Thursday, 4 July 2013

Toyo Ink seeks approval for RM11.2bil Vietnam power venture

Toyo Ink Group Bhd is seeking shareholders’ consent for its diversification into the power sector in Vietnam, a project it first mooted in 2007. The 2,000MW coal-fired Song Hau 2 facility in Hau Giang, Vietnam, is estimated to cost US$3.5bn (RM11.2bn), it said in a filing with Bursa Malaysia yesterday, some US$1bn (RM3.2bn) more than what was announced in 2011. This is about 43x larger than its market capitalisation of RM81m.

  • Toyo Ink said it plans to finance the project, which got the Vietnam government’s nod in March this year, via a combination of equity and borrowings, although the exact funding mix can only be decided after it finalises the detailed terms and structure. Its proposed facility forms part of the Song Hau Power Complex, which consists of three power plants and is anticipated to have a combined 5,200MW upon full commission. (Starbiz)

Source: CIMB Daybreak - 04 July 2013

No comments:

Post a Comment