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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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