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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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Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Timah Investasi Mineral - Indoneisa
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- Minerals Council of Australia
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- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
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- White Energy Company Limited
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- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhatia International Limited - India
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- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
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- PowerSource Philippines DevCo
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
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- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
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- Petrochimia International Co. Ltd.- Taiwan
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- OPG Power Generation Pvt Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
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- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
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- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
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- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
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- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Planning Commission, India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
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- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Altura Mining Limited, Indonesia
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- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
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