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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, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Therma Luzon, Inc, Philippines
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- London Commodity Brokers - England
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- Indonesian Coal Mining Association
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
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- Deloitte Consulting - India
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- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
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- Siam City Cement - Thailand
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- SMC Global Power, Philippines
- Goldman Sachs - Singapore
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- Sojitz Corporation - Japan
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- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
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- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
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- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
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- Marubeni Corporation - India
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- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
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- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
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