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NEW UPDATES Asean Affairs  7 October  2015  

Shell’s Philippine unit preparing for IPO in 2016

THE Philippine unit of Royal Dutch Shell Plc said on Monday it was looking to launch a long-delayed initial public offering sometime next year, and may sell even more than the minimum requirement of 10 per cent of common stock.

“We’re getting ready for it,” Shell Philippines Country Chairman Edgar Chua told reporters on the sidelines of a Shell event. “We’ve discussed it with the (Department of Energy), it’s just a question of timing.”

Pilipinas Shell Petroleum Corp, which operates one of the country’s two refineries, is required under a nearly two-decade local law to conduct an IPO. The company had previously cited unfavourable market conditions and the need to upgrade its local refinery in deferring a share sale.

Shell’s refinery upgrade is underway and could be completed hopefully by the middle of November, Chua said.

The IPO proceeds could be used to pare debt or finance capital expenditure, he said.

Shell is also pursuing plans to set up a local LNG import facility and on Monday switched on a new offshore platform for its Malampaya natural gas production in the southwestern part of the Philippine archipelago. The new platform ensures that natural gas will continue to fuel three power plants in the region.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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