Bangkok--25 May--Brand Wealth
Ingress Industrial (Thailand) PCL ("INGRS") plans to make further investments to expand its foothold in ASEAN and India. Currently, the Group has 9 companies in 4 key Asian countries, serving large customer base with the expectation of a strong recovery of ASEAN automotive market and strong growth in India.
Mr. Abdul Rahim bin Haji Hitam, INGRS' Chief Executive Officer, says that, "The Group is the ASEAN's leading auto parts maker whose products are exported worldwide in line with its aspiration to be "An ASIAN Company with Global Reach". It has manufacturing facilities in Thailand, Malaysia, Indonesia and India. With advanced technology, specialized manufacturing expertise and international accredited manufacturing system, the Group can compete in each important and high-potential market, therefore creating a strong and sustainable business.
INGRS has developed the necessary strength such as high-technology manufacturing plants which focus on making high-quality products for various car makers such as Honda, Mitsubishi, Ford, Mazda, General Motor, Isuzu, Suzuki, Nissan, HINO, Toyota, Daihatsu, Perodua and Proton as well as for customers in India such as Maruti-Suzuki, Fiat and Mahindra & Mahindra. With 10 factories in 4 different countries, the Group is able to meet customers' requirements efficiently and sustainably, especially in the highly expected Quality, Cost and Delivery criteria."
The Group's activities are comprehensive; ranging from research and development, design and production of tooling, manufacturing of components, continuous improvement of the manufacturing processes through state-of-the-art facilities, marketing and sales of products to diversified customer base ranging from passenger cars, Sport Utility Vehicles (SUV), one-tonne pick-up trucks and mini trucks in all the ASEAN countries where the Group operates. The Group produces 3 core products, namely; Roll Forming Products, Stamping and Module Assembly Products as well as Tooling and Automation Integrated Solution.
The Group's presence in ASEAN has given a good opportunity for future growth in terms of revenue and profits resulting from the diversified revenue streams from these countries.
Mr. Rahim adds that "Despite the recent automotive market slowdown, the Group has achieved total revenue of 2,915.9 Million Baht and Net Profits before Minority Interest of 210.4 Million Baht for the financial year ended 31 January 2017, a 19% increase from 177.0 Million Baht for the financial year ended 31 January 2016 with revenue of 3,158.6 Million Baht despite the Group having to recognize one off tax recalculation in compliance with the latest tax regulation amounting to 32 Million Baht. The Net Profit Margin increases to 7.22% despite the decrease in revenue.
Furthermore, the Group is expected to benefit from improved market sentiment in ASEAN and as well as the introduction of new products into the market. The Group prospers not only from the strength of its internal professional and experienced management team but also from the support given and the close relationship with its Japanese strategic partners in particular Katayama Kogyo Co., Ltd, Metal Tech Co., Ltd and Iwamoto Co., Ltd."
INGRS currently has a registered capital of 1,185,380,190 Baht comprising of 1,185,380,190 ordinary shares of 1 Baht each. Subsequent to its IPO, INGRS is expected to have 1,446,942,690 Baht in registered capital.