Bangkok--4 Jul--Neo Target
Mangpong 1989 Public Company Limited (MPG) has passed the criteria required by the Stock Exchange of Thailand and MPG’s shares will resume trading on the MAI on 9th July 2014. MPG stated that the investors can be affirmed for the company’s strong business growth from over 33 years of solid experience in lifestyle and entertainment business, strong relationship with leading department stores nationwide, extensive synergy plan with local and global alliances, and continuous business expansion of lifestyle technology store under the brand “Gizman”.
Mrs. Kityajai Triakevijit, Chief Executive Officer of Mangpong 1989 Public Company Limited or MPG, revealed that “The entertainment and lifestyle business has been growing constantly and MPG has been responsive to new technologies. Being the leader in the entertainment and lifestyle business, MPG is ready to leap forward to new business, bringing in new products to respond to all facets of lifestyle and entertainment. We are confident in our experienced management team, strong alliances, large customer base and superior locations in major provinces nationwide. MPG will attain its growth objective by synergizing with leading local and global alliances, and presenting lifestyle technological products under the brand “Gizman” to serve demands of new-generation customers. MPG is confident that the above factors can drive MPG’s gross sales in 2014 to reach the target of 15-25% growth.”
MPG has earned net operating profit in 2013 amounted 6.62 million Baht. The shareholders’ equity as of 31 December 2013 was 199.24 million Baht. As of 31 March 2014, net operating profit for the first quarter amounted to 2.02 million Baht and shareholders’ equity amounted to 197.72 million Baht. These have proven that MPG has good operating results and solid financial status.
Mrs. Kityajai Triakevijit added that “MPG will put more focus on E-Commerce market reflecting its sharp growth of online product sales in www.mangpong.co.th and www.gizmanlifestyle.com. Our Mobile Application “Mangpong” was also set up to facilitate online customers. It is expected that online sales volume of Mangpong and Gizman products via online will be increasing 30-50% this year.”
MPG planned to establish 5 Gizman stores this year; namely, Central Rama III, Siam Paragon, MBK Center, The Nine Rama IX, and 55 Market Srinakarin under the investment budget of 10 million Baht, expecting over 25% of income growth. It is expected that the 15 stores will be completed within 3 years. MPG also intended to form strategic partnership with 50-60 local and foreign businesses this year.
The products distributed in Gizman stores can be classified into 2 types: products of global strategic partners such as Sennheiser, Beats, Marshall, Jawbone, Gopro, iRobot, and Vanmoof; and products under the brand “Gizman”. MPG aims to join hands with leading suppliers to manufacture internationally certified products. One of the products launched to the market is called “Gizcard”, a micro music card containing copyrighted digital music files that can be connected to wide ranging devices such as tablets, cars and portable speakers. MPG is actively seeking potential business partners who share the same business goals.
The lifestyle and entertainment business, a core business of MPG, have also been growing continuously from nationwide store opening. MPG is the copyright holder of numerous international movies and music.
On long term business plan, MPG will emphasize on revenue and expense management, qualified product selection, product differentiation and remarkable customer service.
Lastly, MPG is considering financial instruments that will benefit the shareholders. MPG will publicize further information on this.