Wed, July 06, 2022

business

Sahathai raises funds for expansion


Sahathai Terminal or "PORT" plans to invest over Bt800 million to expand its commercial port capabilities.

Chief executive officer Sauwakun Karuchit said the company, established in 2008, has continuously grown and is now one of Thailand’s leading private port operators. It provides full commercial port services and logistics solutions for both international feeders and domestic barges by capitalising on its strategic location in Poochaosamingprai, Samutprakarn, she said.
Its services include integrated port services for both feeders and barges; inland container transport in the Bangkok metropolitan area and to Laem Chabang port; container yard and warehouses for global automotive and e-commerce customers, and related services such as container depot, freight forwarding, and a container freight station that supports the requirements of both exporters and importers.
The company has partnered with Mitsui OSK Lines (MOL) to set up a joint venture company, Bangkok Barge Terminal (BBT). BBT has been granted by Thai Customs Department, an inland container depot (ICD) licence for river ports, which makes BBT Thailand’s first river port ICD, to provide services to commercial barges.
In addition, it set up another joint venture, Bangkok Barge Service with Mediterranean Shipping Company (MSC), which is world’s leading shipping line to provide domestic barge services. These partnerships will create better services for its customers, with state of-the art technology and equipment and strong professional team, she said.
“We have expanded our capabilities to support future business growth driven by the government’s EEC and Mega Projects [initiatives], which will increase the volume of export and import goods significantly," Sauwakun added.
The company's deputy CEO, Banchai Karuchit, said: “The company plans to raise fund by offering Initial Public Offering to investors and list our shares in MAI market this year. We have achieved continuously growing Business Results. We have revenues of Bt1.080 billion in 2016, up from revenues of Bt841 million in 2015 and Bt830 million in 2014.
“This is a result of strong increase of container volumes and growing warehouse rental revenues each year. Our net profit were Bt74 million in 2016, Bt25 million in 2015 and Bt36 million in 2014, respectively,".
For the first six months of 2017, revenue totals 644 million baht, up from 480 million baht in same period last year. However, net profit recorded 11 million baht, compared with 35 million baht the same period last year. This is primarily due a loss from subsidiary company, Bangkok Barge Terminal, which just started operating in November 2016. At present, the company has a registered capital of 230 million baht, with a paid capital of 170 million baht ( a 0.50 baht par value).
Montree Sornpaisarn, chief executive officer, May Bank Kim Eng Securities (Thailand) adds: “As its financial advisor, we believe that Sahathai Terminal Plc’s IPO will be very interesting to investors for many reasons. The company has strong business fundamental and is in the ever-growing logistics industry.
May Bank plans to offer 120 million IPO shares of Sahathai or 26.09 per cent of total shares after the IPO in November this year.

Published : October 11, 2017

By : The Nation