EGCO Group is preparing to close deals for the acquisition of two overseas power plants in the Asia-Pacific region, with a total investment budget of 15 billion baht. These deals are expected to be finalized within 2019 and include one operational power plant and one new development (greenfield) project.
This investment will increase EGCO Group's total investment budget for 2019 to 45 billion baht, up from the original 30 billion baht. The initial 30 billion baht is allocated for three projects currently under construction: the Xayaburi and Nam Theun 1 power plants in Laos, and the San Buenaventura power plant in the Philippines. This also includes the acquisition of shares in the Paju power plant in South Korea, which was completed on January 15, 2019.
Mr. Jakgrich Pibulpholkul, President, revealed that the company's strategy focuses on generating 5-6% profit per year. This year, profits will be recognized from two new power plants, the Paju power plant, and the acquired power plants.
For the 2018 operating results, EGCO Group reported a net profit of 21,073 million baht, an increase of 78% from the previous year, and an operating profit of 23,372 million baht, an increase of 152%, due to the sale of shares in Eastern Water Resources Development and Management Public Company Limited, G-DEK Co., Ltd., and Masinloc Power Partners Co., Ltd.
The Board of Directors resolved to propose a dividend payment for the second half of 2018 at a rate of 3.50 baht per share, bringing the total dividend for the entire year 2018 to 9.50 baht per share.
