Bangkok--4 Dec--Thoresen Thai Agencies
Thoresen Thai Agencies Plc. (“TTA”) is pleased to announce that TRIS Rating Co., Ltd has assigned the company rating of TTA at a BBB+. The rating underlines the solid performance improvements made by TTA and all business units.
Mr. ChalermchaiMahagitsiri, President and CEO of Thoresen Thai Agencies Plc.said, “As an investment company, this BBB+ rating will further strengthen our growth capability. This credit rating will provide us with access to a greater range of finance options with more favorable interest rate, through access to a wider set of investor groups. These two benefits place us in a better position to raise funds with a lower financial cost and will help us further strengthen our capital structure ultimately supporting our strategy in growing our existing core businesses and expanding through new investments in high-growth and high-return sectors.
“We have successfully achieved our commitment to bringing TTA back to being a profit-driven company having delivered a billion Baht in net profit this year. Going forward, TTA, as a dynamic blue chip company will target strong returns on investment of 15% across our existing core businesses and 25 to 30% through new businesses.”
TTA recently reported a net profit of THB 1,015 million in FY 2014 compared with a net loss of THB 5,119 million in FY2013. Total revenue increased 16% year-on-year to THB 21,431 million with solid improvements across all business units. Today TTA’s revenue contributions from each business group are 47% from Mermaid Maritime, 32% from Thoresen Shipping, 15% from Baconco with the remainder coming from other businesses.
About TTA
Thoresen Thai Agencies Public Company Limited (“TTA”) is a strategic investment holding company listed on the Stock Exchange of Thailand (TTA:TB). Its investment strategy is to grow through a balanced and diversified business portfolio both domestically and internationally. TTA’s businesses include but are not limited to dry bulk shipping, offshore oil & gas services, fertilizer production and distribution, and integrated port and logistics services with assets valued at over THB 49 billion and market capitalization over THB 30 billion (as of September 30, 2014). For more information, please visit www.thoresen.com.
For further information, please contact:
Thoresen Thai Agencies Plc
RavisadaAngkeeros E-mail:
[email protected]
Tel: +66 2254 8437 Ext. 393