of $320.3 per ton; while the average for Indonesian coal index futures also dipped by 17-percent to $71 per $85.7 average last year.
Within April to June stretch this year, SMPC emphasized that its coal shipments for offshore markets had risen 22-percent to 4.5 MMT from 3.7 MMT a year ago; while off-take of domestic customers had been relatively flat at 1.9MMT. For the power generation side of the company’s business, capacity availability from its power plants climbed by 25-percent to 80-percent from previously 64-percent; mainly due to ramped up generation of the unit 2 of its Sem-Calaca coal-fired power plant.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DMCI donates universal testing machine to UP | VG CabuagDMCI Homes Inc., the property development arm of Consunji-led DMCI Holdings Inc., donated a 2000 kN universal testing machine to the Construction Materials and Structures Laboratory of the University of the Philippines-Institute of Civil Engineering (ICE). DMCI Homes President Alfredo Austria turned over the equipment along with laptop computers and…
Read more »
Chinabank’s H1 income shoots up 7% to ₧10.8B | Cai U. OrdinarioTHE Sy-led China Banking Corp. (Chinabank) posted a 7-percent growth in its net income in the first six months of the year on the back of “higher revenues and lower provisioning.” In a disclosure to the Philippine Stock Exchange on Thursday, Chinabank said its net income reached P10.8 billion in…
Read more »
House leader looks forward to BI modernization via P1.2-B trust fundCamarines Sur 2nd district Rep LRay Villafuerte is looking forward to the enactment of House Bill (HB) No.8203, or the long-sought Bureau of Immigration (BI) Modernization Act.
Read more »
East West Bank more than doubles profits in H1East West Banking Corporation (EW), the Gotianun Group’s lender, doubled its first half earnings to P3.3 billion, or 117 percent higher, driven primarily by sustained momentum from its lending portfolio.
Read more »
Potato Corner’s new snack Harvest Chips supports Benguet farmersThe partnership between Potato Corner and Gawad Kalinga aims to bring local produce center stage and increase income of local farmers.
Read more »
Senate OKs automatic income classification of LGUs bill on 3rd readingThe Senate on Monday approved on third and final reading the proposed Automatic Income Classification of Local Government Units (LGUs) Act—one of the priority measures of the Marcos administration.
Read more »