Retailer Thanapriya lists on MAI, sets an example for local firms

"This is a great achievement for a local company that can raise funds from the public. It has proved that local firms have high potential to list in the market and expand their businesses to international standards," Deputy Commerce Minister Suvit Maesincee said yesterday. He said more local firms in various sectors such as food and farming, retail and wholesale be also supported to become public firms in the near future.

Thanapiriya is one of the selected companies under the Business Development Department’s training project since 2012 for helping local retailers and wholesalers develop their business operation standard, and create trading connection. The firm has become a public firm since April this year with an initial capital of Bt200 million, and is traded on the MAI since Wednesday at a par value of 25 satang per share for the public, and Bt1.80 for the initial public offering.

The firm this year expected to achieve total sales of Bt1.2 billion, expected to grow by 12 per cent each year from now.

Thawatchai Phutthiphiriya, managing director of the company, said the firm planned to spend its funds on expanding the business in 18 districts in Chiang Rai province and also in the northern provinces, and along the border provinces in the future.

This year, it will set up a new distribution centre with about 10,000 square metres of space to serve its supermarkets in Chiang Rai. The company currently has 11 supermarkets and one wholesale trading store in eight districts of Chiang Rai. It plans to expand at least three more supermarkets this year, and others to cover all 18 districts in the next few years.

With the upcoming Asean integration, Thawatchai expected that his firm would also benefit from the seamless trade and would have great opportunity to expand business to other Asean countries in the future.

Pongpun Gearaviriyapun, director-general at the Business Development Department, said the department would continue to promote more local firms, especially SMEs, to list in the market and expand business overseas.

The Thanapiriya case will be used as an example to encourage more enterprises to develop their operations and governance standards so that they can become successful companies in the future.

So far, the department has helped develop 88 retailers and wholesalers, which have more than 300 network shops nationwide to become strong local retailers and wholesalers so that they can compete with modern traders, she added.