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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, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
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