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zhuge_liang
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04-May-2007 02:10
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It plans to buy 1-2 renewable energy plants in China every year, banking on the country's drive to curb growing pollution. These plants would either be water or wind powered, Asia Power's Vice-President Tian Aimin told Reuters in an interview. China has come under increasing pressure by the international community to rein in environmental pollution in many of its industries. The government said in March that it will raise renewable energy to 10% of total energy use by 2010, even as it continues to rely on coal for most of its energy needs. Asia Power, founded in 1997, has snapped up stakes in 8 plants across China -- 5 hydropower plants and 3 coal-fired plants -- taking its total generating capacity to 738 megawatts (MW). "Our investment strategy is to acquire power plants that are already running," Tian said, adding that buying and running existing plants rather than building new ones was more profitable. "Within 3 to 5 years, we hope our power generation can be more than 1,000 megawatts," he said. The firm would take a controlling stake in these jvs and fund these acquisitions using either its cash reserves, bank loans or funds raised from the sale of shares, Tian said. Asia Power, with a stock market value of US$88 million competes with China EnerSave which is valued at US$126 million. Hydropower plants have lower operating costs, as they only require 1/5 of the manpower needed to run a coal-fired one, Tian said, adding that the firm does not have to buy fuel for the plant. Tian also said that Asia Power is in talks to buy 1 or 2 wind power plants in the provinces of Heilongjiang and Xinjiang and may conclude those deals by the end of this year. As Asia Power shifts its focus to develop renewable energy, Tian said that the firm plans to sell 2 of its coal-fired power plants -- potentially worth about 400 million yuan (US$52 million) -- within the next 2 years. Tian said that Asia Power does not plan to expand abroad, as it wants to capitalise on the rising need for energy in Asia's fastest-growing economy. "Currently we still see a lot of opportunities to invest in China, so there's no need for us to go out," Tian said. "We are only limited by our size, so what we need is more funds to expand into the China market." In 2006, Asia Power posted a near-doubling of net profit to $19.9 million, on the back of the sale of 2 of its associates. Revenue rose 23.6% to $98.1 million, after the firm recognised sales from its newest hydropower plant. Shares in Asia Power have risen 15% so far this year. |
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zhuge_liang
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21-Feb-2007 23:58
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The Group continues to concentrate on hydropower electricity generation plants as its main engine of growth. As such, Asia Power has invested in a number of hydropower plants in Yunnan, and Sichuan in the second half of FY2006 to increase its market share in PRC. Inaddition, the Group has also disposed of two of its associates Shanghai Witlong Electric Co., Ltd (?Witlong?) and Shenzhen NARI Technologies Co., Ltd.(?Shenzhen Nari?) to divest their auxiliary business activities.
Two of the Group?s hydropower plants, Asia Power (Neijiang) Hydroelectricity Co., Ltd (?Neijiang?) and Anning River, were the main contributing factors to the Group?s high gross profit margin. The Group?s efforts to focus on renewable energy, particularly hydropower electricity generation plants, have yielded very positive results. Neijiang and Anning River, have a significantly higher gross margin than their traditional coal fired power station, Xinbao. Anning River will begin to contribute to our revenue in the next financial year.
Asia Power?s three core businesses are power generation, power related technology and the provision of consultation to and management of power and power-related activities. To date, the Company has invested in a total of eight power plants with a total installation capacity of more than 550MW, two power-related technology companies and two power business consulting companies in strategic cities across China. Currently, four out of Asia Power?s eight power plants are driven by hydropower.
Asia Power?s three core businesses are power generation, power related technology and the provision of consultation to and management of power and power-related activities. To date, the Company has invested in a total of eight power plants with a total installation capacity of more than 550MW, two power-related technology companies and two power business consulting companies in strategic cities across China. Currently, four out of Asia Power?s eight power plants are driven by hydropower.
Two of the Group?s hydropower plants, Asia Power (Neijiang) Hydroelectricity Co., Ltd (?Neijiang?) and Anning River, were the main contributing factors to the Group?s high gross profit margin. The Group?s efforts to focus on renewable energy, particularly hydropower electricity generation plants, have yielded very positive results. Neijiang and Anning River, have a significantly higher gross margin than their traditional coal fired power station, Xinbao. Anning River will begin to contribute to our revenue in the next financial year.
Asia Power?s three core businesses are power generation, power related technology and the provision of consultation to and management of power and power-related activities. To date, the Company has invested in a total of eight power plants with a total installation capacity of more than 550MW, two power-related technology companies and two power business consulting companies in strategic cities across China. Currently, four out of Asia Power?s eight power plants are driven by hydropower.
Asia Power?s three core businesses are power generation, power related technology and the provision of consultation to and management of power and power-related activities. To date, the Company has invested in a total of eight power plants with a total installation capacity of more than 550MW, two power-related technology companies and two power business consulting companies in strategic cities across China. Currently, four out of Asia Power?s eight power plants are driven by hydropower. |
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singaporegal
Supreme |
29-Dec-2006 11:52
Yells: "Female TA nut" |
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Volumes still very bad... |
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zhuge_liang
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29-Dec-2006 00:54
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Has entered into agreement to acquire 30% stake in Sichuan An Ning River Energy Development for RMB85m. This gives the group an aggregate indirect interest of 51% in the hydropower plant. Chuang An Neng commenced operations in Jan '05 and has total installed capacity of 52 MW. It contributed net profit of RMB21m for FY05. |
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Nostradamus
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09-Nov-2006 01:11
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It will buy an equity interest of 51% in a hydroelectric plant in the central Chinese province of Sichuan for 72.83 mln yuan, the company said. Asia Power said it would use internal resources to pay for its stake in the 21 MW plant. It said it had agreed on a framework for cooperation with Chengdu Cable Co Ltd and Sichuan Huaming Energy Development Ltd, the owners of Wenchuan Huaming Power Development Co Ltd, which operates the plant. Asia Power said it would give Chengdu Cable a short-term loan of RMB30 mln, to be repaid by Dec 20, 2007, its return being a fixed 15% of the amount lent. "The company is confident of the growth potential of hydropower electricity generation plants and their contribution to the future prospects of the group," Asia Power said in a written statement. |
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Nostradamus
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20-Sep-2006 17:01
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China Hydroelectric Corp., a Cayman Islands-registered power investor, is seeking to list on London's AIM market through an IPO that could raise US$187m in net proceeds, a prospectus seen on Wednesday showed.
The company plans to offer 34m units at US$6 each, raising US$204m in total before various expenses, including fees to be paid to share placing agents. Each unit consists of one share and two warrants that would trade separately following the listing, the recently-issued preliminary prospectus said. Each of the four-year warrants is exercisable for one share at US$5 each. The share issue, run by investment banks Morgan Joseph and Seymour Pierce, would expand the company's total share capital to 42.5m shares from 8.5m shares, it said. However, a table on the London Stock Exchange's Web site regarding new issues showed the size of the China Hydroelectric offer would be US$104 million. It was unclear whether the information was updated. Company officials were not available for comment. The prospectus said the company's strategy was to acquire hydropower assets and develop new hydropower projects in China, the world's second largest energy market. The company, which has an experienced Sino-American management team, hopes to capitalise on China's strong power demand and opportunities brought about by the government's policy to encourage private investment in the hydropower sector, it said. |
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Nostradamus
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19-Sep-2006 19:10
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OCBC issued a non-rated report. Full report here. |
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singaporegal
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13-Aug-2006 21:25
Yells: "Female TA nut" |
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Terribly low volume counter... not attractive to me. |
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Nostradamus
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13-Aug-2006 21:02
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On 10/8, there was a bearish long black candle. However, the price surge has ensured that the 50-day MA didn't cross below the 100-day MA. The absence of the crossover is a bullish sign. |
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