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Published on March 13, 2008

"Revenue will exceed Bt1.5 billion this year and Bt2.5 billion next year," said managing director Panom Kuansataporn.

AGE has a 2-per-cent share of the total coal trade in Thailand. Panom said if the company hits its revenue target, it would increase its market share to 5 per cent this year.

Banpu is now the largest player, controlling 80 per cent, followed by Lanna with 12 per cent and UMS with 6 per cent.

Affiliated to the Kok Haud Group - a supplier and distributor of coal, palm husks and biomass power for more than 50 years - AGE was established in 2004 to provide coal to industrial customers who are switching from biomass energy. Last year, its revenue was Bt957 million, up from Bt500 million in 2006.

Industrial plants are resorting to more coal energy because of the cheaper price compared to other fuels including bunker oil. AGE now supplies coal to 200 customers, mostly small and medium-sized manufacturers in the textile, paper, ethanol and flour industries.

AGE yesterday signed a three-year Bt7 billion contract for the supply of 3 million metric tonnes of bituminous coal from Indonesia-based CIF Trading.

Geared to list on the Market for Alternative Investment about mid-year, AGE also plans to spend more than Bt100 million on a new coal yard, to cut logistics costs and improve warehouse efficiency.

Somphob Sakpunpanom, CEO of Asset Pro Management, the company's financial adviser, said AGE would file a listing application next month. AGE's paid-up capital is now Bt105 million.

Chalida Ekvitthayavechnukul

The Nation