Bangkok--Oct 7--SET
The Chairwoman of the Capital Market Opportunity Center (CMOC) and Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, said that the SET Board of Governors has approved the listing of Solution Corner (1998) Pcl.’s securities on the MAI. The company will be the 10th new MAI listing in 2004. The securities will commence their trading from October 8, 2004, onwards, using “SLC” as its trading symbol.
SLC has a total of THB 50 mln. (approx. USD 1.2 mln.) in paid-up capital, comprised of an existing 40 mln. shares plus an additional 10 mln. shares in capital increase (equal to 20% of its total paid-up capital after its initial public offering or IPO). Each share has a par value of THB 1.00. On September 28-30, the company sold its IPO shares to the general public at THB 5.50 per share. KGI Securities (Thailand) Pcl. is its financial advisor.
SLC plans to use the proceeds from its fundraising to expand its capacity and business in system integration for bidding on large-scale projects, extend service to overseas customers, and use a part as its working capital to enhance competitiveness. These advantages, made possible by its fundraising, will supplement the eight-year Board of Investment (BOI)’s software investment promotion that SLC currently receives (1999 — 2007).
SLC is a service provider in the information technology arena, including software, hardware, and system maintenance. In 1H/2004, 95% of SLC’s total revenues were from its software business. Approximately 80% of the firm’s revenue is from the public sectors.
From January — June 2004, SLC earned THB 19.7 mln. (approx. USD 493,000) in total revenues, with THB 4 mln.(approx. USD 100,000) in net profits, accounting for a 20.27% profit margin. As for dividends, SLC will pay out no less than 50% of its net profits after taxes and legal reserves. Presently the Maneesilasan family holds 68.86% of the company’s paid-up capital after its IPO.
For more information on Solution Corner (1998) Pcl., please browse the company’s website, www.slc1998.com, 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.
--InfoQuest (NT)--