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NEWS RELEASE: Asiatic secures US$20m funding for i
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Terence,
Comments ? Can be FG50 in 2yrs' time...
Press Release on 1 July.
Asiatic Group (Holdings) Limited (Asiatic, the Group or 亚洲集团), an emerging power play in Asia Pacific, has secured a US$20 million financing facility through its subsidiary, Colben Energy Holdings (PPSEZ) Ltd (CEHZ), to support its power project in Cambodia. Asiatic will, via CEHZ, hold a direct stake of 49% in the operating company set up under the Joint Venture in Cambodia to manage the power plants in Phnom Penh Special Economic Zone (PPSEZ) and has the right to exercise an option to increase it stake to about 70%.
where did you get the info about the 70% option? cant seem to find it anywhere
http://www.ppsez.com/infrastructure.html
Terence,
As PPSEZ grows, I believe Asiatic will exercise its option to take up to 70% stake in cambodia.
Yes, we waited 3yrs to see fruition of cambodia power plant. Now, Asiatic is "striding ahead" for vietnam's power plant. This is what I like about investing long term in this business -- first mover advantage in emerging economies.
The key statement is ".With the extensive backing now being provided by VIDIFI and HVD, Asiatic shall stride ahead with our development plans for the project – our single largest power supply undertaking to-date as well as our first green energy venture. Its successful completion shall demonstrate the Group’s ability to take on even larger power generation projects across Asia and underscore our commitment to establishing a name for ourselves in the renewable energy business.
Phase 1 is expected to be operational in 3Q12. Phase 2 – the 11MW Chu Linh Hydroelectric Plant – is slated to come onstream in 3Q14, about two years after the completion of Phase 1" .
I believe once the construction commences 2Q10, there will be more deals announced in region. Had acquired my target market shares - so not monitoring the daily prices in the next 3yrs.
feeling excited, but its a few years away to commencement of operations in Vietnam. Do note that Asiatic has only a 51% stake in this.
| Written by The Edge Singapore |
| Monday, 13 July 2009 21:30 |
|
Colben Energy Holdings (Vietnam), a wholly-owned unit of Asiatic Group (Holdings), will join two new partners to continue the rollout of its hydroelectric power plant project in Vietnam which was first announced last year.
Colben will link up with Vietnam Infrastructure Development and Finance Investment JSC (VIDIFI) and HVD Construction and Investment Consultants JSC (HVD) to jointly develop, design, build, own and operate the plant. The 44MW project will be completed in two phases, with 33MW of capacity coming onstream under Phase 1 and the remaining 11MW under Phase 2.
VIDIFI and HVD will be taking over as Colben’s new local partners, replacing the two companies originally slated to take up stakes in the special-purpose company – Colben Energy (Vietnam) Joint Stock Company (CEVJSC) – established to undertake the project, as announced previously on July 22, 2008.
Under the new joint venture, VIDIFI shall own 30% of CEVJSC and HVD, 19%. Colben’s stake will remain unchanged at 51%, held through its subsidiary, Colben Energy Holdings (Vietnam).
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Colben Energy Holdings (Vietnam), a wholly-owned unit of Asiatic Group (Holdings), will join two new partners to continue the rollout of its hydroelectric power plant project in Vietnam which was first announced last year.
Colben will link up with Vietnam Infrastructure Development and Finance Investment JSC (VIDIFI) and HVD Construction and Investment Consultants JSC (HVD) to jointly develop, design, build, own and operate the plant. The 44MW project will be completed in two phases, with 33MW of capacity coming onstream under Phase 1 and the remaining 11MW under Phase 2.
VIDIFI and HVD will be taking over as Colben’s new local partners, replacing the two companies originally slated to take up stakes in the special-purpose company – Colben Energy (Vietnam) Joint Stock Company (CEVJSC) – established to undertake the project, as announced previously on July 22, 2008.
Under the new joint venture, VIDIFI shall own 30% of CEVJSC and HVD, 19%. Colben’s stake will remain unchanged at 51%, held through its subsidiary, Colben Energy Holdings (Vietnam).
Last Updated on Monday, 13 July 2009 21:31
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| Last Updated on Monday, 13 July 2009 21:31 |
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| Last Updated on Monday, 13 July 2009 21:31 |
More good news !!! Hooray !
��
Latest partnership with two of country’s leading groups will provide ample backing and resources for successful completion
��
44MW project is Group’s first green energy venture and single largest power supply undertaking to date
�� Venture also marks Group’s first energy foray outside Cambodia and will advance its plans to become major player in this sector across Asia
Asiatic enters strong new alliance to further its hydro-power project in Vietnam
Got the Annual Report by post today. There is still hope for the 44MW hydroplant project in Lao Cai province - as mentioned in Chairman's message. The theme for F2010 is Harnessing Renewable Energy...so it is indeed good prospects.
Oh, good news. Still can secure financing. Good prospects.
NOTICE IS HEREBY GIVEN that the Annual General Meeting of ASIATIC GROUP (HOLDINGS) LIMITED (“the Company”) will be held at REPUBLIC OF
SINGAPORE YACHT CLUB, 52 West Coast Ferry Road, Singapore 126887 on Wednesday, 22 July 2009 at 10.00 am, for the following purposes:
yeap.. news frm The Edge:-
Asiatic Group (Holdings) has secured a US$20 million ($29 million)
financing facility through its subsidiary, Colben Energy Holdings
(PPSEZ), to finance the construction and operation of its 20MW power
project in the Phnom Penh Special Economic Zone (PPSEZ), Cambodia.
The financing facility was signed with a consortium of financial
institutions including ASEAN Finance Corporation, Cambodia Mekong Bank
Public, Maybank International, Krung Thai Bank Public Company,
Singapore Banking Corporation and United Overseas Bank.
The US$20 million financing facility comprises two tranches. The
first tranche of US$16 million will be used to complete the power
project up to the stage where it can provide a total operational
capacity of about 15MW. The remaining US$4 million will go towards
funding further capacity expansion to increase the operational capacity
to about 20MW.
Terence, good news. Do you know when is the AGM ? Last year was on 25 Jul 09.
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