Year 2019

The Xayaburi Hydroelectric Power Plant, with the installed capacity of 1,285 MW, 1,220 MW of which shall be distributed to EGAT and 60 MW of which shall be distributed to Electricite du Laos, with the commencement of the commercial operation by distributing electricity to EGAT on October 29, 2019 according to schedule specified in the Power Purchase Agreement with EGAT.

the Company received an “Excellent” CG Score rating from Corporate Governance Report of Thai Listed Companies 2019 published by the Thai Institute of Directors Association.

there were 165.1 million shares exercised under CKP-W1, equivalent to Baht 990.9 Million. The Company registered the capital increase on October 1, 2019, and after the capital increase registration, the Company’s registered capital increased to Baht 8,129.4 Million.

there were 594.2 million shares exercised under CKP-W1, equivalent to Baht 3,565.4 Million. The Company registered the capital increase on July 1, 2019, and after the capital increase registration, the Company’s registered capital increased to Baht 7,964.2 Million.

Bangpa-In Cogeneration Power Project 1 underwent the Major Overhaul according to plan.

the Company paid the dividend from the operating results of the year 2018 at the rate of Baht 0.0280 per share, in the total amount of Baht 206.4 Million, representing the dividend payment rate of 85.7 percent of the net profit under the separate financial statements

the Company purchased additional shares in SEAN accounting for 5.33 percent from PT Holding Limited, totaling Baht 681.5 Million, with SEAN being the major shareholder in NN2, a subsidiary engaging in the Company’s main business, thereby resulting in an increase in the Company’s shareholding percentage in SEAN from 56.0 percent to 61.33 percent of the registered capital and an increase in its proportion of indirect investment in NN2 from 42.0 percent to 46.0 percent.

TRIS Rating affirmed the Company’s corporate rating of “A/Stable Outlook”, and also affirmed the Company’s issue rating for unsubordinated and unsecured debentures of “A-/Stable Outlook”

NN2 issued and offered for sale the name-registered, unsecured, unsubordinated debentures No. 1/2019, with debentureholder representative, in the amount of Baht 6,000 Million divided into:

  • the amortizing repayment-typed debentures with a maturity of three years, at the interest rate of 3.18 percent per annum, in the amount of Baht 3,200 Million;
  • the debentures with a maturity of four years, at the interest rate of 3.44 percent per annum, in the amount of Baht 800 Million; and
  • the amortizing repayment-typed debentures with a maturity of eight years, at the interest rate of 3.88 percent per annum, in the amount of Baht 2,000 Million, with the issuer’s right to early redemption;

NN2 utilized the proceeds from the issuance and offering for sale of the debentures to repay all outstanding loans from the financial institutions to reduce the financial cost

TRIS Rating affirmed NN2’s corporate rating of “A/Stable Outlook” and also upgraded NN2’s issue rating for all debenture series to “A/Stable Outlook”.

BKC invested in six Solar Rooftop and Solar Farm Power Plants, as follows:

  • Solar Rooftop Power Plant in Amphoe Phachi, Phra Nakhon Si Ayutthaya Province (“Phachi Solar Power Plant”), with the installed capacity of 0.89 MW, with the commencement of the electricity distribution to the private-sector operator in February 2019.
  • Solar Rooftop Power Plant in Amphoe Banglen, Nakhon Pathom Province (“Banglen Solar Power Plant”), with the installed capacity of 0.97 MW, with the commencement of the electricity distribution to the private-sector operator in May 2019.
  • Solar Rooftop Power Plant in Amphoe Sampran, Nakhon Pathom Province (“Phutthamonthon Sai 5 Solar Power Plant”), with the installed capacity of 0.97 MW, with the commencement of the electricity distribution to the private-sector operator in June 2019.
  • Solar Rooftop Power Plant in Amphoe Mueang Samut Sakhon, Samut Sakhon Province (“Mahachai Solar Power Plant”), with the installed capacity of 0.72 MW, with the commencement of the electricity distribution to the private-sector operator in June 2019.
  • Solar Rooftop Power Plant in Amphoe Krathum Ban, Samut Sakhon Province (“Krathum Ban Solar Power Plant”), with the installed capacity of 0.51 MW, with the commencement of the electricity distribution to the private-sector operator in July 2019.
  • Solar Farm Power Plant in Amphoe Khlong Preng, Chachoengsao Province (“Khlong Preng Solar Power Plant”), with the installed capacity of 2.67 MW, which was currently under construction.

NN2 entered into the Nabong Substation Lease Agreement with the Government of the Lao PDR after completion of the upgrade of the voltage and the construction of the Nabong Substation, with effect from January 1, 2019.

Year 2018

The construction progress of the Xayaburi Project was approximately 97 percent. It was expected to commence commercial operation in late 2019.

score in the corporate governance survey of listed companies for 2018 by the Thai Institute of Directors Association.

NN2 completed the Nabong Substation upgrade to accommodate transmission of electricity from various projects having the power purchase agreements with the Electricity Generating Authority of Thailand.

sale unsecured, unsubordinated debentures No.1/2018, without debentureholder representative, and with the issuer’s right to early redemption, in the amount of Baht 6,500 Million, divided into the debentures with a maturity of three years, at the fixed interest rate of 2.56 percent per annum, in the amount of Baht 4,000 Million; and the debenture with a maturity of ten years, at the fixed interest rate of 4.06 percent per annum, in the amount of Baht 2,500 Million. The Company received a corporate rating of “A/Stable”, and received an issue rating of “A-/Stable” from TRIS Rating. The Company utilized the proceeds from the issuance and offering for sale of such debentures to repay the debentures No. 1/2016 issued and offered for sale in 2016 in the amount of Baht 4,000 Million and to pay for the shares in XPCL additionally acquired by the Company from BEM representing 7.5 percent in the amount of Baht 2,065 Million. The remainder of the proceeds was to be used for capital increase in XPCL which would gradually call for the payment until completion of the construction of the project.

The board of directors’ meeting of BKC resolved to approve the investment in six solar rooftop and solar farm projects for production and distribution of electricity to the privatesector operators, with the total installed capacity of 6.7 MW. The construction commenced from the third quarter of 2018 and was expected to commence the production and commercial distribution of electricity in 2019.

The Company made the dividend payment from the operating results for 2017 at the rate of Baht 0.0225 per share in the total amount not exceeding Baht 165.8 Million, representing 57.9 percent of the net profit under the separate financial statements.

The 2018 Annual Ordinary General Meeting of Shareholders of the Company resolved to approve the acquisition of shares in XPCL representing 7.5 percent of XPCL’s registered capital in the total amount of approximately Baht 2,065.0 Million from BEM, as well as approving the share payment in proportion to its shareholding percentage in XPCL until completion of the construction of the Xayaburi Project, in the amount of approximately Baht 399.2 Million.

NN2 issued and offered for sale the name-registered, unsecured, unsubordinated, amortizing debentures No. 1/2018 with a debentureholder representative, and the issuer’s right to early redemption, in the amount of Baht 3,000 Million, with a maturity of 12 years, at the interest rate of 3.98 percent per annum. NN2 received a corporate rating of “A/Stable”, and an issue rating of “A-/Stable” from TRIS Rating. NN2 utilized the proceeds from the issuance and offering for sale of such debentures to repay the USD loans to minimize the finance cost.

Year 2017

NN2 issued and offered for sale the debentures No. 1/2017 to institutional investors and high net worth investors, in the amount of Baht 6,000 Million, divided into the debentures with a maturity of three years, at the interest rate of 2.59 percent per annum, in the amount of Baht 1,000 Million; the debentures with a maturity of seven years, at the interest rate of 3.48 percent per annum, in the amount of Baht 1,400 Million; and the debentures with a maturity of ten years, at the interest rate of 3.69 percent per annum, in the amount of Baht 3,600 Million. The debentures was name-registered, unsecured, unsubordinated debentures, with debentureholder representative. In this regard, NN2 received a corporate rating of “A/Stable”, and received an issue rating at “A-/Stable” from TRIS Rating Co., Ltd. (”TRIS Rating”).

The Extraordinary General Meeting of Shareholders of NN2 No.1/2017 resolved to grant approval for NN2 to issue and offer for sale the debentures for debt repayment to financial institutions in the amount and the outstanding value of the debentures not exceeding the existing long-term loan obligations of NN2 owed to the financial institutions, in Baht currency and/or equivalent in foreign currency, whereby the debentures can be issued and offered for sale in one or several series, on a single or several occasions

BIC called for the payment of the remaining ordinary share capital increase for investment in BIC2 and as a result, BIC’s current registered capital was fully paid-up at Baht 2,705 Million.

The Bangpa-in Cogeneration Project 2 (BIC2) commenced its commercial operation. BIC2 has an installed capacity of 120 MW. It has the Power Purchase Agreement with EGAT in the amount of 90 MW for a period of 25 years from the Commercial Operation Date and distributes the remaining electricity to industrial operators in the Bangpa-in Industrial Estate.

The Company made the dividend payment from the operating results for 2016 at the rate of Baht 0.06 per share, in the total amount of Baht 442.2 Million.

Year 2016

NN2 entered into the long-term loan agreement with the lending financial institutions for refinancing of existing long-term loans and additional financing for the upgrade of the Nabong Substation. This achievement resulted in a decrease of NN2’s financial costs and enhanced NN2’s liquidity.

The Company issued and offered for sale the debentures No. 1/2016 to institutional investors and/or high net worth investors, in the total amount of Baht 4,000 Million, with a maturity of three years, at the interest rate of 4 percent per annum. The debentures was name-registered, unsecured, unsubordinated debentures, with debentureholder representative and the issuer’s right to early redemption.

The Company’s 2016 Annual Ordinary General Meeting of Shareholders resolved to grant approval as follows:

  • Approval was granted for the Company to issue and offer for sale the debentures in the total amount not exceeding Baht 10,000 Million or equivalent in other currency.
  • Approval was granted for NN2 to execute a connected transaction for engagement of CH. Karnchang (Lao) Co., Ltd. (“CHK”) for the upgrade of voltage and the construction of the 230/500 kV Nabong Substation, in the total amount of Baht 799.85 Million and USD 39.11 Million (exclusive of value added tax), in order to accommodate the power transmission from various projects having the power purchase agreements with the Electricity Generating Authority of Thailand (“EGAT”). The construction was scheduled to be completed by May 2018.

The Company made the dividend payment from the operating results for 2015 at the rate of Baht 0.02 per share, in the total amount of Baht 164.4 Million.

Year 2015

  • 1,870 million units of CKP-W1 started trading on the Stock Exchange. As at June 28, 2019, shareholders converted CKP-W1 to ordinary share in amount of 594 million shares.
  • The Company acquired 805,830,000 shares in XPCL from CK representing 30 percent of its registered capital, in the total amount of approximately Baht 4,344 Million.

1,870 million newly issued ordinary shares started trading on the Stock Exchange.

The Company decreased the par value per share from Baht 5 to Baht 1 and increased the Company’s registered capital by Baht 3,740 Million, the total registered capital then amounted to Baht 9,240 Million, divided into:

  • 1,870 million of newly issued ordinary shares for offering for sale to the existing shareholders in proportion to their shareholding percentage (Rights Offering) with the resulting registered and paid-up capital amounted to Baht 7,370 Million.
  • 1,870 million of ordinary shares to accommodate the exercise of the right to convert the warrants to purchase the Company’s newly issued ordinary shares (CKP-W1) in the amount of 1,870 million units.

The Company made the dividend payment from the operating results for 2014 at the rate of Baht 0.1 per share in the total amount of Baht 110 Million, representing the first dividend payment of the Company.

Year 2014

The Company’s Extraordinary General Meeting of Shareholders No. 1/2014 resolved to grant approval for BIC to execute a connected transaction for engagement of CK, the Company’s major shareholder, as EPC Contractor for construction of the Cogeneration Power Project 2 (“BIC2”), with a total value not exceeding Baht 4,310 Million. BIC2 was scheduled to start the construction on January 1, 2015, for a period of 29 months and commence its commercial operation in the middle of 2017.

The 2014 Annual Ordinary General Meeting of Shareholders resolved to grant approval for the Company to transfer the share premium in the amount of Baht 170 Million to offset the Company’s deficit in the Company’s separate financial statements.

Year 2013

The Company started trading its ordinary shares on the Stock Exchange of Thailand.

The Company registered its conversion into a public company and change of its name to CK Power Public Company Limited.

The Company decreased its registered capital from Baht 9,200 Million to Baht 3,066.7 Million, divided into 306.7 million ordinary shares at the par value of Baht 10 each. The capital decrease was made to return the decreased capital to the shareholders in proportion to their shareholding percentage. Subsequently, in February 2013, the Company increased its registered capital to be Baht 4,600 Million for sale to the existing shareholders inproportion to their shareholding percentage, and reduce the par value per share from Baht 10 each to Baht 5 each. Concurrently, the Company also increased its registered capital from Baht 4,600 Million to Baht 5,500 Million by issuance of new 180 million ordinary shares at the par value of Baht 5 each for public offering.

The Company acquired additional 26,029,999 shares in BIC, representing 19 percent of its registered capital, from Bangpa-in Land Development Co., Ltd., and as a result, the Company held a total of 89,049,998 shares in BIC, or 65 percent of BIC’s registered and fully paid-up capital</p>

Year 2012

The Company acquired from CK ordinary shares in two solar power production and distribution companies and a cogeneration power project, as follows:

  • 875,250 shares in CRS, representing 30 percent of its registered capital, 95 percent of which was paid-up.
  • 63,019,999 shares in BIC, representing 46 percent of its registered and fully paid-up capital

The Company acquired additional 8,809,000 shares in SEAN from TEAM Consulting Engineering and Management Co., Ltd., representing 1.3 percent of its registered capital, thereby resulting in the Company’s shareholding in SEAN totaling 369,977,999 shares, or 56 percent of its registered and fully paid-up capital.

The Company acquired ordinary shares in two companies operating in the business of solar power production and distribution from CK, as follows:

  • 2,342,498 shares in BKC, representing 100 percent of its registered and fully paid-up capital.
  • 664,500 shares in NRS, representing 30 percent of its registered capital, 85.06 percent of which was paid-up.

The Company acquired additional 110,112,500 ordinary shares in SEAN from Bangkok Expressway Public Company Limited (BECL)1, representing 16.7 percent of its registered capital, and as a result, the Company held a total of 361,168,999 shares in SEAN, representing 54.7 percent of its registered and fully paid-up capital.

Year 2011

The Company was registered for its incorporation with the registered capital of Baht 1,000,000, with the objective to become the center of CH. Karnchang Group’s focus on investment in the business of production and distribution of electricity generated from various types of energy sources.