Investors
In 2023, the Company had to face many challenges, such as global economy and geopolitical conflicts, leading to increasing interest rates by central banks in many countries worldwide to reduce the higher level of inflation. Despite the gradual reduction of interest rates at the end of 2023, the overall interest rates remained high, in line with the challenges of fluctuating exchange rate and climate change problems, which greatly affected the Thai economy. Meanwhile, there were domestic factors, e.g. uncertain government policies, higher interest rates in accordance with the world economy, and continual increasing prices of consumer products.
Despite the domestic and global economic challenges and fluctuations which affected service costs and higher market competition, the Company can still cope with various situations under its commitment for operations and development in personnel and equipment at work in compliance with the Company’s strategies. Thus, the Company recorded an increase in profits from the previous year in 2023.
For ship repair services in 2023, the Company obtained two large projects of ship repair with higher costs from government agencies. Despite high competition in the market of the private sector, the Company was able to manage its operations according to its plans as well as receiving the highest revenue in 5 years from ship repair and delivery. With regard to ship building this year, the Company delivered a tug ship, the Luang Ta Chai Ship, to the Navy as scheduled. Also, the Company was selected in the bidding of one hydrographic ship build for the Navy, worth 885.00 million baht, with scheduled delivery in 2025.
In 2024, the Company continues its efficient operations, in line with the study and research for various innovations toward continual ship repair and ship building. The Company also seeks new business opportunities to satisfy all groups of stakeholders, including innovations for the environment, such as developing ship hulls from recycled materials which are lighter than traditional ones, but stronger. The materials also help reduce the Carbon Footprint from the production process.
For future situations or impacts, the Company still adheres to conducting its business under the concept of sustainable development by integrating such concept as part of its operations. The Company also creates balance in economy, society, and environment through good corporate governance in compliance with the principles of corporate governance toward the sustainability for all stakeholders.
Lastly, I, as the Chairman of the Board of Directors, the Board of Directors and the management team of the Company. I would like to thank all shareholders, business partners and stakeholders, as well as all executives and employees for their dedication throughout the year 2023 and please be confident that we will continue to build a business to grow steadily and sustainably.
Prakit Pradipasen
Chairman of the Board of Directors
56-1 One Report & Annual Report
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Financial Statement
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Consolidated
Quarter 1/2024
2023
2022
2021
2020
Total Assets (Thousand Baht)
836,908
830,650
822,951
711,998
718,285
Total Liabilities (Thousand baht)
399,239
399,491
400,173
272,915
274,912
Shareholdes' Equity (Thousand baht)
437,669
431,159
422,777
439,082
443,373
Issuad & Paid-up Capital (Thousand Baht)
258,291
258,291
258,291
258,291
258,291
165,863
554,797
743.947
512,167
493,695
Total Revenues (Thousand Baht)
Net profit (loss) (Thousand baht)
6,411
17,576
9,542
21,557
30,621
Earning (Loss) per share (baht)
0.025
0.068
0.037
0.083
0.119
Book Value per Share (Baht)
1.69
1.67
1.64
1.70
1.72
Returm on Equity (%)
1.46
4.08
2.26
4.91
6.91
Debt to Equity Ratio (times)
0.91
0.93
0.95
0.62
0.62
Shareholders
No.
Type
Amount
1
Shareholders Thai - Thai Persons
2
Shareholders Foregin - Foregin Persons
3
Shareholders Thai Juristic Persons
4
Shareholders Foregin - Foregin Juristic Persons
3,520
5
10
-
No. of Share
210,404,252
135,695
47,751,140
-
(%)
81.46
0.05
18.49
-
Source: Thailand Securities Depository Co.,Ltd. As of 20/3/2024
Note: Total paid-up capital 258,291,087 share , Par 1 Baht
Foraging Limit : 25% of Share
No.
Major Shareholder
No. of Share
%
Panitvong Group
50,133,441
19.41
1
Tanpaibul Group
43,105,026
18.62
2
Mr.Kiet Srijomkhuan
12,485,700
4.83
3
Mr.Tavee Changpetch
5,500,000
2.13
4
5,072,000
1.96
Mr.Viroj Tansirikongkol
5
Mr.Vichien Srimuninnimitr
5,000,000
1.94
6
Mr.Suwit Adisaitham
4,849,700
1.88
7
8
Mr.Prawat Chanruang
4,497,500
1.74
Ms.Somjitt Tharaamornrat
3,886,570
1.50
9
10
Mr.Siripong Ruengrit
3,700,000
1.43
Dividend Policy
Not less than 40% of its net profit of each fiscal year after reserving as required by laws and loss carried forward (if any) for dividend payment
(with additional conditions)
Board of Director
Mr. Prakit Pradipasen
Mrs. Warawan Nganthavee
Mr. Sribhumi Sukhanetr
Mr.Chaiwat Chanrung
Mr. Sutin Tanphaibul
Chairman and Independent Director Education - MBA Wayne State University, Detroit, USA - BBA Silliman University, Dumaguete, The Philippines
Independent Director, Audit Committee, Chairman of Nominating and Remuneration Committee Education - Honorary Degree in Mass Communication Thammasat University - National Defense College, Bangkok - Master Degree in Public Administration Ecole Nationale des Postes et Telecommunicatons, France - Faculte'de Droits,Paris
Managing Director and Executive Director Education - MBA Ohio University USA - BBA (Accounting)
Director and Executive Director Education - Mini MBA Thammasat University - BBA The East Philippines University - Diploma in Accounting Chulalongkorn University
Independent Director and Member of Audit Committee Education - MBA – Marketing, International business University of Wisconsin–Madison - Bachelor of Business Administration (Finance and Banking) Chulalongkorn University
Director and Nomination and Remuneration Committee Education College of Computer Science Northeastern University Graduate School of Management Boston University Department of Computer Engineering Chulalongkorn University
Mrs.Nuntawan Sakuntanaga
Mr.Teerapong Tanphaibul
Director Education -BBA Accounting Assumption University -MBA GOLDEN GATE UNIVERSITY
Independent Director and Member of Audit Committee Education Master of Accounting-Financial Chulalongkorn University • Bachelor of Accounting Rajamangala University of Technology
Director and Executive Director Education - Doctor of Environmental Kasetsart University - MBA North Carolina University Wilmington - BBA Assumption University
Director and Excutive Director Education - MBA Harvard Business School, Boston, MA - Bachelor of Arts in Economics (major in international economics) Thammasat University
Managing Director and Excutive Director Education - MBA University of central Oklahoma USA - Bachelor Degree Faculty of Commerce and Accountancy Thammasat University
Mrs. Luckana Srisod
Mr. Nonn Panitvong
Mr. Win Panitvong
Mr. Suradej Tanphaibul