SET Announcements
08 May 2007
To notify the 20% decrease of the generated earning from ope
Ref. SCG-SET-07-010
May 4, 2007
To: The President
The Stock Exchange of Thailand
Re: To notify the 20% decrease of the generated earning from
operating activities
Sahacogen (Chonburi) Public Company Limited is pleased to notify that the net
income of the operating activities for the first quarter ended March 31, 2007
was 79.33 million Baht, 26.90 million Baht or 25.32% lower than the previous
year. This was primarily resulted from following major factors:-
1. Cost of Sales
This year during January- February the gas turbine #1 was removed for the
scheduled hot section repair, therefore the leased engine had to be installed
and the operating fee amount of 4.74 million Baht was imposed and accounted
in the first quarter. This was the incremental leased engine expenses in
comparing with the previous year.
2. Administrative expenses
In 2007 the planned power business expansion was continually implemented
and resulted in the incremental expenses of additional employees,
consulting fees, overhead associated with the project feasibility study
amount of 11.21 million Baht in comparing with the first quarter 2006.
3. Interest Expenses
The low fixed interest rate of 3.625% had been ended and replaced by the
floating rate MLR-2 since June 30, 2006, therefore, the interest expenses paid
in the first quarter of 2007 was based on the high MLR of 7.50 % resulting an
increase of 7.89 million Baht from the same period of 2006.
.
Sincerely yours
(Mr. Viroj Theeravatvatee)
Managing Director