In 2019, the Company faced numerous challenges, whether fierce competition in the ship repair and shipbuilding industry, economic uncertainties as well as shortage of workforce.  However, with the focus, commitment and dedication of the management and all the employees, including timely adjustment of operational strategies under various situations, the Company was able to overcome the obstacles and operate steadily and continuously in the midst of intense competition.

       The various impacts that eventuated resulted in this year's operating results not meeting the set target.  However, with regard to ship repair work, customers still had confidence in the Company, as evident from delivery of more than 100 vessels at both the corporate headoffice and Surat Thani branch.  The Company also made improvements to increase the efficiency of the work area to support more customers in the future.

       With regard to ​​shipbuilding, the Company still continues to have projects to build vessels to eliminate water hyacinth.  In 2019, the Company completed and delivered one such vessel to a government agency client and is in the process of completing another 2 due for delivery in 2020.   The Company has further introduced new technology to develop a modernized prototype which will enhance energy-saving and truly care for the environment, in line with the growing trend of customers in the customer groups of passenger ships, water hyacinth eradication vessels and various types of garbage collection vessels.

       Finally, on behalf of all executives and employees of the Company, I thank you all for the support that you have extended to us.  And with this support comes proof that, even in difficult circumstances, the Company can still stand firm in the industry and ready to wait for the recovery of the industry that will occur shortly hereafter so that we can continue to create further sustainable growth.

                                                                       Prakit Pradipasen


Annual Report

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Financial Statement


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                        Consolidated                                     2020                   2019                 2018                  2017                 2016         

Shareholdes' Equity (Thousand Baht)                       443,373            464,031             482,669            437,625             440,567      

Issuad & Paid-up Capital (Thousand Baht)               258,291             258,291             258.291            258.291             258,291        

Total Revenues (Thousand Baht)                                493,695             440,771            524,897            705,262             614,589       

Net Profit (Loss) (Thousand Baht)                                30,621                1,060                26,450             81,634               49,399      

Earning (Loss) per share (Baht)                                      0.119                 0.004                 0.101                  0.32                  0.19  

Book Value per Share (Baht)                                             1.72                  1.66                   1.77                  1.87                  1.69

Total Assets (Thousand Baht)                                      718,285            755,159             751,993            733,805             701,300

Total Liabilities  (Thousand Baht)                               274,912            326,219             294,579            251,136             263,675  





No. of share




Shareholders Thai - Thai persons                                                               2,915        211,307,498    81.81


Shareholders Foregin - Foregin persons                                                          5                 39,795      0.02


Shareholders Thai - Thai juristic persons                                                          6          46,800,794    18.12


Shareholders Foregin – Foregin juristic persons                                             1               143,000      0.05

Source: Thailand Securities Depository Co.,Ltd.  As of  13/3/2020

Note: Total paid-up capital  258,291,087 share , Par 1 Baht

Foraging Limit : 25% of Share

No.            Major Shareholders              No. of Share       (%)





Tanpaibul Group






Mr.Tavee       Changpetch          




Mr.Prawat     Chanruang   







Mr.Thanakorn    Yodpetch   




Mr.Suwit        Adisaitham             





Ms.Somjitt     Tharaamornrat   




Mr.Kiet          Srijomkhuan            



 Panitvong  Group

Mr.Viroj         Tansirikongkol  

Mr.Vichien     Srimuninnimitr 

Minutes of the AGM

Notice of the AGM

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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)

                        Year                          2019               2018               2017                2016               2015               2014             

                  Bath / Share                    0.05                0.10                0.20                 0.12                0.20                0.12            

Divident Povici.jpg

Board of Director

Mr. Prakit Pradipasen

Mrs. Warawan Nganthavee

Mr. Sribhumi Sukhanetr

Mr. Prawat Chanruang

Mr. Sutin Tanphaibul

Mr. Prakit Pradipasen
Mr. Prakit Pradipasen

Chairman and Independent Director Education - MBA Wayne State University, Detroit, USA - BBA Silliman University, Dumaguete, The Philippines

Mr. Sribhumi Sukhanetr
Mr. Sribhumi Sukhanetr

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

Mrs. Warawan Nganthavee
Mrs. Warawan Nganthavee

Managing Director and Executive Director Education - MBA Ohio University USA - BBA (Accounting)

Mr.sutin Tanpaipul
Mr.sutin Tanpaipul

Director and Executive Director Education - Mini MBA Thammasat University - BBA The East Philippines University - Diploma in Accounting Chulalongkorn University

Mr. Prawat Chanruang
Mr. Prawat Chanruang

Director and Nomination and Remuneration Committee Education - BA (Business Administration) Thammasat University - BA (Accounting) Thammasat University

Mr.Teerapong Tanphaibul
Mr.Teerapong Tanphaibul

Director Education -BBA Accounting Assumption University -MBA GOLDEN GATE UNIVERSITY

Mr.Teerapong Tanphaibul

Mr. Bumroong Chinda
Mr. Bumroong Chinda

Independent Director and Audit Committee Education - Doctor of Architecture Rome University ltaly - Bachelor Degree in Architecture ChulalongkornUniversity

Mrs.Luckana Srisod
Mrs.Luckana Srisod

Independent Director and Member of Audit Committee Education Master of Accounting-Financial Chulalongkorn University • Bachelor of Accounting Rajamangala University of Technology

Mr. Nonn Panitvong
Mr. Nonn Panitvong

Director and Executive Director Education - Doctor of Environmental Kasetsart University - MBA North Carolina University Wilmington - BBA Assumption University

Mr. Win  Panitvong
Mr. Win Panitvong

Director and Excutive Director Education - MBA Harvard Business School, Boston, MA - Bachelor of Arts in Economics (major in international economics) Thammasat University

Mr. Suradej  Tanphaibul
Mr. Suradej Tanphaibul

Managing Director and Excutive Director Education - MBA University of central Oklahoma USA - Bachelor Degree Faculty of Commerce and Accountancy Thammasat University

Mr. Bumroong Chinda

Mrs. Luckana Srisod

Mr. Nonn Panitvong

Mr. Win  Panitvong

Mr. Suradej  Tanphaibul

Corporate Governance


Award of Proud

Annual General Meeting

In 2012-2017, the Company received an appraisal of “Excellent” for the organization of its Annual General Meeting. Such appraisal was conducted the Securities Exchange Commission, the Thai Investor Association, and the Listed Companies Association. 

Good Corporate Governace

In 2009-2010 And 2012, the company has been evaluated Corporate Governance by the Thai Institute of Directors (IOD) to be “Excellent” CG Scoring

In 2013-2018, the company has been evaluated Corporate Governance by the Thai Institute of Directors (IOD) to be “Good” CG Scoring

At Febrruary 2, 2017 the company has bee evaluated Performance Awards by the Stock Exchange of Thailand to be capitalization of less than  3,000 Million baht