“Phuwadon” Plans to Revive IFEC, Aiming to Develop Energy and Public Utility Business

Mr. Phuwadon Suntornwipart, Chief Business Development Officer of Inter Far East Energy Corporation Public Company Limited (IFEC) has revealed the business plans for the first time after officially taking the position by stating that the business development team is operated by two teams; solving team and development planning team.

The new group of IFEC’s executives aims to continue proceeding with the energy business as the company, as a holding company, has strong fundamentals in energy and hotel business to move forward while expecting to expand the operation in public utilities and electricity production from renewable energy.

Moreover, the company will start to develop the project from the beginning of the process (Green Field Development) instead of buying an asset from project developer which requires tremendously high amount of fund, resulting in lower return.

Mr. Phuwadon sees that it is very interesting and there is a high chance of successful to develop a project in the country with policy to buy electricity from alternative energy. The company will initiate the project by using project finance and allow the funding financial institutional audit the project in every single step which will create a transparency operation, benefiting both the company and shareholders.

Currently, IFEC figuratively is a runner thirsting for water and food, thus, the business development is unable to proceed in a faster pace as the company needs to build a solid team by pursuing for high talent executives to join the team. Mr. Phuwadon is confident that once IFEC solves all the issues, the company will be able to show its true potential and performance to compete in the highest level with other companies in the business sector.