Sunday, 25 May 2008
By Marina Emmanuel
CAMBODIA will continue to be the focus of Leader Universal Holding Bhd's power generation business as the Penang-based company looks to clinch downstream power-related jobs there.
Managing director and chief executive officer Sean C.H. H'ng said the company is eyeing power distribution and transmission activities in Cambodia where it has been present for more than a decade.
"We are also still pursuing our plan to list our power generation business but the timing is now uncertain, given the fact that the regional equity market is not performing well currently," he told reporters after the company's annual shareholders' meeting in Penang yesterday.
Last year, LUH had announced plans to float its power generation business and was targetting to do so by the middle of this year. It was mulling a listing in either Singapore, Hong Kong or Dubai.
Apart from power generation, Leader makes and sells cables and wires for the power and telecommunication industries. It also develops properties.
The company, via 60 per cent-owned Cambodian Utilities Pte Ltd, is the first independent power producer (IPP) in Cambodia, where it began operations in 1996.
Last year, Leader won a bid to develop its second power plant, a 200 megawatt (MW) coal-fired plant which will be located in the port town of Sihanoukville.
Leader and its Cambodian partner, MKCSS Holdings, has signed a 30- year power purchase agreement.
"With the signing of the power purchase agreement and implementation agreement with the Cambodian authorities, construction works are expected to commence in early 2009, with commercial production targeted to begin in 2012," he added.
(c) 2008 New Straits Times. Provided by ProQuest Information and Learning. All rights Reserved.
Source: New Straits Times
By Marina Emmanuel
CAMBODIA will continue to be the focus of Leader Universal Holding Bhd's power generation business as the Penang-based company looks to clinch downstream power-related jobs there.
Managing director and chief executive officer Sean C.H. H'ng said the company is eyeing power distribution and transmission activities in Cambodia where it has been present for more than a decade.
"We are also still pursuing our plan to list our power generation business but the timing is now uncertain, given the fact that the regional equity market is not performing well currently," he told reporters after the company's annual shareholders' meeting in Penang yesterday.
Last year, LUH had announced plans to float its power generation business and was targetting to do so by the middle of this year. It was mulling a listing in either Singapore, Hong Kong or Dubai.
Apart from power generation, Leader makes and sells cables and wires for the power and telecommunication industries. It also develops properties.
The company, via 60 per cent-owned Cambodian Utilities Pte Ltd, is the first independent power producer (IPP) in Cambodia, where it began operations in 1996.
Last year, Leader won a bid to develop its second power plant, a 200 megawatt (MW) coal-fired plant which will be located in the port town of Sihanoukville.
Leader and its Cambodian partner, MKCSS Holdings, has signed a 30- year power purchase agreement.
"With the signing of the power purchase agreement and implementation agreement with the Cambodian authorities, construction works are expected to commence in early 2009, with commercial production targeted to begin in 2012," he added.
(c) 2008 New Straits Times. Provided by ProQuest Information and Learning. All rights Reserved.
Source: New Straits Times
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