Rachaburi power plant

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Bangkok Post August 3, 1999

Malaysians ponder Ratchaburi plant stake

YTL also looks at other projects

Boonsong Kositchotethana

YTL Corporation Bhd, Malaysia's biggest infrastructure developer, has
emerged as a possible bidder for a one-third stake in the Ratchaburi
power station.

Company sources said the cash-rich conglomerate wanted a role in
Thailand's power industry, and the Electricity Generating Authority of
Thailand's large power house, earmarked for partial privatisation,
presented an ideal opportunity.

YTL is also looking to acquire interests in large-scale Independent
Power Producer (IPP) schemes, as well as form partnerships in other
power projects, particularly those owned by Egat.

Sources with the Malaysian company said it had not been put off by the
failure of its earlier bid for a 14.9% stake in Electricity Generating
Plc (Egco), a privatised power firm spun off from the state agency.

A subsidiary, YTL Power International Bhd, made the final shortlist of
six bidders for the Egco stake, but lost out to China Light and Power,
Hong Kong, which offered almost twice as much as each of its rivals.

China Light and Power offered 126 baht a share, paying US$239.96
million to Egat for the holding in July last year.

YTL is one of several international power concerns to express keen
interest in the Ratchaburi stake, for which Egat hopes to fetch between
55 billion and 60 billion baht.

However, Egat employees strongly oppose privatisation of the
3,645-megawatt combined-cycle complex, located about 130 kilometres
southwest of Bangkok, especially to foreigners.

Energy planners are determined to proceed with the partial sale as part
of a plan to privatise the energy sector.

YTL established a representative office in Bangkok about five years ago
as part of its expansion.

In October last year, it was awarded a contract for the privatisation
and expansion of Hwange power station in Zimbabwe. As well, it has a
joint venture in China.

YTL Power Generation Sdn Bhd, the conglomerate's other unit, built and
operates two power plants in Malaysia under that country's IPP
programme. The plants are at Paka in Trengganu and in Pasir Gudang,
Johore. Built in record time for US$1.4 billion, the plants produce a
combined 1,212 megawatts.


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Bangkok Post August 3, 1999 

Malaysians ponder Ratchaburi plant stake 

 YTL also looks at other projects 

 Boonsong Kositchotethana 

 YTL Corporation Bhd, Malaysia's biggest infrastructure developer, has emerged
as a possible bidder for a one-third stake in the Ratchaburi power station. 

 Company sources said the cash-rich conglomerate wanted a role in Thailand's
power industry, and the Electricity Generating Authority of Thailand's large
power house, earmarked for partial privatisation, presented an ideal
opportunity. 

 YTL is also looking to acquire interests in large-scale Independent Power
Producer (IPP) schemes, as well as form partnerships in other power projects,
particularly those owned by Egat. 

 Sources with the Malaysian company said it had not been put off by the
failure
of its earlier bid for a 14.9% stake in Electricity Generating Plc (Egco), a
privatised power firm spun off from the state agency. 

 A subsidiary, YTL Power International Bhd, made the final shortlist of six
bidders for the Egco stake, but lost out to China Light and Power, Hong Kong,
which offered almost twice as much as each of its rivals. 

 China Light and Power offered 126 baht a share, paying US$239.96 million to
Egat for the holding in July last year. 

 YTL is one of several international power concerns to express keen
interest in
the Ratchaburi stake, for which Egat hopes to fetch between 55 billion and 60
billion baht. 

 However, Egat employees strongly oppose privatisation of the 3,645-megawatt
combined-cycle complex, located about 130 kilometres southwest of Bangkok,
especially to foreigners. 

 Energy planners are determined to proceed with the partial sale as part of a
plan to privatise the energy sector. 

 YTL established a representative office in Bangkok about five years ago as
part of its expansion. 

 In October last year, it was awarded a contract for the privatisation and
expansion of Hwange power station in Zimbabwe. As well, it has a joint venture
in China. 

 YTL Power Generation Sdn Bhd, the conglomerate's other unit, built and
operates two power plants in Malaysia under that country's IPP programme. The
plants are at Paka in Trengganu and in Pasir Gudang, Johore. Built in record
time for US$1.4 billion, the plants produce a combined 1,212 megawatts. 
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