Jakarta, 20 March 2012
PT Timah ( Persero) Tbk reported today its Consolidated Financial Statement of the year ended
31 December 2012 of Rp 431.6 Billio n or Rp 85.8 per share which was 52% lower than that of 2011 net profit of Rp 896.8 Billion or Rp 178.6 per share. The lower on net profit was basically due to lower global tin price in LME with the difference of US$ 5,208 per mton compare to last year.
Company Strategic Plan
Similarly as last year, in response to uncertain market situation and unstable condition of
onshore mining, the management takes an initiative to implement sales strategy that does not focus on sales quantity performance but more focus on sales quality performance. In this case, management trying to improve the company profit not based on sales volume but rather to increase the sales margin. Hence, the spirit and strategy implemented to achieve this goal is by pursuing
added value product sales, decreasing commitment / contract sales and concentrating marketing effort to the end user customer. The product type that categorized as added value product is refined t
in that has Sn contain from 99.90% to 99.99% with the sales target of 100% from the total sales.
For comparison, the standar product has 99.85% Sn contain. This strategic plan also supported
by effort to increase the offshore production by operating Bucket Wheel Dredge (BWD) that ready to operate by 2013 and also backed by 15 units Cutter Suction Dredge (CSD) that have high mobility capability. Furthermore, the Company also pursue efforts to expand company’s business to overseas by conducting exploration activity in Burma
.
Based on its geographically location, Burma crossed over by “Asia tin belt” and whenever using the analogy, China is part of its head and Bangka Belitung is the part of its tail, meanwhile Burma is a part of its neck.Therefore, it is predicted that Burma has huge potential reserve of tin and so far tin mining in Burma has not managed properly. The purpose of tin exploration activity in Burma is to ascertaining the amount of proved and probable reserve of tin-in- concentrate that ready to be mined.