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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
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