Summit Power Limited announcements
394 Dhaka Stock Exchange announcements for Summit Power Limited (SUMITPOWER) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (18).
- Continued operation of Ashulia, Chandina and Madhobdi power plants
The company has informed that the process of negotiating tariff and other terms and conditions for the renewal of PPA, for a period of 5 (five) years effective from November 22, 2023, with BREB has successfully implemented on November 21, 2023. The company has also informed that it has resumed operation of Ashulia, Chandina and Madhobdi 10(+/-)10% MW (each) power plants effective from November 22, 2023. The execution of renewed PPA shall be completed in due course and the same will be notified accordingly.
- Further to their letters, under references SPL/BSEC/2022/02/1876 dated 8th February 2022 and SPL/BSEC/2022/12/2088 dated
Further to their letters, under references SPL/BSEC/2022/02/1876 dated 8th February 2022 and SPL/BSEC/2022/12/2088 dated 5th December 2022 to BSEC, the company has informed that the 1st Amendment to the Power Purchase Agreements (PPAs), for the Supply of Electricity for period of 5 (five) years were successfully executed on 8th November 2023 by Bangladesh Rural Electrification Board (BREB) on \"No Electricity, No Payment\" i.e. without any (cont.)
- 1st Amendment to the PPAs of three power plants with BREB
(Continuation news of SUMITPOWER): guaranteed offtake basis, for following power plants of Summit Power Limited (SPL): Madhabdi Power Plant Unit-2 (24.3MW) effective from 7th February 2022 to 6th February 2027; Chandina Power Plant Unit-2 (13.5 MW) effective from 7th February 2022 to 6th February 2027; Ashulia Power Plant Unit-2 (33.75 MW) effective from 4th December 2022 to 3rd December 2027. (end)
The first part of this announcement is missing from the archive. - The company has informed that due to prevalence of volatile foreign exchange situation resulting steep devaluation of BD
The company has informed that due to prevalence of volatile foreign exchange situation resulting steep devaluation of BDT against USD, coupled with delayed settlement of monthly bills by BPDB, the lone vendor, Summit Oil & Shipping Co. Ltd. (SOSCL), has been facing acute fund shortage for additional cost while settling its LC obligations for import of Heavy Furnace Oil (HFO) and supply to power plants (cont.1)
- (Continuation news of SUMITPOWER): of Summit Power Limited (SPL) and its subsidiaries, namely, Summit Barisal Power Limi
(Continuation news of SUMITPOWER): of Summit Power Limited (SPL) and its subsidiaries, namely, Summit Barisal Power Limited, Summit Narayanganj Power Unit II Limited, Ace Alliance Power Limited and Summit Gazipur II Power Limited. In order to keep the plants operative to ensure uninterrupted supply of electricity, SPL obtained shareholders\' approval in its AGM held on 28th October 2022 for extending required fund support to SOSCL to meet the additional cost due to foreign exchange fluctuation. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of SUMITPOWER): This issue relating to foreign exchange cost was brought to the notice of BPDB and re
(Continuation news of SUMITPOWER): This issue relating to foreign exchange cost was brought to the notice of BPDB and relevant ministry (MOPEMR) collectively with Bangladesh Independent Power Producers Association (BIPPA) and finally got assurance from all concerned authorities for compensating power plants appropriately for exchange fluctuation between billing rate and the rate prevail on the date of payment by BPDB. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of SUMITPOWER): Based on this assurance, SPL submitted supplementary bill for true up amount. However
(Continuation news of SUMITPOWER): Based on this assurance, SPL submitted supplementary bill for true up amount. However, fact of the matter is that, the issue is yet to get the approval of final authority in the process and it is not expected to be resolved soon following procedures involved in the process. In this situation it is quite difficult now to close the books and complete finalization of annual financial statements (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of SUMITPOWER): for the year ended on 30th June 2023 that could be considered a true and fair view of
(Continuation news of SUMITPOWER): for the year ended on 30th June 2023 that could be considered a true and fair view of company\'s affairs based on International Financial Reporting Standards (IFRSs) before a clear indication of BPDB\'s decision on company\'s claims is received. Considering the facts as above, it will not be possible to meet the deadlines for submission of audited financial statements for the year ended on 30th June 2023 as (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of SUMITPOWER): well as for the un-audited financial statements for the first quarter ended on 30th S
(Continuation news of SUMITPOWER): well as for the un-audited financial statements for the first quarter ended on 30th September 2023 following regulatory provisions as required. In this connection the company has informed that Bangladesh Securities and Exchange Commission (BSEC) vide its letter under reference BSEC/Corp. Ref//243/2005/part-V/1635 dated 03 October 2023 has given consent extending the time up-to 31 December 2023 (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of SUMITPOWER): for submission of audited financial statements for the year ended on 30 June 2023 (ag
(Continuation news of SUMITPOWER): for submission of audited financial statements for the year ended on 30 June 2023 (against the schedule date of 28 October 2023) and first quarterly un-audited financial statements for the period ended on 30 September 2023 (against the schedule date of 14 November 2023). The company has also informed that they will be able to prepare the set of financial statements for the year ended on 30 June 2023, (cont.7)
The first part of this announcement is missing from the archive. - Time extension to submit annual and 1st quarter financial statements
(Continuation news of SUMITPOWER): including completion of audit therein, and for the first quarter ended on 30 September 2023 and submit and/or publish the same within approved extended time-frame of 31 December 2023. (end)
The first part of this announcement is missing from the archive. - The company has informed that the 5 (five) year extended period of Power Purchase Agreement (PPA) on \"No Electricity No
The company has informed that the 5 (five) year extended period of Power Purchase Agreement (PPA) on \"No Electricity No Pay\" basis of Ashulia, Chandina and Madhobdi power plants, each having 10(+/-)10\% MW capacity, with Bangladesh Rural Electrification Board (BREB), have expired on August 31, 2023. The Company is now in the process of negotiating tariff and other terms and conditions for the renewal of PPA with BREB.
- Q3 Financials
(Q3 Un-audited): Consolidated EPS was Tk. 0.48 for January-March 2023 as against Tk. 0.83 for January-March 2022; Consolidated EPS was Tk. 2.05 for July 2022-March 2023 as against Tk. 2.85 for July 2021-March 2022. Consolidated NOCFPS was Tk. 4.82 for July 2022-March 2023 as against Tk. 4.03 for July 2021-March 2022. Consolidated NAV per share was Tk. 37.68 as on March 31, 2023 and Tk. 35.72 as on June 30, 2022.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on April 30, 2023 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2023.
- Credit Rating Result
Credit Rating Information and Services Limited (CRISL) has rated the company as 'AAA' in the long term and 'ST-1' in the short term along with Stable outlook in consideration of its audited financials up to June 30, 2022 also unaudited financials up to December 31, 2022 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Q2 Financials
(Q2 Un-audited): Consolidated EPS was Tk. 0.76 for October-December 2022 as against Tk. 1.00 for October-December 2021; Consolidated EPS was Tk. 1.57 for July-December 2022 as against Tk. 2.02 for July-December 2021. Consolidated NOCFPS was Tk. 2.02 for July-December 2022 as against Tk. 2.78 for July-December 2021. Consolidated NAV per share was Tk. 37.31 as on December 31, 2022 and Tk. 35.72 as on June 30, 2022.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on January 30, 2023 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2022.
- Appointment of Managing Director
The Company has informed that the Board of Directors has appointed Engr. Md. Mozammel Hossain as the Managing Director of the Company for a period of one year commencing from January 01, 2023.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.