BANGKOK, May 18 (Reuters) - Thai telecoms group Samart Corp PCL may increase its investment in an electricity project in Cambodia and expected to conclude the details by next month, a source close to the deal said on Thursday.
The investment could cost as much as 10 billion baht ($270 million) in the first year as the Cambodian government wanted Samart to double the plant's capacity to 200 megawatts, the source told Reuters.
Samart, nearly 20-percent owned by Telekom Malaysia , would seek partners to invest in the project, which would sell electricity to the Cambodian government, he said.
"Partners may hold a stake of about 40 percent in the project. Several investors from Singapore and Malaysia are keen to join," said the source, who declined to be identified.
Construction of the power plant was expected to begin later this year to supply electricity in 2009, he said.
Samart has said it would spend $150 million to build a 100-MW power plant in Cambodia.
Last month, the company said it would invest 850 million baht ($22 million) to build another, 23-MW power plant in Cambodia to supply a plant of Siam Cement PCL there.
Samart operates telecoms-related services ranging from systems installation, Internet services and mobile phone distribution to providing information via electronics systems.
It also operates mobile phone services and an air-traffic control system in Cambodia, while its Samart I-Mobile distributes handsets in Malaysia, Vietnam and Sri Lanka.
The firm has said it will co-operate more with Telekom Malaysia, especially in opening more shops in neighbouring countries to sell mobile handsets to cope with increased competition in the domestic industry.
Samart, founded by the Vilailuck family as a small television antenna shop five decades ago, marked a turnaround in 2003 after restructuring debt in the wake of the 1997/1998 Asian economic crisis.
At 0926 GMT, Samart shares were down 2.3 percent at 8.30 baht, while the overall Thai stock market was 1.9 percent lower. ($1=38.20 Baht)
The investment could cost as much as 10 billion baht ($270 million) in the first year as the Cambodian government wanted Samart to double the plant's capacity to 200 megawatts, the source told Reuters.
Samart, nearly 20-percent owned by Telekom Malaysia , would seek partners to invest in the project, which would sell electricity to the Cambodian government, he said.
"Partners may hold a stake of about 40 percent in the project. Several investors from Singapore and Malaysia are keen to join," said the source, who declined to be identified.
Construction of the power plant was expected to begin later this year to supply electricity in 2009, he said.
Samart has said it would spend $150 million to build a 100-MW power plant in Cambodia.
Last month, the company said it would invest 850 million baht ($22 million) to build another, 23-MW power plant in Cambodia to supply a plant of Siam Cement PCL there.
Samart operates telecoms-related services ranging from systems installation, Internet services and mobile phone distribution to providing information via electronics systems.
It also operates mobile phone services and an air-traffic control system in Cambodia, while its Samart I-Mobile distributes handsets in Malaysia, Vietnam and Sri Lanka.
The firm has said it will co-operate more with Telekom Malaysia, especially in opening more shops in neighbouring countries to sell mobile handsets to cope with increased competition in the domestic industry.
Samart, founded by the Vilailuck family as a small television antenna shop five decades ago, marked a turnaround in 2003 after restructuring debt in the wake of the 1997/1998 Asian economic crisis.
At 0926 GMT, Samart shares were down 2.3 percent at 8.30 baht, while the overall Thai stock market was 1.9 percent lower. ($1=38.20 Baht)
1 comment:
If the Thai investors have their way and they want to own 100% of everything in Cambodia and make Cambodian people as their f..ck slaves! I willing to bet that the Thai investors will own at least 80% to 90% and they enjoy the profit for 90years! ahahah. I told you, AH HUN SEN with his Phd is helping Cambodian people economically!ahahah
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