Thai Polycons to issue five-year debentures

Managing director Charoen Chanpalangsri said that in the energy business, the company planned to begin operating a biomass power plant in Nakhon Si Thammarat province in the first quarter of next year. It also plans to open two more biomass power plants this year under its business strategy to have at least four such plants operating by 2014.

For its property business, the company plans to launch a townhouse project worth Bt750 million on Ram-Indra Road. It will open to presales in the fourth quarter of this year.

Meanwhile, its contracting business has continued to grow in line with its target of new construction deals worth Bt5 billion this year. The company has a |backlog of signed contracts awaiting construction worth Bt5.86 |billion, and more than half of that, or Bt3 billion worth, will be delivered to customers and booked as revenue this year. More than half of its total backlog, 58 per cent, is owned by the private sector, Charoen said.

Thai Polycons has jointly bid on projects worth a total of Bt14.5 billion and targets winning contracts for Bt3.5 billion, after successfully getting a deal worth Bt1.4 billion in the first quarter of this year.

"Our contracting deals will generate a net profit margin of 3.5-4 per cent per project value," he said.

The company reported revenue of Bt2.49 billion and net profit of Bt49.16 million last year. Its board of directors has approved a dividend of Bt0.08 per share for its operations in 2011 to those holding shares until May 9, 2012