OMH 1.16% 43.5¢ om holdings limited

Hi naudrehc welcome aboard. OMH isn't exactly renowned for...

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    Hi naudrehc welcome aboard.
    OMH isn't exactly renowned for giving out information via the ASX, so I haven't noted any announcement via OMH actually stating that they have obtained the extra 100MW. Rather a lot of the information comes via their partner Cahya Mata, and sometimes its OMH speaking directly to the press in Malaysia.

    ie
    RHB Research saw that CMS is eyeing more energy-intensive industry projects as phase 2 of OMS is now being planned.
    It has received an approval from Sarawak Energy for another 100MW of electricity supply. “For Phase 2, management plans to build another four sets of 30MVA manganese alloy furnaces — capacity yet to be disclosed — targeted to commence operations in 2021,” RHB Research added.
    “Overall, project cost is expected to be circa US$150 million.
    https://www.theborneopost.com/2019/02/20/analysts-predict-good-year-to-come-for-cms/

    Back in November last year it was also mentioned
    "OM Sarawak has recently secured an additional 50MW, bringing total supply from Sarawak Energy Bhd (SEB) to 350MW to support its smelter’s high production rates. It is seeking an additional 100MW, which according to OMH, has been agreed in principle but is subject to the necessary approvals."
    https://www.thestar.com.my/business/business-news/2018/11/19/om-sarawak-plans-rm61mil-plant/

    OMH did state this in a presentation
    http://www.omholdingsltd.com/news_announce18/30.pdf


    The extra power was available as Pertama another ferro alloy producer wasn't using their original allocation.

    "AML’s Pertama Ferroalloys smelting is paying for power it can’t use. AML’s Hirotaka Suzuki said the company could only consume 145 MW out of 170 MW under a 20-year power purchase agreement between the company and Sesco, the Malaysian power company, and was forced to pay RM4-million per month for the surplus 25W under a “take or pay” clause. Under the deal, Pertama agreed to buy 270 MW, 170 MW under phase one and an additional 70 MW under phase two at preferential prices.
    The matter is now being mediated"

    I assume this  extra 100MW thats been allocated to OMH has been taken off Pertama. Their original deal was for 270 MW and they're only consuming 145MW.

    We should get more info in the Quarterly report and the Annual Report, both due shortly.
 
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