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Asiatic Scores in Cambodia with another $14 million of contracts to extend existing 15MW production with another 5MW.
Accrued power shortage in Cambodia with increasing participation by
Independent Power Producers (?IPPs?) in electricity generation
emerging power boom
Asiatic as one of the leading IPPs in Cambodia poised to leverage on the
Singapore, 15 January 2008
the ?
additional power supply contract worth approximately S$14 million through its wholly-owned
subsidiary Colben System Pte Ltd (?
The additional power supply agreement will involve increasing the existing 15MW contracted
capacity by 5MW and is on top of the existing 10-year power purchase agreement (?
entered into with Electricite Du Cambodge (?
of generating, transmitting and distributing electricity throughout Cambodia) on 1
2005. The increased 5MW capacity to be added on to the Group?s existing power plant at
Sihanoukville, Cambodia shall have a supply period for the balance of the duration of the
PPA, and shall enjoy the minimum off-take purchase of electricity based on 80% of its
capacity. The additional agreement comprised a fuel component and a non-fuel component.
The value of the non-fuel component is estimated to be worth about S$14 million over the
balance of the duration of the existing PPA while the fuel component is passed on to EDC.
? Asiatic Group (Holdings) Limited, (?Asiatic?, ?亚洲集团? orGroup?), an emerging player in the regional energy and power industry, has secured anColben?).PPA?)EDC?, a wholly state-owned company in chargest June
Asiatic Group (Holdings) Limited
65 Joo Koon Circle
Singapore 629078
Tel: (65) 6863 0188 Fax: (65) 6897 9200
The additional investment cost for the 5MW increase in capacity is about S$6 million, which
will be funded through a combination of internal resources and project financing. The new
capacity is scheduled to commence commercial operations in about 6 months? time and is
not expected to have a material impact on the Group?s earnings for the financial year ending
31
st March 2008.
?We are pleased to build on our existing success in Cambodia to further enhance our
presence in the regional power industry. The contract for additional capacity is a
testament to our capabilities as an Independent Power Producer and our expertise in
power projects management. With the increased economy of scale reaped from the
additional capacity, we will be able to operate on a more competitive structure and
further capitalise on the rising electricity demand in Cambodia.?
Mr George Tan
Managing Director, Asiatic Group
Cambodia is currently facing a shortage of energy with less than half of the households
having access to electricity. According to the Power Development Plan of Cambodia,
electricity generation is projected to grow from 329MW and 1,548 GWh in 2006 to 1,539 MW
and 8,176 GWh in year 2020 to meet the rising demand.
will involve attracting private sector investment or Independent Power Producers (?
well as importing energy from neighbouring countries such as Vietnam. The recent years
have also seen IPPs taking on an increasingly important role in the power generation
industry in Cambodia with their share of power generated rising from 55% in 2004 to 67% in
2005.
emerging energy boom in the region.
1 The growth in electricity generationIPPs?) as1 Being one of the leading IPPs in Cambodia, Asiatic is poised to capitalise on the
About Asiatic Group (Holdings) Limited
An engineering management specialist, Asiatic Group plays a pivotal role in the development of
Energy, Controlled Power and Fire Protection Systems. Today, Asiatic Group operates in the niche
areas of:
1) Energy
(operation and maintenance) contractor, provides Planning and Development services and
participates as an Equity Investor in niche power plant projects in the region. The Group
currently operates power plants in Sihanoukville and Phnom Penh, in Cambodia and is in the
process of building another power plant at the Phnom Penh Special Economic Zone.
, where it operates as an EPC (engineering, procurement and construction) and O&M
2) Controlled Power Solutions
safeguard vital data and processes in their operations and to ensure business continuity.
, where it supports the power requirements of industries to
3) Fire Protection
Employing over 100 people, Asiatic Group has operations in Singapore, Malaysia, Thailand,
Cambodia and the People?s Republic of China.
, where it provides total fire protection solutions.
Wow, you got at 10.5? I sold off last time when it was close to 60, but now i am back with 50 lots, but was earlier, so got it at 13.5 cents. Anyway, will update you when i have news. Wonder what are they going to do in Vietnam....
Terence,
I did not follow this stock for a while. Still got 260lots plus given warrant in CPF. Got 500lots at 10.5cts cash. Please keep posting. Thks.
Hmm...check with SGX, the office has indeed been set up. Look out for projects in Vietnam. This stock is sure to benefit from Vietnam's booming economy, plus already benefiting from power generation projects in Cambodia.
Just a reminder that this stock is still undervalued...yet to realise potential in Vietnam, heard they already set up office there. Fastest growing economy in Asia.
Vested.
Another cheap energy stock, half year results very good. Will improve further when 3rd power plant begins operations in the next six months.
Vested.
Flower,
from CDP standard procedure, which says 14D from right closing date (24Aug) , so it means the rights conversion date is around Sept 7. But this is standard procedure and actual can change a bit..
if you are vested you should check your CDP statement around Sept 6,7. or read announcement from sgx.
Usually when the New Mother share start trading, the ticker will change.
hi tian di,
do u know when the rights will turn to mother share?
has the rights turn to mother share?
no statement from cdp...
how is it to buy this counter now, quite cheap. Advice needed.
Terence,
Hope to see the stock price creeps up gradually after the rights shares issued. Yr view, pls.
thanks tiandi so much.
i will call up cdp tmr.
Hi Flower,
You might be dealing Rights for the first time thus very puzzled.
Once you get first time lesson correct, future will be very simple so
excuse me for a longer post, which focus on CDP procedure.
From your price 67 cents, I assume you bought on 1
Aug or before. From the sgx announment below, the Books Closure Date is
6Aug. Rights trading period is 10Aug-20Aug. That means the
nil-PAID Rights shares (Asiatic R, ticker 5KS, you have NOT yet paid for them) would already been credited into your CDP account because tomorrow the market will start trading Rights Shares until 20Aug.
You should check your CDP statement and ensure you have the 40000 Asiatic R credited in your CDP account.
You could logon to CDP online website if you are already have the
access, if not it is wise to apply this free service and get quick
access in the future on your share dealing. Else you can call CDP
hotline
CDP Phone @6535 7511 to check but be prepare for very long wait...
Here is a link to get CDP internet access
http://www.cdp.com.sg/main/index.shtml
Next, you expect CDP to send on 10Aug a big
envelop containing prospectus and Form A (they called this
ARE,
Application for for Rights Shares and excess Rights Shares issued to
Entitled Depositors). You should receive on 11Aug
or 13Aug, if not please call CDP
to check since this documents are
required for you to read and determine your actions. For whatever
action you determined you should follow the procedure. Says you simply
want to subscribe all your Rights share thus convert them to mother share, then you need to
follow the procedure in the prospectus to fill Form A, signed, enclose payment (
Cashier's Order or Banker's Draft) or whatever stated in the Prospectus
and send then in their special envelop to CDP and
ensure arrive not
later than 4.45pm (this was from another old issue, your actual time is
in the prospectus)
on 24Aug, which is the Right Closing Date as
announced ( or called LD in the attachment below)
CDP would take about two weeks or 14 calendar days to process ARE,
and around
7 Sep you should check CDP statement again to ensure your
40000 Rights shares are converted into mother shares so now you have
total of 60000 shares, wow!!. Listed below is the CDP standard Schedule
for Rights shares..for your reading pleasure.
| Ex-date | 02 Aug 2007 |
| Buy-In Last Cum Date | 07 Aug 2007 |
| Record Date | 06 Aug 2007 |
| Rights Closing Date | 24 Aug 2007 |
| Rights Trading Period | From 10 Aug 2007 To 20 Aug 2007 |
Last updated on 08/09/2007 03:00:37 AM
Notes
BCD + 3 is also the day CDP despatches the following to relevant shareholders:
Form A (Application Form for Rights Shares and Excess Rights Shares)
Rights Prospectus
hi
i bought 20,000 shares @ 0.67.
when can i get the rights?
very puzzled.
people is buying into the future... something which we do not know. What is the target price ? Need to realise my profit of 40k.
A Raging Bull on the charge!
Asiatic is already fully valued. Even if your expectation is 5 cents eps per year (current is 2.6 cents), P/E is 13.4 times. Price/NTA is 2.57x.
Terence, what is the realistic TP ? keep moving up...
If the bonds are subscribed, they can repay all their borrowings.
Terence,
Thanks. Logically, no dividend this year as it has rewarded shareholders in the form of rights and warrants issues.
