190
Annual Report
2013
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
Notes to the financial statements
69
Hydro Power Plant Project, Nam Ngum 3
On 13 May 2008, the Company entered into a Shareholders Agreement with the other three
shareholders, GMS Lao Company Limited, Marubeni Corporation, and Lao Holding State Enterprise,
to form Nam Ngum 3 Power Company Limited a company under the policies and laws of Lao
People’s Democratic Republic (Lao PDR) with the initial authorised share capital of approximately
U.S. Dollars 0.3 million, comprising 3,000 ordinary shares with a par value of U.S. Dollars 100 per
share. The Company hold 25% of the company’s ordinary shares. The formed company will be
established to engage in and pursue project management of the Hydro Power Plant Project, Nam
Ngum 3. Such company had been registered on 28 October 2010. In addition, during December 2010,
the Company converted the development costs to investment in such company in the amount of Baht
0.45 million, in the proportion of investment of 25%.
During year 2013, the project cannot get approval of Ministry of Planning and Investment of Lao
PDR to extend the concession for development of this project which had been expired on 29 March
2013 as result of the changes in the Energy Development Plan of Lao PDR. The project are in process
of negotiation with the Lao Government to transfer and sell the assets and the ultimate outcome cannot
presently be determined. Therefore, the asset’s recoverable amount has been estimated and
impairment loss amounting to Baht 315 million was recognized in the administrative expense for the
year ended 31 December 2013.
Xe-Pian Xe-Namnoy, Hydroelectric Power Project
During 2013, the shareholders of Xe-Pain Xe-Namnoy Power Company Limited, a jointly-controlled
entity, approved to increase in share capital by transfer the project development cost, shareholder loan
and its accrued interest to investment in such jointly-controlled entity in proportion of each
shareholder. The Company transferred those transactions to investment in such jointly-controlled
entity amounting to Baht 392.53 million.
Wind power projects
The Group is developing Wind Power Generating and Selling Project in Thailand and Australia.
17 Interest-bearing liabilities
Consolidated
financial statements
Separate
financial statements
2013
2012
2013
2012
(in thousand Baht)
Current
Short-term loans from financial institutions
8,224,215
900,000
-
-
Notes payable
1,550,000
1,800,000
-
-
Current portion of long-term loans
from financial institutions
secured
-
285,981
-
-
Current portion of debentures - secured
4,961,400
3,939,900
-
-
Less
deferred financing fees within one year
(1,393)
(3,041)
-
-
4,960,007
3,936,859
-
-
Current portion of finance lease liability
1,515
1,009
-
-
Total current interest-bearing liabilities
14,735,737
6,923,849
-
-
Notes to the financial statements
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
