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CYPARK RESOURCES
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gark
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 Oct 5 2015, 07:39 PM
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QUOTE(darkknight81 @ Oct 5 2015, 07:25 PM) 1. MAYBE someone can share what are they going to do With the power plants? Selling off as scrap metal? YTL Power has already secured short term PPA for Paka power plant for the period of Mar 2016 to Dec 2018 from EC. The PPA can be further extended once YTLP settles the dispute of the land use for the power plant. The problem is lands belongs to TNB and plant belongs to YTL, the land use rights expired with the PPA on September. YTLP and TNB is currently undergoing negotiations. |
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gark
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Oct 5 2015, 07:41 PM
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QUOTE(darkknight81 @ Oct 5 2015, 07:37 PM) What’s New YTLP had earlier disclosed that it had acquired an 80% stake in P.T. Tanjung Jati Power Company for USD2m. This entity is undertaking the development of Tanjung Jati A, a green-field 1,320MW coalfired power plant in West Java, Indonesia. Tanjung Jati A is a legacy project awarded to the Bakrie Group in the 1990s. The project failed to take off then, initially due to the Asian financial crisis, and subsequently due to Bakrie Group’s capital constraints. News reports suggest an equity injection of IDR29tn (c.MYR850m) for the project, with possible commissioning of each of the two generation blocks in 2019 and 2020. What’s Our View Details are scant, and management is unwilling to divulge more. We note Tanjung Jati A is similar in size to that of 20%-owned Jawa Power (1,220MW coal-fired plant). Assuming similar concession terms, an 80% stake in Tanjung Jati A could conservatively add MYR0.30/share to our YTLP target price. The downside to this new investment is that FY16/FY17 dividends could potentially be at risk, given YTLP’s propensity to conserve cash for capex / M&As. Our earnings forecasts are unchanged for now pending further financial disclosure on the Tanjung Jati A power plant. Our TP is based on a 10% discount to our RNAV estimate of MYR1.76/share (fully diluted basis), which is in turn derived from a sum-of-parts with each operating entity valued using DCF. Indon government wants to have 35,000 kw additional power capacity by 2020 and is inviting ALL comers to build power plants. The prospects there are brights as electricity is sold at floating rate (depends on coal price and USD) to consumers so will offset any future risks fuel cost/forex risk. Current Indonesia have a energy deficit of around 10%-15%...  http://www.thejakartapost.com/news/2015/05...ty-program.htmlhttp://www.globalindonesianvoices.com/2018...icity-projects/This post has been edited by gark: Oct 5 2015, 07:46 PM |
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gark
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Oct 5 2015, 09:42 PM
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QUOTE(darkknight81 @ Oct 5 2015, 09:02 PM) Thanks Bro. You r right. How come the short term PPA not starting from 1 Oct 2015? Dunno... probably the land issue kua..l think... |
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