Company History

2016

April

  • By resolution of the Annual General Meeting of Shareholders 2016 held on 8 April 2016, approved the listing of Chow Energy Co., Ltd. on the Stock Exchange and approved the allocation of 95,000,000 new ordinary shares each of Baht 0.50 per share representing 25% of a total of 380,000,000 new ordinary share to the Company’s existing shareholders based on their preemptive rights

June

  • Registered Chow Energy Co., Ltd as a public company under the name "Chow Energy Public Company Limited" and changed its par value from 10 baht per share to 0.50 baht per share.

October

  • An Indirect subsidiary has been given a project finance approval from Bangkok Bank, the total amount of 1,513 million yen for 4 solar power plants in Japan with a capacity of 4.7779 MW.
  • An Indirect subsidiary has been given a financial loan approval from EXIM Bank, the total amount of 9,880 million yen for the construction for 2 solar power plants in Japan with a capacity of 38 MW.
  • An Indirect subsidiary has been given a financial loan approval from EXIM Bank, the total amount of 1,307 million baht for equipment purchases for 6 solar power plants in Japan with a capacity of 8.74MW.

September

  • Fukui7 project with capacity of 587.68 kW start COD

November

  • Solar Rooftop projects with capacity of 6.64MW start COD
  • Relocated its Office

2015

February

  • The Company set up 3 new indirect subsidiaries: 1. Sun Partner Japan GK (“SUN”) 2. Good Solar GK (“Good”) and 3.Next Energy GK (“Next”) in Japan with initial registered capital of 10,000 Yen, Premier Solution Japan KK (“PSJP”) holds 100% for the purpose of supporting investment in an 18 megawatts solar power plant in Japan, in accordance with the resolution of the Board of Directors meeting No.1/2014 on 17 January 2014.
  • By resolution of the Board of Directors Meeting No.1/2015 held on 17 February 2015, the Company approved the additional issuance of the bill of exchange at any time from less than 2,000 million Baht (Two Thousand Million Baht) to less than 3,000 million Baht (Three Thousand Million Baht) to serve as investment budget for subsidiaries and the renewable energy business.
  • By resolution of the Board of Directors Meeting No.1/2015 held on 17 February 2015, the company approved the increase of registered capital of Chow Energy Co., Ltd. (“CE”) from 221,536,980 Baht to 570,000,000 Baht.
  • RICI, a joint venture company invested in a solar power plant in Japan a capacity of 27.22 megawatts with the total value of 2,872.30 million Baht.
  • By resolution of the Board of Directors Meeting No.1/2015 on 17 February 2015, the Company approved for Chow Energy Co., Ltd. (“CE”) registration as a public company limited and listing on the Stock Exchange of Thailand or Market of Alternative Investment.

May

  • By resolution of the Board of Directors Meeting No.2/2015 held on 15 May 2015, the Company approved the appointment Ms. Mai Wai Koo as the Chief Executive Officer in place of Mr.Anavin Jiratomsiri resignation to the Chief Executive Officer of Chow Energy Co. Ltd. (“CE”) a company’s subsidiary that operates in a Holding Company be holding shares in other entities engaging in business relating to investment in production and distribution of electricity from various kinds of energy.
  • By resolution of the Board of Directors Meeting No. 2/2015 held on 15 May 2015, the Company approved the establishment of indirect subsidiaries in Philippines. The objective is to investment opportunities in Philippines.

June

  • Oita solar power project in Japan has been completed and ready to COD on June 5, 2015 with a capacity of 3.2604 megawatts.
  • By resolution of the Board of Directors Meeting No. 3/2015 held on 9 June 2015, the Company approved to invest in the solar power plants in Philippines approximately 25 megawatts with the total value of about 1,500 million Baht.

August

  • By resolution of the Board of Directors Meeting No. 4/2015 held on 13 August 2015, the Company approved to invest in the solar power plants in Japan (Phase 2) approximately 15 megawatts with the total value of about 1,215 million Baht.

September

  • On September 9, 2015 awarded the project CSR-DIW Award 2015 (Standard for Corporate Social Responsibility and Department of Industrial Works), Corporate Social Responsibility from the Ministry of Industry.
  • Ibaraki solar power project in Japan has been completed and ready to COD on September 10, 2015 with a capacity of 1.2 megawatts.
  • On 21 September 2015, COD 3 solar power projects in Japan thus Nogata project a capacity of 1.0 megawatts, Goryo project a capacity of 1.50 megawatts, and Shibushi project a capacity of 1.0 megawatts.
  • By resolution of the Board of Directors meeting No. 5/2015 held on 28 September 2015, The Company approved Chow International Co., Ltd. (“CI”)to invest in solar power plant project in Japan with a capacity of 50 megawatts. The investment proportion between BCP or affiliates and PEA Encom is 30:60:10 And approved a joint-venture company established in Thailand to provide management service for solar power plant project in Japan. The investment proportion between Premier Solution Co.,Ltd. (“PSCL”) and Bangchak Solar Energy (Buriram) Co., Ltd. is 40 : 60.

November

  • On 20 November 2015, Hamada 1 solar power projects with a capacity of 11 megawatts are ready to COD.

2014

January

  • By resolution of Board of Directors meeting No. 1/2014 on 17 January 2014, the Company invested in a solar power plant in Japan, with a capacity of approximately 18 megawatts, through Chow International Co. Ltd. (“CI”), a subsidiary, and appointed Premier Solutions Company Limited (“PSCL”) as the project developer.
  • By resolution of Board of Directors meeting no. 1/2014 on 17 January 2014, the Company set up Premier Solutions Japan Company Limited (“PSJP”). The objectives are the development of a solar energy power plant indirectly through a subsidiary in Japan, business expansion, investment in a business showing potential, and risk diversification. The Company holds 81% of the registered capital through Premier Solutions Co. Ltd., with initial registered capital of 10,000 yen.

April

  • By resolution of Board of Directors meeting no. 4/2014, on 22 April 2014, the Company approved the acquisition by Premier Solutions Japan Co. Ltd. (“PSJP”) of a 100% stake in AE Solar Godo Kaisha (“AE Solar”) with a value of 10,000 yen. The objective is to support investment in a solar energy power plant in Japan, with a production capacity of 18 megawatts, in accordance with the resolution of Board of Directors meeting no. 1/2014 on 17 January 2014. Since AE Solar has received approval from the Japanese Ministry of Economy, Trade and Industry (METI) to sell electricity produced from solar energy to the electric companies, the acquisition of AE Solar has had the effect of allowing the group to receive thisli cense through indirect means.
  • Chow International Co. Ltd. (“CI”), a company in the group, increased its registered capital from 50,000,000 baht to 130,000,000 baht in order to support investment in the solar energy project in Japan with a capacity of 18 megawatts, in accordance with the resolution of Board of Directors meeting no. 1/2014 on 17 January 2014. This increase in capital is to support the settlement of costs incurred by CI in this project.

August

  • By the resolution of Board of Directors meeting no. 6/2014, on 7 August 2014, the Company gave approval to Premier Solutions Co. Ltd. (“PSCL”), a company in the group, to increase its registered capital from 5,000,000 baht to 7,100,000 baht by issuing 21,000 ordinary shares, at a price of 100 baht per share, to existing shareholders in proportion to their holding. The Company forgoes its right to purchase ordinary shares in PSCL.
  • By the resolution of Board of Directors meeting no. 6/2014, on 7 August 2014, the Company gives its approval for the issuance and offering of bills of exchange by private placement of no more than 10 bills at any one time in order to enhance the financial liquidity of the Company to an amount not to exceed 1 billion baht.

September

  • By resolution of Board of Directors meeting no. 7/2014, on 12 September 2014, the Company gave approval for Chow International Co. Ltd. (“CI”) to to sign a shareholders’ agreement to proceed with the establishment of a joint venture company in Singapore in order to invest in the production of solar energy in Japan, with a total capacity of approximately 33 megawatts. Approval was also given to Premier Solutions Co. Ltd. (“PSCL”) to sign a shareholders’ agreement to proceed with the establishment of a joint venture company in Thailand in order to provide management services to the solar energy electricity production project in Japan.

October

  • By resolution of Board of Directors meeting no. 8/2014, on 17 October 2014, the Company approved an increase in the registered capital of Premier Solutions Japan Co. Ltd. from 10,000 Japanese yen to 100,000,000 Japanese yen in order to support investment in the 18-megawatt solar energy project in Japan in accordance with the resolution of Board of Directors meeting no. 1/2014, on 17 Janu ary 2014.
  • By resolution of Board of Directors meeting no. 8/2014, on 17 October 2014, the Company approved an increase in the value of the bill of exchange offering in order to raise funds for investment in subsidiaries and the alternative fuels business from a total not to exceed 1 billion baht at any one time to a total not to exceed 2 billion baht.
  • The formation of Oversea Green Energy Co. Ltd. (“OGE”), a joint venture company, was completed on 20 October 2014.

November

  • The Kyotango Solar Power Plant in Japan, which has a production capacity of 4.019 megawatts (DC) started selling electricity commercially on 12 November 2014.
  • The allocation and sale of 21,000 ordinary shares in PSCL (29.58% of the paid-up capital of PSCL after the offering) was made to Mr. Sung Ko, Managing Director of PSCL, at a selling price of 763.21 baht (face value 100 baht per share) at a total of 16,027,410 baht. The price was mutually agreed and higher than the price calculated by net present value method of 761.38 baht per share given by Finnex Advisory Co. Ltd.
  • The formation of RICI Co. Ltd. (“RICI”), a joint venture company, was completed on 21 November 2014.

December

  • By resolution of Board of Directors meeting no. 10/2014, on 1 December 2014, the Company resolved to establish Chow Energy Co. Ltd. (“CE”) with registered capital of 221,536,980 baht, through 22,153,698 ordinary shares with a face value of 10 baht per share in order to revise the shareholding in the Company’s subsidiary group.
  • By resolution of Board of Directors meeting no. 10/2014, on 1 December 2014, the Company gave approval for Chow International Co. Ltd. (“CE”) to purchase all shares in Premier Solutions Co. Ltd. (“PSCL”), a total of 71,000 shares at a price of 761.38 baht per share. The selling price is a fair value based on the net present value calculated by the Company’s financial advisers.
  • By resolution of Board of Directors meeting no. 10/2014, on 1 December 2014, the Company approved the purchase by Chow Energy Co. Ltd. of all shares in Chow International Co. Ltd. (“CI”), a total of 1,300,000 shares at the price of 128.83 baht per share. The selling price is a fair value based on the net present value calculated by the Company’s financial advisers.
  • The Company set up 3 new indirect subsidiaries: 1. Premier Solutions German Co. Ltd. (“PSGM”) in Germany, for the purpose of project insurance and quality assurance of alternative fuels projects; 2. Sun Energy Co. Ltd. (“Sun”); and 3. Sol Power Co. Ltd. (“Sol”) in Japan with initial registered capital of 10,000 Japanese yen, for the purpose of supporting investment in an 18-megawatt solar power plant in Japan, in accordance with the resolution of Board of Directors meeting No. 1/2014 on 17 January 2014.

2013

  • Company established Chow International Company Limited with registered capital of 50 million Baht. The objective is to invest in renewable energy in Thailand and overseas, with capital of 41.5 million Baht or 83% of registered capital. Premier Solution Company Limited was also established with registered capital of 5 million Baht with the objective to locally and internationally provide consult related to renewable energy investment, develop renewable energy project, as well as provide operation and maintenance service to completed projects. Capital investment is 4.05 million Baht or 81% of registered capital. Company aims to invest in potential business and diversify risk to alternative fuel business that ensures sustainable revenue flow for company in the future.

2012

  • Certificate of Green Industry form Ministry of Industry, 1st level (Green Commitment), committed to minimize effects to environments and applied corporate communication to createawareness.
  • Certificate of Green Industry from Ministry of industry, 2nd level (Green Activity), implemented activates to minimize effects to environments.
  • Certificate of Corporate Social Responsibility-Department of industrial Works (CSR-DIW) from Ministry of Industry regarding responsibilities toward societies.

2011

  • Registered a branch located at No. 518/3 Moo 9, Nongkee Subdistrict, Kabinburi District, Prachinburi.
  • Increased paid-up capital to 800 million Baht by initial public offering in a total amount of 200 million shares, and listed its stock on the Market for Alternative Investment (mai) on 21 December 2011.

2010

  • Acquired ordinary shares of Vertex Logistics Services Co., Ltd., which operates in-land goods transport business, in a total amount of 7.2 million Baht, representing 40% of paid-up capital of 18 million Baht, in order to boost the Company’s logistic service potential in delivering its products to the customers.
  • Obtained the ISO 9001:2008 Certificate from the Bureau Veritas Certification for the Manufacturing of Steel Casting which is due to expire on 28 December 2013.

2009

  • Became a member of London Metal Exchange (LME), which is a world futures market, under the name of CHOW KABINBURI. Its SWORD Codes shall be called differently depending on the location of the warehouse: CHOWFE for Far East contracts and CHOWME for Mediterranean contracts.
  • Registered as a public company limited under the name “Chow Steel Industries Public Company Limited” and changed its par value from 100 Baht per share to 1 Baht per share.

2008

  • Obtained the ISO 9001:2000 Certificate from the Bureau Veritas Certification for the Manufacturing of Steel Casting. The certificate expired on 28 December 2010.
  • Increased paid-up capital to 600 million Baht via rights issue to the existing shareholders, the proceeds from which would be used for construction phase 2 factory.
  • Started production of Phase 2 factory with a maximum production capacity of 480,000 tons per year, thus making up a total production capacity of 730,000 tons per year.

2007

  • Received a Promotion Certificate no. 2228(2)/2550 from the BOI for manufacturing steel billets under phase 2, thereby the Company has been granted corporate income tax holiday for 8 years and 50% reduction of corporate income tax on net profit earned from the promoted activities for 5 years.

2005

  • Received a Promotion Certificate no. 1337(2)/2548 from the Board of Investment (BOI) for manufacturing steel billets under phase 1, thereby the Company has been granted corporate income tax holiday for 8 years and 50% reduction of corporate income tax on net profit earned from the promoted activities for 5 years.
  • Started commercial production of phase 1 factory with a maximum production capacity of 250,000 tons per year.

2004

  • Started construction of the factory which is located at No. 518/1 Moo 9, Nongkee Subdistrict, Kabinburi District, Prachinburi.

2003

  • Chow Steel Industries Co., Ltd. was established with an initial registered capital of 400 million Baht to produce and distribute steel billets.