GWR
02-07-08, 02:41 PM
Jati Cakerawala plans to export power to Thailand
By Zaidi Isham Ismail
Published: 2008/07/02
PRIVATELY held Jati Cakerawala Sdn Bhd, which finalised its takeover of an independent power producer (IPP) in Perlis yesterday, expects to offset uncertainties in the local power sector by exporting electricity to Thailand.
Jati Cakerawala, believed to be an Umno-linked company, has acquired 80 per cent of Teknologi Tenaga Perlis Consortium Sdn Bhd (TTPC) for RM716.8 million.
Tenaga Nasional Bhd (TNB) holds the remaining 20 per cent in TTPC.
The acquisition was arranged by AmInvestment Bank Bhd.
Jati Cakerawala managing director and chief executive officer Ti Chee Liang said prospects are good due to the company's power purchase agreement (PPA) to sell power to TNB for the next 17 years.
"Even though there are uncertainties right now over the windfall tax imposed on IPPs, the company is expected to do well over the next 17 years, with as much as half of the power generated sold to Thailand," Ti told reporters in Kuala Lumpur yesterday.
TTPC, which has a 21-year concession agreement, operates a 650MW gas-fired power plant in Perlis and sells it to TNB at a rate of 13 sen per kilowatt hour.
Jati Cakerawala in January bought a 50 per cent stake in TTPC for RM448.1 million, comprising 30 per cent from Alpha Intercontinental Sdn Bhd and 20 per cent from Gerbang Sutera Sdn Bhd.
The acquisition triggered a mandatory general offer for the remaining TTPC shares it did not own.
The company yesterday signed an agreement to acquire another 20 per cent of TTPC from Landmarks Hotels and Realty Sdn Bhd, and 10 per cent from Infostas Engineering Sdn Bhd, for a combined RM268.7 million.
Infostas is owned by the Perlis Islamic Foundation.
http://www.btimes.com.my/Current_News/BTIMES/Wednesday/Nation/JATPER.xml/Article/
By Zaidi Isham Ismail
Published: 2008/07/02
PRIVATELY held Jati Cakerawala Sdn Bhd, which finalised its takeover of an independent power producer (IPP) in Perlis yesterday, expects to offset uncertainties in the local power sector by exporting electricity to Thailand.
Jati Cakerawala, believed to be an Umno-linked company, has acquired 80 per cent of Teknologi Tenaga Perlis Consortium Sdn Bhd (TTPC) for RM716.8 million.
Tenaga Nasional Bhd (TNB) holds the remaining 20 per cent in TTPC.
The acquisition was arranged by AmInvestment Bank Bhd.
Jati Cakerawala managing director and chief executive officer Ti Chee Liang said prospects are good due to the company's power purchase agreement (PPA) to sell power to TNB for the next 17 years.
"Even though there are uncertainties right now over the windfall tax imposed on IPPs, the company is expected to do well over the next 17 years, with as much as half of the power generated sold to Thailand," Ti told reporters in Kuala Lumpur yesterday.
TTPC, which has a 21-year concession agreement, operates a 650MW gas-fired power plant in Perlis and sells it to TNB at a rate of 13 sen per kilowatt hour.
Jati Cakerawala in January bought a 50 per cent stake in TTPC for RM448.1 million, comprising 30 per cent from Alpha Intercontinental Sdn Bhd and 20 per cent from Gerbang Sutera Sdn Bhd.
The acquisition triggered a mandatory general offer for the remaining TTPC shares it did not own.
The company yesterday signed an agreement to acquire another 20 per cent of TTPC from Landmarks Hotels and Realty Sdn Bhd, and 10 per cent from Infostas Engineering Sdn Bhd, for a combined RM268.7 million.
Infostas is owned by the Perlis Islamic Foundation.
http://www.btimes.com.my/Current_News/BTIMES/Wednesday/Nation/JATPER.xml/Article/