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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
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- Toyota Tsusho Corporation, Japan
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- Semirara Mining Corp, Philippines
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- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Agrawal Coal Company - India
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- Ministry of Transport, Egypt
- ASAPP Information Group - India
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- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
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- GN Power Mariveles Coal Plant, Philippines
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- Samtan Co., Ltd - South Korea
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- SMC Global Power, Philippines
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- SMG Consultants - Indonesia
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- Xindia Steels Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
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- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
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