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          The Electricity Generating Public Company Limited (EGCO) announced the 2018 net profit of 21,073 million baht and expected dividend of the second half at 3.50 baht, while EGCO’s business plan in 2019 includes electricity business expansion and new investment in related business in Asia Pacific.

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          On February 28, 2019, Mr. Jakgrich Pibulpairoj, President of EGCO Group announced the 2018 corporate performance during Analyst’s Briefing Meeting at Sofitel Hotel, Bangkok. The performance in 2018 was better than the target as the net profit was 21,073 million baht, an increase by 9,255 million or 78% compared to the previous year, while the company’s operating profit was 23,372 million baht, an increase by 14,104 million or 152%. The main drive was the profit from asset sales accounting for 14,177 million baht, namely selling all shares held in Eastern Water Resources Development and Management (EASTW), GIDEC Co.,Ltd, and Masinloc Power Partners Co.,Ltd. (MPPCL), while the normal operating profit was 9,195 million baht, a decrease by 73 million baht. The company’s Board of Directors agreed to propose in the annual shareholder meeting of 2019 to pay dividend of the second half of the year 2018 at 3.50 baht/share, while special dividend from asset sales will be 2.50 baht/share. If approved, the company will pay the dividend throughout 2018 with the rate 9.50 baht/share.

          The company’s outstanding performance in 2018 included investment in Paju Energy Service Co.,Ltd., the owner of 1,823 MW Paju Combined Cycle Power Plant in South Korea, with the share of 49%. For this investment, the company partnered with SK E&S Co.,Ltd. that is an expert in LNG business. Thus, apart from expanding the business to the new area in Asia Pacific, it was an opportunity for cooperation in LNG business. The share sale was completed on January 15, 2019.

          “Since EGCO Group realizes that the growth of Thai electricity industry is limited, the company focuses on expanding investment overseas, namely Lao PDR, the Philippines, Indonesia and other countries in Asia Pacific, such as South Korea. Moreover, EGCO Group seeks to invest in a new related business like LNG by cooperating with the partner, SK E&S Co.,Ltd. However, for investment in Thailand, EGCO Group is ready to serve the Government policy and follows the Power Development Plan (PDP2018), especially the investment in IPP projects in which the company prepares to join the bidding in every region including Western, Southern, and Eastern Thailand,” said Mr. Jakgrich.

          In 2019, EGCO prepares 30,000 million baht of investment budget for buying shares of Paju Power Plant in South Korea and 3 projects which are now in construction process with the total capacity in power purchase agreement and share ratio of 544 MW, which are comprised of 160 MW Xayaburi Power Plant in Lao PDR, 223 MW San Buana Ventura Power Plant in the Philippines. These two projects will be completed and start commercial operation in 2019. The other project is 161 MW Nam Theun 1 in Lao PDR that will be completed and start commercial operation in 2022.