2014

Marubeni to Acquire Stakes in Cambodian Generation and Transmission Assets

Jun. 2. 2014
Marubeni Corporation

Marubeni Corporation (“Marubeni”) is pleased to announce that it has made a remarkable step to invest in the power sector in Cambodia.

Marubeni has entered into an agreement with HNG Capital Sdn Bhd (“HNG Capital”) to acquire 20% shares in Leader Infrastructure Limited (“LIL”). LIL owns each of the whole shares in Cambodian Energy Limited (“CEL”) which owns and operates coal-fired power stations (50MW x 2) in Sihanoukville and Cambodian Transmission Limited (“CTL”), which owns and operates the transmission line and substation between Kampong Cham and North Phnom Penh.

Leader Group, which HNG Capital belongs to, is the largest cable and wire producer in Malaysia and South East Asia. Leader Group is also a pioneer of foreign Independent Power Producer (“IPP”) in Cambodia having operated a 35 MW diesel engine power plant in Cambodia since 1997. It was engaged in the development of CEL/CTL since the 2000s and both projects commenced commercial operation in 2013. HNG Capital was seeking for a strategic partner who could contribute positively and enhance the efficient operation of these two projects and decided to invite Marubeni, which was willing to participate in the Cambodian power sector.

Marubeni will contribute positively towards the operation of CEL/CTL and indirectly contribute towards the reliable power supply in Cambodia. Marubeni envisages expanding its power business in Cambodia utilizing its extensive knowledge and experience from its worldwide participation in the power industry together with HNG Capital as a strategic partner having knowledge and experience in Cambodia.

This is the first time for a Japanese company to participate in the Cambodian power market. Marubeni will continue to seek business opportunities in new power markets globally.

 
<Overview of the related parties>

HNG Capital Sdn Bhd

Established: 2001
Main Office: Penang, Malaysia
Outline of Business: Cable and wire production, investment in power sector 
                           and real estate

Leader Infrastructure Limited
Established: 2007
Main Office: Cayman Islands
Outline of Business: Investment in CEL/CTL

Cambodian Energy Limited 
Established: 2009
Main Office: Phnom Penh, Cambodia
Outline of Business: Operation of power plant, sales of electricity
Generating Capacity: 100MW
Fuel: Coal-fired

Cambodian Transmission Limited 
Established: 2009
Main Office: Phnom Penh, Cambodia
Outline of Business: Operation of transmission line and substation

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