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          EGCO Group revealed 13,059-million-baht net profit for 2019, an increase of 89% from the previous year. It also announced to pay dividend of the second half at 3.25 baht on April 23, 2020 contributing to the net dividend in 2019 at 6.50 baht.

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          Dr. Gumpanart Bumroonggit, Senior Executive Vice President – Strategy & Asset Management and Acting President of EGCO Group announced the 2019 corporate performance during Analyst Meeting on March 6, 2020. Its profit before the effects of foreign exchange and deferred income tax was 10,368 million baht, increasing from the last year by 1,173 million baht or 12.76%, while the 2019 net profit was 13,059 million baht, an increase by 6,163 million baht or 89% from the previous year.

          The company’s outstanding performance in 2019 included the completion of power project construction which started their commercial operations as scheduled, power generating business, and energy-related business expansion. The 2 power projects that completed as planned are San Buenaventura coal-fired power plant in the Philippines which started its commercial operations on September 26, 2019 and the Xayaburi hydropower plant in Lao PDR which started commercial operations on October 29, 2019.

          The company’s power business investment in 2019 included 2 projects that are the 19.80 MW Gangdong fuel cell power project in South Korea through Paju Energy Service Co., Ltd. in which EGCO holds 49% stake and Share Purchase Agreement for 25% investment in 640 MW Yunlin offshore wind farm project in Taiwan. Moreover, EGCO invested in an energy-related business project by acquiring 44.60% stake in Thai Pipeline Network Co., Ltd., operating the Oil Pipeline Extension to Northeastern Region.

          Currently, EGCO Group has three projects under construction. 1) The fuel-cell “Gangdong” power project in South Korea is currently 82.45% completed and is scheduled for commercial operation in the 4th quarter of 2020. 2) The “Nam Theun 1” hydropower project in Lao PDR is currently 66% completed and scheduled for commercial operation in the 2nd quarter of 2022. 3) The Oil Pipeline Extension to Northeastern Region project is 22.15% completed and will start commercial operation in the 4th quarter of 2021.

          The resolution of the Board of Directors’ meeting is to propose to the 2020 Annual General Meeting to pay dividend of the second half of 2019 at 3.25 baht on April 23, 2020 contributing to the net dividend in 2019 at 6.50 baht when approved.