Bangkok--9 Aug--Brand Wealth
The Large Auto Parts Maker with operations in 4 Countries, plans to expand in Indonesia and India, amid Strong Automotive Recovery in ASEAN.
Ingress Industrial (Thailand) PCL ("INGRS") has officially become the First ASEAN Auto Parts Maker to be listed on SET. The Company's 578 Million IPO shares commences trading today, marking the New Era of Asian Stock in Thailand's Stock market.
Datuk Dr. Rameli bin Musa, Deputy Chairman, Ingress Industrial (Thailand) PCL. say that "We are pleased to become the First first ASEAN Auto auto Part part maker to be listed in on the SET. The CompanyWe plans to use the IPO proceeds in expanding and further strengthening our businesses in all key countries, especially India and Indonesia, which are one two of the fastest-growing automotive markets worldwide. In Thailand With INGRS has 3 operating pPlants in Thailand, serving many global automakers, whose plants are mainly in located within the Rayong and Ayutthaya areas, . Wwe expect the Thai Automotive automotive markets to resume its growth at of about 3.5% per year for the next 3 years. Malaysia, another main market, should see strong recovery for the next 3 years, with the expected 4.5% annual growth rate per year.
Indonesia's Automotive Market should grow at a highregister significant annual growth of 14.3% per year for next 3 years, pushing towards 2 Million million Car car pProduction per year by 2020. India is another Fastfast-growing Large large Automotive automotive market with the expected 4 Million million Car car Production production this year, a 14.3% increase from 3.5 Million million Car Productioncars produced in 2016. While Whilst the Indian annual Car car Production production Volume volume is already larger than All all of combined the ASEAN combined Production production Volumevolumes; , the market there will is expected to further expand from both the iIncrease of in the domestic car sales and the Increaseas well as of Car Exportexports to neighboring countries. Therefore, INGRS is looking forward to expanding our operations and launching more products in these 2 highly attractive countries.
Mr. Abdul Rahim bin Haji Hitam, Chief Executive Officer, Ingress Industrial (Thailand) PCL, says that the Company is growing from being the ASEAN's leading auto parts maker to become "An ASIAN Company with Global Reach". The Group has 9 companies consisting ofcomprising 8 subsidiaries and 1 associate company with Highhigh-Technology technology capabilities in 4 key countries namely,, Thailand, Malaysia, Indonesia and India. INGRS is fortunate to having long term relationships with our technical partners such as Katayama Kogyo, Metaltech and Iwamoto from Japan as well as Woo Young of Korea. Together with our technical partners We we have developed the necessary strength know-how and expertise such as high-technology manufacturing plants which focus on making producing 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 advanced technology, specialized manufacturing expertise and international accredited manufacturing system, the Group can compete in each of the important and high-potential market, therefore creating a strong and sustainable business. Our products are supplied to diversified customer baserange throughout the whole spectrum of the market ranging from passenger cars, Sports Utility Vehicles (SUV), one-tonne pick-up trucks and mini trucks in all the ASEAN countries where the Group operates.
After the IPO, INGRS with will have an enlarged a registered capital of 1,446,942,690 Baht (with 1 Baht Par par value of 1 baht), with INGRS's its major shareholders, the ICBIngress Corporation Berhad holding will hold 60% Shares and the public investors holdings 40%. INGRS recorded 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 withfrom revenue of 3,158.6 Million Baht, a year earlier. This, despite the Group's having to recognize a one- off tax recalculation in compliance with the latest tax regulation amounting to 32 Million Baht. The Net Profit Margin also recorded an increaseses to 7.22% despite the decrease in revenue. Nevertheless Going forward, the Group is expected to benefit from improved sentiment in ASEAN and as well as the introduction of new products into the market. INGRS has a 40% dividend payout policy, of net profit after income tax and after the allotment of legal reserve.