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Energy World Corporation Ltd ( (AU:EWC) ) has provided an announcement.
Energy World Corporation has materially strengthened its balance sheet by converting USD434 million of debt to equity, leaving the group with no external debt and enabling a renewed strategic focus on completing its Pagbilao gas-fired power plant and LNG terminal in the Philippines. Over the December quarter, it advanced technical and financial preparations for a planned project-level capital raising, including successful borescope inspections of the Pagbilao turbines with no major defects found, engagement of Manila-based consultants to validate operational and financial models, and securing land for the project’s transmission line, while also progressing discussions in Indonesia, selling non-core land in Australia, and completing an executive transition with a new CEO and CFO in place and long-time executive Brian Allen moving to a non-executive director role.
The most recent analyst rating on (AU:EWC) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Energy World Corporation Ltd stock, see the AU:EWC Stock Forecast page.
More about Energy World Corporation Ltd
Energy World Corporation Ltd is an energy company focused on developing and operating power generation and LNG infrastructure projects, with key assets in the Philippines, Indonesia and Australia. Its primary activities include gas-fired power plants, LNG terminals and associated energy infrastructure, with an increasing emphasis on the Pagbilao power and LNG project in the Philippines as a core growth platform.
Average Trading Volume: 751,566
Technical Sentiment Signal: Sell
Current Market Cap: A$134.8M
Learn more about EWC stock on TipRanks’ Stock Analysis page.