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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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Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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- Vedanta Resources Plc - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
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