Sembcorp to book $212 million impairment on Chinese coal venture in first-half results
SINGAPORE – Sembcorp Industries will book an impairment expense of $212 million in its first-half financial results, but it expects net profit to remain positive, the company announced before the market opened on Monday (Aug 2).
Gas Malaysia Energy and Services delivers higher value-added services
DESPITE being a relatively new company, Gas Malaysia Energy and Services Sdn Bhd (GMES) consists of a team which has been servicing customers for almost 30 years through its parent company, Gas Malaysia Bhd.
Meralco says retail rates down by 3% in H1
The Manila Electric Co. (Meralco), the Philippines’ largest power distribution utility, said Wednesday its average electricity retail rates in the first half of 2021 dropped by 3% on account of lower charges in generation, transmission, and system loss.
Singapore sovereign fund invests $240m into geothermal DH
In an exciting announcement shared this week, Icelandic Arctic Green Energy and the Government of Singapore Investment Corporation (GIC), a government-owned company assigned to manage Singapore’s sovereign wealth fund, report having set up an ambitious strategic alliance. The goal is to drive the uptake of zero carbon district heating in Europe and Asia. Under the […]
Thailand’s GPSC acquires Taiwan offshore wind stake for US$500 million
Bangkok-listed Global Power Synergy Public Company Limited (GPSC) has acquired a 25% stake in the 595MW Changfang and Xidao (CFXD) offshore wind farms in Taiwan. The Thai company, a subsidiary of state-owned oil and gas group PTT, is paying US$500 million for the shares.
Udenna unit ‘financially ready’ to operate Malampaya project
UDENNA Corp. subsidiary Malampaya Energy XP Pte Ltd. said it is financially prepared to operate the Malampaya project as its pending acquisition of shares in the gas field’s operator Shell Philippines Exploration B.V. (SPEx) was fully underwritten and funded through bank loans.
SPEX to undertake 6-month ‘transition operation’ in Malampaya handover
As it will be handing over the Malampaya gas field venture to a non-technical buyer, Shell Philippines Exploration B. V. (SPEX) indicated that it will be providing a “six-month transition operation” on the facility as part of the handover process to new owner Malampaya Energy XP Pte. Ltd. (MEXP), which is a subsidiary of the […]
PTT acquires 41.6% stake in Indian energy company
Global Power Synergy Plc (GPSC), a power generation arm of Thailand’s national oil and gas conglomerate PTT Group, has paid 14.82 billion baht to acquire a 41.6% stake in Avaada Energy Private Co (Avaada), one of the leading renewable energy companies in India.
