Bangkok--Oct 4--SET
The Chairwoman of the Capital Market Opportunity Center (CMOC) and Market for Alternative Investment (MAImai), Ms. Sopawadee Lertmanaschai, said that the SET Board of Governors has approved the listing of Focus Engineering and Construction Pcl.’s securities on the MAI.mai The company will be as the 9th new MAI listings in 2004. The securities will commence their trading from October 5, 2004, onwards using “FOCUS” as its trading symbol.
FOCUS has a total of THB 125 mln.(Aapprox. USD 3.09 mln.) in paid-up capital, comprised of an existing 100 mln. shares plus an additional 25 mln. shares in capital increase (equaling to 20% of its total paid-up capital after its initial public offering or IPO)., Eeach share haswith a par value of THB 1.00. The Company sold, on September 20-22, its 23 mln. of its cCapital -increase shares to the general public and an additionalanother 2 million shares to its directors and employees at THB 4.50 per share, on September 20-22, 2004. Capital Nomura Securities Pcl. is its financial advisor. The proceeds from its fundraising will be used as working capital.
FOCUS provides construction services to both the public and private sectors. It is mainly engaged in the sub-contractor projects, joint ventures andor consortiums. Presently the businesses of FOCUS deals increasingly with the private sector due to the higher demand in the market. In the first 6 months ofH1/ 2004, FOCUS recorded THB 188.65 mln. (Aapprox. USD 4.66 mln.) in total revenues, with a 12.19% gross profit margin. It had THB13.85 mln.(Aapprox. USD 342,000) in net profits. The company’s dividend policy is to will pay out no less than 40% of its net profits.
FOCUS also plans to bid for 6 potential construction projects worth THB 500 mln.(aApprox. USD 12.35 mln.) in total, and an additional 11 other projects, worth THB 2,525 mln. (Aapprox. USD 62.35 mln.) FOCUS intends towhich it will join the in bidding for if feasible. Its revenues will be realized accordingly to the completed work, as appraised by engineers. An average construction duration for a private-sector project islast about 1-2 years.
After the IPO, the major shareholders of FOCUS include Ms. Naparat Sihanatkathakul and Mr. Anukorn Wechapaisalpipat who hold 51.62% and 13.36% stakes respectively.
For more information on Focus Engineering and Construction Pcl., please browse the MAI’s website, www.mai.or.th, or SETTRADE.COM’s website, www.settrade.com
For more information, please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 / Nattaporn Boonprapa Tel: 0-2229-2049 End.
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