Notwithstanding the (unexpected) 9% decline in sales revenue and...

Notwithstanding the (unexpected) 9% decline in sales revenue and the (expected) 20% reduction in net profit for 2012/13, there are, in my opinion, at least 2 very positive aspects contained in this year’s prel. ann. report.

Firstly, the fact that PLN did not take up all the electricity EWC could have produced may be a positive indication for EWC in that EWC may be able to supply the 120MW required for production of 2mtpa lng from its own Sengkang power station.

Secondly, under “assets under construction” this report lists, in part, $268.6 million applicable to the Sengkang LNG plant development; $120.0 million applicable to the Philippines LNG hubs, an indication that these projects are progressing.