Type Announcement Subject OTHERS Description PRESS METAL BERHAD ("PRESS METAL" or "THE COMPANY") - ADDITIONAL 500MW POWER SUPPLY TERM SHEET BETWEEN PMB AND SYARIKAT SESCO BERHAD - UPDATE (Unless otherwise stated, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement dated 19 November 2014 in relation to the additional 500MW power supply)
Further to the announcement on 19 November 2014 with regards to the signing of a term sheet for an additional 500MW of power, the Board of Directors of Press Metal is pleased to announce that it has on even date executed the Power Purchase Agreement (“PPA”) with Syarikat Sesco Berhad (‘SESCO’) to formalise the terms for the supply of such additional 500MW of power for the Proposed Phase III Smelter in two stages, namely, 330MW for the first stage and 170MW for the second stage.
The PPA provides for the supply and delivery of power by SESCO to the Proposed Phase III Smelter for a 25-year period. Barring any unforeseen circumstances, Stage 1 of the Proposed Phase III Smelter is expected to come into operation by the last quarter of 2015 and Stage 2 of the Proposed Phase III Smelter is expected to be operational by the first quarter of 2018. Meantime, the Company will be entering a Technical Agreement with SESCO relating to the technical aspects of the PPA.
With this additional power, Press Metal will be able to increase its total smelting capacity from its existing 440,000 tonne to 760,000 tonne to become the largest smelter in S.E. Asia.
Very hard to forecast share market now as retail investor lack of lot critical information. Increase of USD suppose helping exporter but the demand of international is decreasing.
PMETAL tested its long term support yesterday and closed higher. Got into PMETAL yesterday evening near close. Looks like PMETAL will rebound off its recent lows.
i pity those buyer at 2.70 and above today, today rebound is for take profit not buy... the market still not bad yet,hope tomorrow sustain,if not will see contra player show
Beware when price raise so deastic later drop sharp drop again...and repeat the same mean very unstable...on normal healthy data...it will up or steady at certain support line...it can up for 2 days or even a month later sharp drop again...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ccv2013
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Posted by ccv2013 > 2014-12-15 18:23 | Report Abuse
Starting from tomorrow will be a better day! I think.