|- Acquiring land for plant construction, expand product line, local, overseas client bases to boost growth|
BANGKOK, Dec 20, 2017 - (ACN Newswire) - CPT Drives and Power PCL (SET:CPT), a provider of competitiveness-enhancing electrical power solutions for machinery control, including electrical power control equipment and systems for industrial plants and power substation erection and construction services, commenced trading on the SET on 20 December, 2017.
CPT is confident of firing investors' enthusiasm, given its planned expansion of product lines and industrial client bases both locally and internationally, which is expected to contribute to an annualised growth rate of 10%.
Mr Somsak Limprasert, chief executive of CPT, expressed his confidence in the company's shares (ticker symbol: CPT) which were floated on the Stock Exchange of Thailand (SET) on 20 Dec, following the initial public offering (IPO) of 270m shares (par value: THB 0.50 each) for THB 2.30 each between 13 and 15 Dec, will be immediately warmly received by investors.
CPT has a strong management team with more than three decades of business experience and expertise in a diverse range of machinery control and power systems for efficient design and production of switchgears for machinery at industrial and power plants to facilitate manufacturing activities at large industrial plants, which have allowed it to win the trust of major clients on a long-term basis. It boasts high production cost efficiency due to its own manufacturing facilities, which translate into earnings. For the 9 months (Jan-Sept) of 2017, it posted a net profit of THB 85.64m, a 64.50% y-on-y jump.
CPT aims to use the IPO proceeds to finance its expansion involving acquisition of land for construction of a new plant, procurement of machinery for production of metal clad switchgears (MSCGs) and assembly of ring main units (RMUs) to attract such state enterprises as Electricity Generation Authority of Thailand (EGAT) or Metropolitan Electricity Authority as new clients. It also seeks to collaborate with Danfoss, a Danish firm, in introducing an energy storage system for large industrial plants.
CPT is also stepping up its campaign to market machinery control and power systems internationally, including jointly setting up overseas sales offices to achieve market expansions and win contracts from major industrial clients in Vietnam, Philippines, Indonesia, Myanmar and Cambodia as part of its efforts to tap the trade- and investment-driven growth opportunities in the Asean region.
"We share a vision of securing leadership in production of switchgears and machinery control and power systems with high competitiveness in the areas of pricing, quality, service and technology and with complete customer satisfaction. And we seek to add new product lines to enhance our competitiveness further as well as serve major industrial clients in Thailand and other Asean markets," said Mr. Somsak.
Mr Vicha Tomana, managing director for investment banking, Phillip Securities (Thailand) Public Company Limited, as Financial Advisor and Lead Underwriter, added that CPT is a Thai-owned company with a great potential to grow in Asean, thanks to its position as a Leading provider of machinery control and power solutions for the design and production of switchgears for machinery in industrial and power plants, and to its plan to expand product line and secure new major industrial clients in domestic and overseas markets, which will enhance its competitiveness significantly.
Meanwhile, its business expertise is the decisive factor that leads to major industrial clients' decisions to retain its service on a long-term basis. This highlights its position as a stock with great fundamentals and excellent potential to generate revenue and profit growth from the ongoing economic, trade and investment boom in Asean.
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Topic: Press release summary
From the Asia Corporate News Network
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