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UPP invest US$46m in gas power plant with Myanmar Ministry of Electric Power
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15-08-2013 02:34 PM
Post: #1
imba1328 Offline
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on a Build-Operate-Transfer basis for 30 years ....

Myanmar MOEP shall supply natural gas
at no cost to UPP Power Myanmar throughout the term of PPA
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15-08-2013 02:38 PM
Post: #2
imba1328 Offline
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In connection with the Power Plant Project, the Company now wishes to announce
that UPP Power Myanmar has today entered into a turnkey agreement (the “Turnkey
Agreement”) with MSP Tractors Pte Ltd, a company incorporated under the laws of
the Republic of Singapore (“MSP Tractors”), and Myan Shwe Pyi Tractors Limited, a
company incorporated under the laws of the Republic of the Union of Myanmar
(“MSPTL”), whereby MSP Tractors and MSPTL will build the Power Plant on a
turnkey basis by undertaking the engineering, procurement and construction of the
Power Plant which shall meet the requirements of MOEP and/or Myanmar Electric
Power Enterprise (“MEPE”) under a power purchase agreement (“PPA”) to be
entered into between UPP Power Myanmar and MEPE.
2. Power Plant Project
Fundamental Structure of the Power Plant Project
2.1 The MOA sets out the major terms relating to the implementation of the Power Plant
Project, the establishment of the project company (i.e. UPP Power Myanmar) and the
granting of the concession rights for the development and utilisation of the Power
Plant Project on a build-operate-transfer (BOT) basis for a period of 30 years subject
to terms of the MOA and any other relevant agreement relating to the Power Plant
Project. Pursuant to the MOA, the Company agrees to implement the Power Plant
Project by participating in the survey, design, construction, operation, management
and maintenance of the Power Plant and its ancillary facilities. The MOEP agrees to
grant the concession rights to UPP Power on a BOT basis.
UPP HOLDINGS LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No. 196700346M) 2
2.2 Pursuant to the MOA, a land lease agreement is to be entered into with MEPE,
whereby MEPE will provide UPP Power Myanmar a site for the Power Plant Project
for a term of 30 years.
Description of the trade carried on
2.3 Pursuant to the MOA, a power purchase agreement (“PPA”) is to be entered into with
MEPE, whereby UPP Power Myanmar will sell its electric generating capacity and the
electric power generated by it to MEPE. The PPA will be based on a “take or pay
basis” with a guaranteed annual minimum off-take of 350 million kWh. MOEP will
supply natural gas at no cost to UPP Power Myanmar, throughout the term of the
PPA, which is for 30 years.
Implementation of the Power Plant Project
2.4 As Caterpillar power generation system will be used for the Power Plant, UPP Power
Myanmar will, in the implementation of the Power Plant Project, rely on the relevant
technical expertise of MSPTL, which is the authorized dealer of Caterpillar equipment
in Myanmar.
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15-08-2013 02:56 PM
Post: #3
imba1328 Offline
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US$46m or about S$58m ....

If remember correctly they have $80m cash..

Now they investing in developing of Industrial Park with another US$175m or S$220m,

UPP will have to raise another S$200m for the above 2 acquisitions...
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15-08-2013 03:00 PM
Post: #4
imba1328 Offline
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Ah tong has over 20% (23%??) holding and Peter Lim less than 20%, so both of them may not want to dilute their shares thru placement ... so likely wrts issue or right issue ..

If placement, they would probably buy from open market to raise their stake first and at the same time push up the price for any placement... a higher placement price will also raised its NAV of the company... just like Yoma...
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15-08-2013 04:02 PM
Post: #5
imba1328 Offline
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Rowsley acquire RSP only, price cheong to 50 cents ...

UPP will be another Wilmar for PL as they grow in Myanmar...
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15-08-2013 04:05 PM
Post: #6
Jos2 Online
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UPP cheong arh!!!! $1.00 very soon!!!! hehehehe....
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15-08-2013 04:10 PM
Post: #7
imba1328 Offline
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15-08-2013 04:05 PMJos2 Wrote:UPP cheong arh!!!! $1.00 very soon!!!! hehehehe....

Not so soon, but after a few placement possible...
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15-08-2013 04:17 PM
Post: #8
Jos2 Online
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last placement 37.5, bo lui tung leh!!!!
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15-08-2013 04:21 PM
Post: #9
imba1328 Offline
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15-08-2013 03:00 PMimba1328 Wrote:Ah tong has over 20% (23%??) holding and Peter Lim less than 20%, so both of them may not want to dilute their shares thru placement ... so likely wrts issue or right issue ..

If placement, they would probably buy from open market to raise their stake first and at the same time push up the price for any placement... a higher placement price will also raised its NAV of the company... just like Yoma...

for $200m, they might do a rights or wrt issue to raise their stake, but that would depress its share price, making it more difficult to raise more fund later..

so they might just buy from open market and raise the price then do a placement...
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15-08-2013 04:56 PM
Post: #10
imba1328 Offline
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$200m no issue for 2 billionaires...
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