SUPER Reports 18% Lower of Profit in 2018, Aiming to Invest ฿577M. in 2 Vietnam PP
Despite an 18.6% lower of profit in 2018, SUPER has announced that the company will invest 577 million in two wind power plants in Vietnam.
Super Energy Corporation Public Company Limited (SUPER) has reported its consolidated financial statement 2018 through the Stock Exchange of Thailand as follows:
SUPER’s profit in 2018 was THB 1,045 million, decreased THB 238.886 million or 18.60% when compared to THB 1,284 million in 2017. The decline was mainly due to the loss from exchange rate that SUPER accounted THB 12.2 million, decreased THB 133 million or 91.64%. Also, the administrative expenses was reported at THB 505.224 million, increased by THB 94.847 million or 23.11% as well.
Moreover, SUPER has announced that the Board of Directors approved to sign the share purchase agreement in the company that owns the wind power plant project in Vietnam for a total of two projects; HBRE Gia Lai (50 MW) and HBRE Phu Yen (200 MW).
The total value of the consideration that SWE and SUPERE, both are SUPER’s subsidiaries, must be paid for the transaction is not more than THB 577 million which will pay in cash of full amount.
The acquisition of two power plants will enhance the company’s strengths and competitiveness in the future and continue to generate revenue for SUPER. It also expands the company’s investment abroad. They will receive investment incentives in renewable energy from the Vietnamese government, such as tax benefits and benefits of access to source of fund.