124 Communications upbeat on prospects
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As both local and multinational companies strive to expand ahead of the Asean Economic Community's emergence in three years, 124 Communications Consulting expects a 40-per-cent surge in sales from Bt98 million last year.
“This will be an opportunity for public relations businesses like ours,” chairman Nimitz Modrakee said yesterday.
Regional economic integration will bring more investors and developers from overseas, particularly China, he said.
The PR agency’s focus will remain on local companies that plan to increase in size through mergers and acquisitions as well as energy firms.
Its clients are in major industries such as information technology, telecommunications, aviation, logistics and transport, banking and finance, education, healthcare, construction, automobiles, branded lifestyle products, government, property development, retail and steel.
New accounts for this year include Maybank and Thailand Post.
Nimitz said his company was re-established with his own funds and had no connection with Three Sixty Five (TSF).
A couple of years ago, 124 Communications was listed on the Market for Alternative Investment and was then taken over by local investors and renamed TSF.
TSF focused on out-of-home advertising while taking over other businesses that had high potential, such as energy firms.
For example, last year TSF planned to diversify into distribution of liquefied petroleum gas through acquisition of a 51-per-cent stake in Picnic Corporation, a major LPG supplier to households, for Bt1.63 billion.
However, it ran into difficulties and obstacles including a lack of cooperation from Picnic on due diligence as well as a lack of confidence among investors in the transaction. TSF decided to cancel its bid to take over Picnic.
