EGCO prepares to pay 2018 dividends

Jakgrich Pibulpairoj, president of EGCO, said: “EGCO Group’s 2018 performance satisfactorily exceeded its expected goals. Net profit was Bt21.07 billion, an increase of Bt9.25 billion or 78 per cent. For the operating profit, the company posted Bt23.37 billion, an increase of Bt14.1 billion or 152 per cent compared to the previous year. 
“Major factors contributing to high profitability are the gains amounted Bt14.17 billion from divestment of three assets – East Water, GIDEC and MPPCL. The company, however, recorded the normal operating profit of Bt9.19 billion, a decrease of Bt73 million. 
“Considering such performance, the company’s board of directors will propose to the shareholder’s 2019 AGM to consider the dividend payment from the second-half-year operation of 2018 at Bt3.5 per share. Upon the approval of the shareholders, the full year dividend payment, therefore, will total to Bt9.5 per share.” 
The firm said the highlight of the company’s performance included the 49 per cent investment in Paju Energy Service Co, the owner and operator of the 1,823MW Paju combined cycle power plant in Gyeonggi province, South Korea. For this investment, EGCO Group has partnered with SK E&S Co Ltd which has expertise in the LNG business. This partnership not only allowed EGCO Group to expand its business to a new market in the Asia-Pacific, but also opened the door for the company to enter into LNG business, a high potential business in Thailand and other countries in this region in the future. 
Jakgrich added: “Looking at 2019, EGCO will continue to focus on sustainable growth and high return for shareholders. We will seek new investment opportunities in power business, an area of our expertise, in both fossil fuel and renewable power plants.”