RATCH Group Public Company Limited or RATCH announced its operating performance for the first quarter of 2019 with the net profit of 1,741.26 million baht.

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          Mr. Kijja Sripatthangkura, Chief Executive Officer of RATCH Group, revealed the operating performance for the first quarter of 2019 during the Analyst Meeting on May 31, 2019 that its profit before gains/losses on foreign exchange and deferred income tax was 1,741.26 million baht, rising 614.70 million baht or 54.60% over the first quarter of 2018. The growth was supported by the increased electricity sales, foreign exchange profits, and higher profit sharing from joint venture companies.

          Recently, RATCH’s Collinsville Solar Power Plant with the capacity of 42 MW located in Australia has commercially operated since March 21, 2019. The electricity produced approximately 70% of the total capacity is sold to Alita Energy Co.,Ltd., while the rest is sold to Australia’s National Energy Market. The Company’s on-going investment project includes the construction of 99.23 MW Berkprai Cogeneration Power Plant in Ratchaburi Province with the commercial operation schedule on June 1, 2019.

          Moreover, the company has established a new subsidiary company Hin Kong Power Holding Company Limited (HKH) of which RATCH wholly owns subsidiary. Thereafter, HKH will prepare to establish Hin Kong Power Company Limited (HKP), which will be fully hold by HKH, within May 2019. The company is also developing 2 power plants with the total capacity of 1,400 MW to strengthen power system security in Western Thailand. They are targeted to commercially supply electricity to the grid in 2024-2025. Currently, the company is in the process of finding the investment partner and negotiating with EGAT on power purchase agreement that is expected to complete in Q2/2019.

          RATCH changed the vision and revised the business strategy to expand electricity business to cover public utility system as a way to support domestic investment according to energy strategy and PDP 2018. The target in 2023 is to increase the share of public utility investment to 20% from the current share of 10%. The company also sees the investment opportunity in other businesses including Telecommunications, Internet of Things, and Smart City.