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EDL.Gen coffers boosted
EDL.Gen shareholders were given a confidence booster as outlooks were lifted when it was announced the Nam Lik 1-2 hydropower plant generated revenue of US$13m in the first six months.
The joint venture of (NL1-2) is between China International Water Electric Corporation and Electricite du Laos (EDL). EDL holds a 10 percent share in the investment which is capitalised at US$150 million in Feuang district, Vientiane province. Soaring power consumption in Laos and neighbouring Thailand, Vietnam and Cambodia due to population and economic growth has also made hydropower investment in Laos more attractive.
Electricity du Laos (EDL.Gen), a state-owned enterprise is listed on the Lao Stock Exchange and has a monopoly in electricity distribution in Laos. As power grids grow so will EDL.Gen, it doesn't get much better than that for investors in the stock to go long. A further appreciation in share price is expected this week.
Huaphan iron ore mining deal signed off. Lao Deputy Minister of Planning and Investment Thongmy Phomvisay signed an agreement with Vietnam's HMT JSC. Vietnam's Tien Hieu Minerals and Trade Joint Stock Company on March 10 signed a contract worth US$4 million to cooperate in ore mining and processing in Huaphan province of Laos. The project will run until 2021.
33 FDIs get the chop: The statistics released by the HCM City Department of Planning and Investment showed 33 foreign direct investment (FDI) projects (Some back to 1993) were to be cancelled and investment licenses revoked in HCM City in 2010, most of which were small and medium-scale.
Jan-Feb Five local projects were licensed for Vietnamese investments in Laos. The Saigon Times website reported a number of Vietnamese investors got approval to spend more than US$432 million on five projects in Laos in the first two months of this year. Main investment areas were in mining, rubber tree growing, agro-forestry, energy, banking, insurance, telecommunications, trade services, urban development, and infrastructure construction.
The new investments brought the total number of Vietnamese invested projects in Laos to nearly 200 with total registered capital of more than US$3.3 billion. Saigon Invest Group, Hoang Anh Gia Lai Corp., Vietnam Coal and Mineral Industries Group, Vietnam Rubber Group, telecom services provider Viettel and Song Da Corporation are among the major Vietnamese investors in Laos.
Indochine Mining (IDC. ASX) golden mine op at Mount Kare PNG. Indochine Mining (ASX: IDC). Stephen Promnitz, chief executive of the south-east Asia and south-west Pacific copper-gold explorer. Indochine Mining raised US$20 million in its December float on the strength of a big copper-gold exploration tenement package in little-explored Cambodia as its main project. But all the focus is on the expected shares-and-cash deal that will give Indochine control of Mount Kare in PNG [the purpose of the float] is expected to be released within 3 or less weeks, possibly the first week in April.
When that happens, stand by for a re-rating of the stock. This stock on above fundamentals all rates speculation at around AUD 32 cents.
vientiane times
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