SiamEast counts down to MAI trading debut after public offering

 The company highlighted its capacity to supply three categories of industrial products and services and tap opportunities created by investments in upcoming big projects in the country’s Eastern Economic Corridor.
 It will build a workshop in Rayong to expand operations in services, such as machinery coating, fabrication of insulation material for machinery and equipment, assembly and repair of water and fluid pumping products and piping equipment. The investment is expected to boost revenue growth.
Chief executive Orasa Vimolchalao announced the date for its trading debut after the company completed an initial public offering of 60 million shares at Bt2.45 each. Osara said there had been strong interest from investors during the IPO, held from Monday to yesterday.
The expansion project involves the construction of a 1,750 square metre workshop at its Rayong premises. The move will enable the company to improve its integrated services and increase boost revenue from services to industrial firms while meeting the demand for industrial products.
The company notes that the number of industrial plants are projected to rise in 2017 on improved investor sentiment stemming from the government’s stimulus spending.
Implementation of the Eastern Economic Corridor development in Chon Buri, Rayong and Chachoengsao provinces is also expected to benefit the company.
The project will bring more investment into the area, which will create ample opportunities for SE to increase sales and service revenues, Orasa said.
Saengpet Tantaatipanit, SE’s managing director, said the three product lines that the company supports are in high demand.
Water and fluid products and technologies are used in industrial plants, hotels, hospitals, high-rise buildings and the government’s water management projects, including centrifugal pumps for transmission of low-viscosity transparent fluids and positive displacement pumps for high-viscosity fluids.
It process and piping solutions include process equipment, mass transfer equipment and piping and accessories.
Saengpet said SE’s innovative material and supplies business serves manufacturing and maintenance and repairs activities, including adhesives, sealants, coating materials, occupational health and safety products and the fabrication of insulation covers and coating material. The company performs quality assurance and other inspections before delivering products to customers.
SE’s sales and service revenues for the first nine months of 2016 stood at Bt314.4 million, a 10.8 per cent year-on-year rise from Bt283.45 million.
The debt-to-equity ratio as at the end of the third quarter of 2016 was 0.63.