Torstein and Wu exchanging documents after yesterday’s signing between Sarawak Energy and Malaysian Phosphate Additives (Sarawak) Sdn Bhd.
KUCHING: Sarawak Energy, via its wholly-owned subsidiary company Syarikat Sesco Berhad (Sesco), yesterday signed a Power Purchase Agreement (PPA) Term Sheet with Malaysian Phosphate Additives (Sarawak) Sdn Bhd for the supply of 150 MW of power.
The RM1.04 billion investment by Malaysian Phosphate Additives (Sarawak) Sdn Bhd signifies robust demand for energy and positive market dynamics in Sarawak.
Malaysian Phosphate Additives (Sarawak) Sdn Bhd’s 500,000MT per annum phosphorus plant is the first of its kind in the nation and the Asean region.
The penning of the agreement will be beneficial for their plant in Samalaju Industrial Park to manufacture food phosphates, animal feed phosphates and fertiliser phosphates for use in local and export markets.
Signing for the agreement were Sarawak Energy’s chief executive officer Datuk Torstein Dale Sjotveit and Malaysian Phosphate Additives (Sarawak) Sdn Bhd’s director Wu Sor Hwa.
According to Sjotveit, Sarawak Energy has created an avenue for foreign investors and local players alike to increase their presence through renewable energy in Sarawak.
“The steady pace of investment shows investors’ confidence in the state which contribute positively towards the State’s development and the country’s economy in the long run,” he said. Wu also commented that they look forward to grow and sustain this affiliation with the green energy power house in Sarawak while expanding their business frontier.
“In the present era of technology, it is imperative that we keep ourselves aligned to a more efficient and effective source of energy whilst moving forward.” Wu said.
Under the SCORE initiative, the government is implementing a comprehensive plan to develop the state’s economy and financial strength by attracting foreign investments and creating employment in energy intensive industries via its generating of bulk renewable energy.
To support this, Sarawak Energy is committed towards harnessing the abundant hydroelectricity resources in a sustainable manner, compliant with Sarawak and Malaysian law and guided by international best practices.
This will result directly in the people of Sarawak enjoying higher income and improved standard of living.
Sarawak Energy’s projections indicate that by the middle of the next decade, residential, retail and commercial customers in Sarawak will require 2,000 MW while SCORE customers will consume at least 6,000 MW.
The State’s GDP is expected to expand 5-fold by 2030 when SCORE is fully operational and an approximately 1.6 million jobs to be created.
Our beloving P Ramlee said " Irama dan lagu tidak boleh di pisahkan". Think about this, SCORE and SCable?? What is the future of SCable?? Abundance!
Analysts Neutral On Taib-Linked Companies reported by The Business Times.
Analysts are neutral on companies linked to Sarawak Chief Minister Tan Sri Abdul Taib Mahmud and expect policy continuity in the resource-rich state under Taib's successor.
They said these companies have strong fundamentals and the state's new development area, the Sarawak Corridor of Renewable Energy (SCORE), will progress as planned.
Meanwhile, Maybank IB Research has maintained its "neutral" rating on Sarawak following Taib's decision to retire, saying it expects policy continuity and SCORE to proceed.
already average down another 200 lots at 1.50. total holding 800 lots now. woohoo. sad or to be happy ? 1 sen movement is 800rm lah.... can i be considered as 1 of the small ikan bilis shareholder ah ?
But looks like someone accumulating between RM1.51-52. Nevertheless, keep accumulating. Scable can't stay down for long since upward pressure is building. Taib's son or daughter likely to run in Balingian. Either way, it's all in the family. Risk is always yours though.
The Star reported that the Sarawak government is going ahead with the development of two major hydroelectric dams under its SCORE project.
Now more good news to make SCable a safe haven during difficult time.
Source: AmeSecurities
Deputy Chief Minister Tan Sri Alfred Jabu said the state is proposing to build Baram and Balleh dams with installed capacities of 1,200MW and 1,295MW respectively.
This would effectively bump up Sarawak’s hydro capacity to nearly 6,000MW. The target is for Sarawak to have potential hydropower resources totalling 20,000MW, with another 8,000MW coming from coal.
We understand that the Baram dam would be a roller compacted concrete type with its crest elevation set at 185MW.
On the other hand, Baleh would be a 204-metre high concrete faced rockfill dam with a gated chute channel spillway, an intake structure, five power tunnels as well as a power station housing five generator units.
Sarawak Energy Bhd’s (SEB) corporate communication manager Ahadiah Zamhari was recently quoted as indicating that the Baram dam’s social environmental impact assessment (EIA) study is in the final stage, and a report is near completion.
We are encouraged by this development. The roll-out of both dams will likely act as a positive lever to boost SCORE’s energy capacity to meet increasing power requirements of energy-intensive industries.
At the moment, power from the existing 2,400MW Bakun and 944MW Murum dams have been pre-sold.
While the exact timeline remains unclear, we expect both projects to be rolled-out within the next one to two years. This should have a spillover effect for local Sarawakian contractors.
Notably, Sarawak Cable (BUY, FV: RM2.33/share) could be a key beneficiary of more power transmission lines that SEB would likely need to construct to meet future power load capacity. Select contractors such as Hock Seng Lee (BUY, FV: RM2.40/share) and KKB Engineering (HOLD, FV: RM2.71/share) may also benefit from a portion of civil-related works for the dams.
Likewise, Bintulu Port (unrated) could benefit from increased throughput capacity once the new Samalaju port is ready.
"................The JV of China's Sinohydro and Trenergy Infrastructure, a wholly-owned unit of Sarawak Cable, will be entrusted to construct two sections of the 500kV backbone, namely Mapai to Lachau (Package B) and Lachau to Tondong (Package C), a statement said on Wednesday............"
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jenabchen123
1,219 posts
Posted by jenabchen123 > 2014-02-14 03:04 | Report Abuse
And close +3 sen to 1.53. Keep climbing slow and steady Scable.