Unique Engineering secures Bt18 bn loan for rail line
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Unique Engineering and Construction has secured an Bt18-billion project loan from Krungthai Bank and KTB Leasing to finance the construction of the Bang Sue-Rangsit section of the SRT Red Line.
Unique chairman Natee Panichewa said yesterday that KTB would provide a four-year term loan of Bt15 billion while KTB Leasing would provide Bt3 billion for machinery leasing with a five-year term.
Unique has won a Bt29.83-billion civil works contract from the State Railway of Thailand for the Bang Sue Grand Station and depots.
The company has a backlog of Bt40 billion, of which Bt8 billion will be realised as revenue this year and about Bt15 billion next year.
The company plans to increase its order book to Bt80 billion this year.
It will join the bidding for state projects worth Bt250 billion including the double-tracking project, the six lines planned by the Mass Rapid Transit Authority of Thailand, the Bang Pa-in-Nakhon Ratchasima Motorway, and the second phase of Suvarnabhumi Airport.
“We aim to win 25-30 per cent of those projects, which will help ensure revenue in 2014 of Bt15 billion to Bt20 billion,” he said.
Unique’s stock closed at Bt7.75 yesterday, up 2.65 per cent from Friday.
Pinyawat Chantrakantanond, managing director of KTB Leasing, said leasing to enterprises was part of its growth strategy. Its enterprise portfolio has climbed to Bt25 billion from Bt16 billion at the end of last year.
The company has focused on machinery leases to businesses, he said.
Leasing to corporate customers accounts for half of the total portfolio. The company targets new loans of Bt40 billion to drive total assets to Bt60 billion this year.
Even though economic growth is likely to taper off, demand for machinery leases is growing as business operators prepare to ramp up their production ahead of the Asean Economic Community.
