Ratchaburi Electricity Generating Holding PCL.
33
10 baht per according to the paid registered capital
price, totaling Baht 500 million, on 16 January 2014.
Both actions were for the purpose of investment
management and in accordancewith the Company’s
Group’s new investment structure.
Other significant changes are as follows:
On 14 January 2013, Ratchaburi Electricity
Generating Company Limited, a wholly owned
subsidiary, registered the establishment of four
subsidiaries, namely Ban Bueng Power Company
Limited, Eastern IPP Company Limited, Eastern
Power Generation Company Limited and Ayudhya
Power Company Limited, as part of a preparation to
participate in an IPP bid. The Company later decided
not toparticipate in thebidding. TheCompany’s Board
of Directors and Ratchaburi Electricity Generating
Company Limited therefore resolved to liquidate
the subsidiaries and proceed with liquidation, which
is now under process.
On 6 February 2013, Ratchaburi Energy Company
Limited, in which the Company holes 99.99 per cent
shares, sold 208,000 shares, representing 26 per cent
of the total shares, in Sukhothai Energy Company
Limited at Baht 100 per share according to the
registered capital price, totaling Baht 20.80 million
to Sunrise Energy Company, which is an existing
shareholder.
On 17 April 2013, the Company approved a plan
to increase registered capital in RH International
Corporation Company Limited (“RHIC”) by Baht 2,600
million by issuing 260 million new ordinary shares at
Baht 10 par value. This brings RHIC’s registered capital
to Baht 7,000 million, which will support RATCH-
Australia Corporation Limited’s financial restructuring
for the best benefit of the Company.
On 28 May 2013, Ratch Udom Power Company
Limited, a 100-per-cent owned by the Company,
registered liquidation to the Department of Business
Development, Ministry of Commerce, and is under
liquidation process. Such action is aimed at increasing
the Company’s flexibility in management and
reducing document and administrative expenses.
Liquidation of Ratch Udom Power Company Limited
does not have impact on the Company’s operation.
On 23 December 2013, Chubu Ratchaburi Electric
Services Company Limited registered with the
Department of Business Development to lower its
registered capital from Baht 40 million to Baht 20
million. The number of ordinary shares remained
at 400,000 shares with lower ordinary share price
from Baht 100 to Baht 50 for the benefit of financial
management. Chubu Ratchaburi Electric Services
Company Limited is a joint venture in which the
Company and Chubu Electric Power (Thailand)
Company Limited holds 50 per cent each and
provides power plant operations and maintenance
service to Ratchaburi Power’s Power Plant.
On 28 January 2014, Ratchaburi Gas Company
Limited, the Company’s 99.99-per-cent owned
subsidiary, purchased 17,119,000 shares of Tri Energy
Company Limited, representing 50 per cent of the
total shares of Tri Energy Company Limited, from the
previous shareholder, totaling USD 21,323,495. As a
result, the Company holds 99.99 per cent shares of
Tri Energy Company Limited through Ratchaburi Gas
Company Limited.
The Companywrote off project development cost
of Nam Ngum 3 Hydroelectric Power Project, Nam
Ngum 3 Power Company Limited, whose 25 per cent
shares are owned by the Company, as development
expenses of the fiscal year 2013 by the amount of
Baht 315 million since the Project Development
Agreement of the Nam Ngum 3 Hydroelectric Power
Project expired and was not renewed by Ministry
of Planning and Investment of Lao PDR due to the
change in Lao PDR’s the power development plan.
