Jaymart plans MAI listing for JAS Asset next year
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Major handset retailer Jaymart plans to list its subsidiary JAS Asset on the Market for Alternative Investment in the third quarter of next year to raise funds for expansion of its IT community mall business.
Jaymart established JAS Asset Co last year to manage the rental areas.
Chief executive officer Adisak Sukumvitaya said that Jaymart still targeted revenue growth of 40 per cent from Bt8.16 billion last year, driven by the rising demand of smart phones and the expansion of its retail shops.
The launch of broadband cellular service on the 2.1-gigahertz spectrum by the three
holders of licences granted by the National Broadcasting and Telecommunications Commission early this year has also contributed to the growing demand of smart phones.
“We’ve maintained the revenue-growth target in line with the bright prospects of the tablet and smart-phone market, especially in the second half,” he said.
He forecast continued growth of revenue for Jaymart in the current third quarter.
The company had planned to have 280 retail branches in Thailand this year, but has reduced this to 250-255. In Myanmar, however, it will expand its handset outlets to 20 from the present three before rising to 90 in three years.
Jaymart’s consolidated net profit for the second quarter stood at Bt95.40 million, compared with Bt68.91 million in the same period last year. Its revenue from sales and services for the quarter was Bt2.392.48 billion, up from Bt1.816.07 billion.
