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Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
 Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electricity Generating Public Company Limited or EGCO Group revealed the company's financial performance for the second quarter of 2012 ended June 30 that its operating profits before FX was 1,963 million baht, an increase of 222 million baht from the same period of 2011. The uplifted performance was from the group's increasing profits before FX of the power generation business at 190 million baht and of the other business at 32 million baht. The company's ending balance of cash and cash equivalents was 4,978 million baht and had debt to equity of 0.56 times. Including an extraordinary profit from the additional acquisition in Quezon Power Plant, EGCO Group’s profit would have been 6,273 million baht, an increase of 4,524 million baht from the same period of last year.
As for the second quarter of 2012, Mr. Sahust reported that EGCO Group had successfully expanded investments in Thailand and ASEAN and ventured in new business in order to become an integrated energy provider. In the country, the company acquired 99.99% of ownership in two commercially operated solar power plants namely SPP2 in Saraburi province and SPP5 in Roi Et province with the capacity of 8 MW each from MEMC Singapore Pte Ltd. Those power plants have entered into a non-firm power purchase agreement with Provincial Electricity Authority (“PEA”), and are subsidized with adder of 8 baht/MW for 10 years.
In ASEAN, EGCO Group has acquired an additional 45.875% stakes in the Quezon Power Plant in the Philippines which summed up to 98% total holding stakes and also acquired 100% stakes in InterGen Management Services (Philippines), Ltd. (IMS). The acquisitions entitled EGCO Group as the major shareholder in the Quezon Power Plant enabling the company to mandate project management and administrative support to Quezon under a long-term Power Purchase Agreement.
EGCO Group had taken the first step into new business with an acquisition of 50% stakes of Biodiesel Plant Project from Absolute Power P Co., Ltd. (Absolute), with a total capacity of 300,000 litres per day. The Biodiesel Plant is located in Rojana Industrial Park, Rayong province. Additionally, the company recently reached itself into coal mine business by signing the Share Purchase Agreement to acquire 40% ownership of interest in the Manambang Muara Enim coal mine project (MME) in Indonesia, and became partner of Indonesian company PT Alam Karya Nusantara.
In terms of business development direction for the second half of 2012, EGCO Group plans to maintain investments in renewable energy projects in Thailand. The company is up to the next IPP bidding and is eager to explore new opportunities in the neighboring countries such as Laos and Myanmar.
For international business development, EGCO Group has a solid plan to invest in an extension of 500 MW in Quezon Power Plant and seek for further investments in ASEAN like the Philippines, Indonesia, and Vietnam. It also continues expanding into new businesses to meet the 'integrated energy provider' objective.
“The achievement in the acquisitions and joint-ventures in the second quarter are in accordance with the strategic direction to extend renewable energy business, expand international markets and become the integrated energy provider. This is to strengthen our investment ground in response to our promising growth in ASEAN in the near future.” concluded Mr. Sahust.
EGCO Group currently runs 20 operating plants and 9 projects under development in Thailand and overseas with total installed capacity of 6,191MW.
Source : EGCO's website
About EGCO
The Electricity Generating Public Company Limited or EGCO is the first independent power producer in Thailand. EGCO was incorporated on May 12, 1992 by Electricity Generating Authority of Thailand (EGAT) which marked the commencement of the Thai government’s privatization initiatives to allow broader private sector investment in the power sector. EGCO was transformed into a public company on March 23, 1994 and was listed on the Stock Exchange of Thailand (SET) on January 16, 1995.
EGCO is a holding company with investment in power generation and supply as well as comprehensive energy services providing operation, maintenance, engineering and construction services to power plants and other industries in Thailand and overseas. Furthermore, the company also searches for other good opportunities for growth in the energy related to the core business.
With the corporate philosophy to grow business over a long term, EGCO Group efficiently runs our electricity generating business while taking care of the environment and the society to maintain the balance between economics return and social and environment contribution which will lead to national sustainable development.
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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
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- Commonwealth Bank - Australia
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- Economic Council, Georgia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
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- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
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- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
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- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
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- Indo Tambangraya Megah - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
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- Mintek Dendrill Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
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- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
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- Marubeni Corporation - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
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- The University of Queensland
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- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
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- Offshore Bulk Terminal Pte Ltd, Singapore
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