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ASIATIC Grp - for financial closure of the 12.5MW Biomass Power Plant Project in Teluk Intan, Perak, M'sia
MJE is the JV co between MJEH and its local partners being Tekun Positif (M) Sdn Bhd. Tan Guan Hua Sdn Bhd and Wealthy Entity Holdings Sdn Bhd that has previously signed a Renewable Power Purchase Agreement with Tenaga Nasional Bhd for a concession period of 21 years.
As part of the development of the project, MJE has since completed the detail design and engineering aspects, and with this successful financial closure, shall begin the site construction and erection activities towards a targeted completion in the end of 2013.
“We have come a long way since the early days of the project, and this signing of the loan agreement for the Islamic Banking Facilities represents the confidence of Maybank in the project and in the ability of the company to achieve ad deliver its business objectives“, said Tn. Hj. Osman Bin Mohd, Chairman of MJE.
Moving forward, exploring renewable projects in China, trading CER, expansion and financing will be the focus. Harnessing shareholders value is important to make the company business attractive to investors
Over 35 years of project finance/power related experience. Began career in the US independent power market spent the last 17 years in Asia 7 based in Beijing, China. Entrepreneurial mindset started and, as CEO managed one of most successful internationally owned energy efficiency companies with assets in China. Company identified, financed,acquired and managed 10 joint ventures/$200 million in assets over 8 year period. Hands on approach to management. Benefits shared among all stakeholders. Successfully sold company in 2006.
Currently CEO of the Lakewood Capital Group, Inc. which offers consulting and advisory services to international investors looking to (i) invest or expand operations in China (ii) develop and market products/services into the China clean/renewable energy space.
Company also works with Chinese clean/renewable energy companies in developing strategies to allow them to expand their overseas markets.
As well, CEO of Lakewood Carbon developer of carbon reduction related projects in China primary buyer of CERs
Specialties
Project finance and corporate structuring venture start-up/management to international standards in a multi-cultural setting project development/acquisition cross border M& A strategic planning creating value added solutions to all stakeholders.
Co-Founder and CEO
Lakewood Carbon Corp.
January 2008 – Present (4 years 5 months)
Lakewood Carbon is a primary buyer of Carbon Emission Reduction certificates from China. Working with its local partner, Beijing Uniufa Energy Technology Company, Lakewood Carbon develops projects with the goal of on-selling the CERs to European/Asian buyers. The company has signed over 20 projects and has in excess of 1 million CERs/year in various stages of development. The company develops both individual projects as well as programs of activity (POA).
Founder and CEO
The Lakewood Capital Group, Inc.
2005 – Present (7 years)
Headquartered in Beijing. Consulting and advisory services related to clean and renewable energy. With international companies,represent both investors interested in investing in China as well as vendors looking to access the Chinese market. Also work with companies in China looking to partner with international investors. For investments, provide identification due diligence help with acquisition asset management. For vendors, develop strategy for market access identification of potential partners and roll-out strategies.
President and Chief Executive Officer
Peak Pacific Investment Company
January 1996 – January 2005 (9 years 1 month)
Directly involved in growing the company from start-up to one of
the most successful foreign IPPs in China. Success based on belief
in core values employee share ownership focus localization.
Business model built on acquisitions not construction extensive in-
house due diligence reliance on fundamental economics rather
than contracts local relationships efficiency gains in-country
borrowing flat organization and strict financial controls. Systems
in-place to allow easy scale-up including Oracle financial modules
at all joint ventures monthly financial, environmental and legal
reporting performance management system. Investors included Energy Investors Funds John Hancock and Alliant Energy (USA).
President and Chief Executive Officer
Peak Pacific Energy Ventures
January 1994 – January 1996 (2 years 1 month)
Founder of the Company
Conceived and planned an Asian based development company
focused on small modular fossil fuel fired electric generating
stations. Funded the start up of the company from personal
resources. Wrote business plan and commenced operations in
Philippines and China. Negotiated sale of a portion of company
shareholding to U.S. Investor group to acquire working and
development capital. Identified and recruited staff to provide
superior levels of capability with a wide range of experience.
Identified and directed Peak Pacific's entry in the India market
during late 1995.
Personally led an innovative development program in New Zealand
during 1996, which involved re-commissioning of a mothballed
facility to provide new grid security products and sell into newly
deregulated market.
During 1996 formed a wholly owned subsidiary sold majority of shares to incoming
investors and assumed CEO title within that company. Peak Pacific
Energy Ventures is current a holding company, maintaining an
ownership in PPIC.
Managing Director
Cogentrix of Asia Pte Ltd (Singapore)
January 1993 – January 1994 (1 year 1 month)
Responsible for the start-up of Cogentrix first overseas office.
Primary responsibilities included strategic analysis of the region to
target resources, market identification, development and growth.
Initial focus was on the development of a 1000 MW USD1.3
billion project five (5) projects that were identified in China.
The Power Purchase Agreement for the Mangalore project was
signed in September 1994 and was the largest such contract signed in India up until that time.
President
Cogentrix Development Company
More good news coming...
http://info.sgx.com/webcorannc.nsf/AnnouncementToday/74C3F36F961ED9B548257A0F0040E7B5?opendocument
Date of appointment - 1st June 2012. Appointment as Chief Operating Officer (" COO" ) of the Group.
Robert W. Anderson, Jr. 60, COO will primarily be responsible for operations, controls, overseeing new and on-going projects which are now in the midst of implementation and construction. Past working experience...
CEO, Peak Pacific Investment Company (1994-2005)
CEO, The Lakewood Capital Group, Inc. (2005-2012)
CEO, The Lakewood Carbon Corp. (2008-2012)
The Company and PPSEZ have entered into a settlement agreement (“Settlement Agreement”) to resolve all ongoing disputes (“Disputes”) pertaining to the power plant project in the Phnom Penh Special Economic Zone (“Zone”). In accordance with the terms of the Settlement Agreement:-
(i) PPSEZ shall withdraw the three arbitration proceedings initiated against the Company's subsidiaries, namely, Colben System Pte Ltd, Colben Energy Holdings (PPSEZ) Limited and Colben Energy (Cambodia) PPSEZ Limited (“CEZ”).
(ii) PPSEZ shall also withdraw all court proceedings commenced against the Company and/or its affiliates whether in Cambodia or elsewhere and both PPSEZ and the Company agree that we will refrain from commencing any further proceeding against the other in respect of the Disputes.
(iii)
CEZ shall remain the exclusive supplier of all power requirements in the Zone for so long as CEZ continues operating in the Zone. In this regard, CEZ shall be supplying power directly to PPSEZ’s existing and future customers located in the Zone as well as for PPSEZ’s own consumption.
(iv) In settlement of the amt due from PPSEZ under the Power Purchase Agreement dated 10 June 2008, PPSEZ shall transfer to CEZ free of any encumbrances all of the existing transmission and distribution lines, and related equipment which are owned by PPSEZ in the Zone as well as all such easements,
licenses, construction contracts and any other agreements necessary to construct such transmission and distribution lines, sub-stations and all related equipment relating to the distribution of power to existing and future customers in the Zone and the corresponding land.
The Board views entering into the Settlement Agreement as a positive (+ve) development which enables
parties to move towards a long-term resolution.
teeth53 thot: Even though is not easy to operate in a familiar but volatile environment. Asiatic Grp is now in stronger position to grow, manage it power program in PPSEZ (Cambodia). Like wise venturing into Myanmar.
Will it venture further when condition is right. (Yes. I think so). Happi Trading.
Seldom trading halt in past years -- even for the hydroplants and rights issue annoucement. Must be something of significance and material. Hope it is good news to bring the company forward...
Don know good or bad??...think it sort of good news rather then bad.
12-04-2012. SGX announcements. Brian Chang Holdings (S) Pte Ltd.
Getting better. Great in did, there is certain bright spot (expertise in marine and offshore experience).
- Singapore based industrialist.
- Forty years in offshore engineering, manufacturing and operation.
- Director of CIMC Raffles.
- TSC Corp.
- Bergen Group – Shipyard and offshore engineering.
Is this the man Brain Chang Holdings ? Our new Substantial Shareholder ? Forbes Top 40 richest singaporean ?
Executive Profile Brian Chang Founder and Executive Vice Chairman, CIMC Raffles Offshore (Singapore) Ltd. Age Total Calculated Compensation This person is connected to 4 Board Members in 4 different organizations across 4 different industries. See Board Relationships 68 -- Background Mr. Brian Chang founded CIMC Raffles Offshore (Singapore) Ltd., (formerly Yantai Raffles Shipyard Limited) in 1994 and served as its Chief Executive Officer. Mr. Chang has been in the ship building industry since 1967. He serves as Executive Vice Chairman at CIMC Raffles Offshore (Singapore) Ltd and served as its Deputy Chairman. He founded Promet Pte Ltd in Singapore in 1971. (known today as PPL Shipyard). He has 40 years of experience in the shipbuilding industry, ... he pioneered the construction of Singapore's first jack-up drilling rig at Keppel FELS Limited (formerly known as Far East Levingston Shipbuidling Limited). His career started with Vosper Thorneycroft in Singapore. He served as an Executive Chairman of Yantai Raffles Shipyard Pte Ltd. until November 2008. Mr. Chang served as the Chairman of the Board of Promet Group. He has been Executive Deputy Chairman of Yantai Raffles Shipyard Limited since November 2008. He has been Director of Bergen Group since December 13, 2010. He has been Independent non-executive Director of TSC Group Holdings Limited since July 2009. Mr. Chang received a Scholarship for an Honors degree in Electrical Engineering at the City University, London and graduated in 1965. Read Full Background
Think abit of good news (not so bad). Since this old news and only two passive investors of father and daughter team, prices has more then stablize. For trade investment purpose - SAsiatic future may hold some bright spot.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_C3B535878FB2EE45482579BF00447B71/$file/AGH-Ann-20120312-Proposed_Placement.pdf?openelement
The Board of Directors of Asiatic Group (Holdings ) Limited (the “Company”) wishes to announce
that the Company has on 12 March 2012 entered into a Subscription Agreement (the “Subscription
Agreement”) with a placee, Brian Chang Holdings (S) Pte Ltd (the “Placee”), pursuant to which the
Placee has agreed to subscribe for a total of 44,108,886 new ordinary shares (the “Placement
Shares”) at S$0.065 (the “Placement Price”) for each Placement Share.
Priced @S$0.065 each, a 10.2% premium to the vol-weighted average trading price of S$0.059 per share for trades done on the S/pore Exch Securities Trading Ltd (“SGX-ST”) for the full mkt day on 12 Mar 2012.
Placee Co incorporated in S'pore whose principal activity is investment holding. Two shareholders of the Placee, each holding a 50% equity interest, are Brian Chang and Tracy Chang. Brian Chang and Tracy Chang are father and daughter. They are also the two directors of the Placee.
The Co decided on the Share Placement after the Placee approached the Co indicating their interest in acquiring Shares in the Co and that the Co’s investment in energy related project appealed to them.
Placement Shares, when issued and fully paid, will rank pari passu in all respects with the existing shares issued share capital of the Co, except that they will not rank for any dividends, rights, allotments or other distributions, accruing on a record date which falls on or before date of the completion of the Share Placement.
Purpose of Share Placement is to allow the Co to raise net proceeds of approximately S$2.8 mil (less expenses amounting to approximately S$70,000). The Placement is being made to the Placee, a passive investor.
Good or bad....Proposed placement of 44,108,886 new ordinary shares - Listing and Quotation Notice
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5475F5D8434AC4A9482579D7004B85CC/$file/AGH-Ann-20120405-LQ_Notice.pdf?openelement
announcement made on 12 March 2012 in relation to 44,108,886 NEW ORDINARY SHARES (“PLACEMENT SHARES”) at AN ISSUE PRICE OF S$0.065 FOR EACH NEW SHARE.
Placement Shares must be placed out within 7 market days from 5 April 2012, being the date of
the listing and quotation notice.
What all this mean..??.TQs
Comatosh player...doing some collection first...?
See what I mean...one lot can dammed it lower to .070c.
See what i mean.....one lot can play havoc at 0.075c, while unless BBs chose to play up...
teeth53 ( Date: 18-Mar-2011 09:15) Posted:
Asiatic--Show no sign of life...in comatosh stage, has been drop from 17c.
Look cheap, then cheap can cheaper,...some bot a 7.5c, others bot at 0.080c |
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Asiatic--Show no sign of life...in comatosh stage, has been drop from 17c.
Look cheap, then cheap can cheaper,...some bot a 7.5c, others bot at 0.080c
Legal works on Kemaman Biomass Plant project should complete by 28 Feb 11.
Cambodia PPSEZ 2nd phase started one year ahead of schedule due to phase 1 taken up -- will see stable revenue stream.
1. Chu-Linh Coc-San hydroplant in construction.
2. Maju Intan Biomass Plant in construction.
Ahh, at last it move one step liao.
Asiatic-AGM-ADVERT-FINAL-20120712.pdf