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The latest announcement is out from Energy World Corporation Ltd ( (AU:EWC) ).
Energy World Corporation has completed a major balance sheet restructuring, eliminating all group-level borrowings through a US$434 million related-party debt conversion into equity and lifting net tangible assets per share to 18.83 cents. The move increased the stake of major shareholder Energy World International to 53.68%, leaving the group with no external debt and positioning it to advance core LNG and power projects despite a half-year net loss of US$14.56 million and lower revenue following divestment of Indonesian upstream operations.
In the Philippines, independent technical reviews have validated the condition of the Pagbilao LNG hub and 650MW gas-fired plant, and the company is now pursuing project-level equity and debt financing, advised by a US investment bank, to restart construction and tap the growing LNG-to-power market. In Indonesia, EWC is progressing the Sengkang LNG plant by seeking gas supply and offtake agreements after confirming the project’s technical viability, while continuing to sell non-core Australian assets to concentrate capital and management on its flagship LNG and power infrastructure portfolio.
The most recent analyst rating on (AU:EWC) stock is a Hold 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 Australia-based energy infrastructure company focused on liquefied natural gas (LNG) and gas-fired power generation. Its primary assets include the Pagbilao LNG import and storage hub with an adjacent 650MW power plant in the Philippines and the Sengkang LNG production plant in Indonesia, targeting the LNG-to-power markets in Southeast Asia.
Average Trading Volume: 935,645
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$111.7M
For detailed information about EWC stock, go to TipRanks’ Stock Analysis page.