Leader, Cambodia firm in bid for power plant
BY NICK LEONG
The Star (Malaysia)
PETALING JAYA: Leader Universal Holdings Bhd has entered into a 50:50 joint-venture agreement with a Cambodian company to bid for a project to build-own-operate (BOO) a 200-megawatt (MW) coal-fired power generation plant in Sihanoukville, Cambodia.
In a statement to Bursa Malaysia yesterday, Leader said the joint venture with MKCSS Holdings was in accordance with procedures set by Cambodia's Industry, Mines and Energy Ministry.
If the bid was successful, the project would run for 30 years and the electricity generated would be sold to Electricite du Cambodge (EDC) under a long-term power purchase agreement, it said.
A limited liability joint-venture company would then be set up, with each party becoming shareholders in the equity of the company.
Leader said the bid was in line with the group's plan to expand its power generation business in Cambodia.
It said the Cambodian ministry had invited “among others” Leader and MKCSS to bid for the project on Aug 2. The closing date to submit the bid is Dec 4.
Leader said a technicality and feasibility study on the project had been conducted and completed.
“At this juncture, the total project cost, equity contribution, and project financing details have yet to be finalised between Leader and MKCSS,” it said.
Leader, through its 60%-owned subsidiary in Cambodia, currently owns and operates a 35MW power generation plant in Phnom Penh and sells the electricity to EDC.
In a separate statement to Bursa yesterday, Leader reported a pre-tax profit of RM18.5mil for the third quarter ended Sept 30, an increase of RM4.45mil compared with the same quarter last year.
The company also registered higher revenue of RM688.7mil for the quarter against RM433.61mil previously.
In a statement to Bursa Malaysia yesterday, Leader said the joint venture with MKCSS Holdings was in accordance with procedures set by Cambodia's Industry, Mines and Energy Ministry.
If the bid was successful, the project would run for 30 years and the electricity generated would be sold to Electricite du Cambodge (EDC) under a long-term power purchase agreement, it said.
A limited liability joint-venture company would then be set up, with each party becoming shareholders in the equity of the company.
Leader said the bid was in line with the group's plan to expand its power generation business in Cambodia.
It said the Cambodian ministry had invited “among others” Leader and MKCSS to bid for the project on Aug 2. The closing date to submit the bid is Dec 4.
Leader said a technicality and feasibility study on the project had been conducted and completed.
“At this juncture, the total project cost, equity contribution, and project financing details have yet to be finalised between Leader and MKCSS,” it said.
Leader, through its 60%-owned subsidiary in Cambodia, currently owns and operates a 35MW power generation plant in Phnom Penh and sells the electricity to EDC.
In a separate statement to Bursa yesterday, Leader reported a pre-tax profit of RM18.5mil for the third quarter ended Sept 30, an increase of RM4.45mil compared with the same quarter last year.
The company also registered higher revenue of RM688.7mil for the quarter against RM433.61mil previously.
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