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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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- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
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- CNBM International Corporation - China
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
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- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
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- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
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- Attock Cement Pakistan Limited
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- Electricity Generating Authority of Thailand
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- Bangladesh Power Developement Board
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- Petron Corporation, Philippines
- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
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- Commonwealth Bank - Australia
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- Chamber of Mines of South Africa
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- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
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- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
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- Jaiprakash Power Ventures ltd
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- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- The University of Queensland
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- Wilmar Investment Holdings
- Singapore Mercantile Exchange
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- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
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- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
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- New Zealand Coal & Carbon
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
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- Australian Coal Association
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
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- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
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- Eastern Energy - Thailand
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
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- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
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- Kartika Selabumi Mining - Indonesia
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