Samart moves deeper into energy sector
Thai telecom firm Samart Corp Plc took full control of its Cambodian air-traffic control service operator, which it had been using to run its energy business in that country.
In a filing with the Stock Exchange of Thailand (SET) yesterday, Samart said it had increased its stake in Cambodia Air Traffic Service Co Ltd to 100 per cent, by acquiring an additional 10 per cent from the remaining shareholders for US$4 million (Bt152 million). The transaction makes it the sole shareholder in the Cambodian firm. A Samart official said full control of Cambodia Air Traffic would allow more efficient use of that company in managing Samart's existing energy operations in Cambodia. In April, Samart won a deal to supply electricity to Kampot Cement Co Ltd (KCC), a cement plant in Cambodia's Kampot province. As part of the deal, Cambodia Air Traffic agreed to set up wholly owned subsidiary Kampot Power Plant to supply electricity to KCC, which is a joint venture between Siam Cement and the Cambodian-based Khaou Chuly Group. That deal marked Samart's first step towards diversifying away from IT and telecommunications and into energy in Cambodia and Thailand. In the same SET filing, Samart reported it had increased its stake in Cambodia Samart Co Ltd by purchasing an additional 15 per cent of registered capital from the minor shareholder for $630,000. This raised its stake in the Cambodian telecom-equipment distributor to 49 per cent, from 34 per cent previously. Samart's share price closed yesterday at Bt8.05, up from Bt8 the day before.
Telecom Reporters The Nation
|
