PDI shareholders approve dividend payment of 1 Baht/share

Stocks and Financial Services Press Releases Wednesday April 26, 2017 11:40
Bangkok--26 Apr--IR network

PDI will move forward with its plans to build business operations in high value added materials from recycling and industrial waste management. The company aims to further expand its solar farm operations both in Thailand and overseas, with a target generating capacity of 150 MW within three to five years.

Mr. Francis Vanbellen, Managing Director of Padaeng Industry Public Company Limited (PDI), said the 2017 annual general shareholders meeting passed a resolution to pay dividends to shareholders of 1 Baht per share, for a total of 226 million Baht. PDI will pay to shareholders whose names appear on the list on May 3, 2017, in accordance with Section 225 of the Securities Act, and the shareholder registration will be closed on May 4. The dividend payment will be executed on May 18.

In the material business, the PDI-CRT project in Rayong will provide value-added materials from recycling complex industrial wastes. The production facility is in the basic design process, which is due to finish by the second half of this year. After that, the factory will be constructed and is due to start commercial operations in 2019. The PDI-CRT venture received full support from the Department of Industrial Works in 2016.

For the business plan this year, PDI will continue to invest in its three new businesses including energy, materials and eco management. The energy business has made progress as the Company has plans to invest in solar farms both in Thailand and abroad. The company aims to build total generation capacity of 150 MW within a three-year period.

Meanwhile, the eco management business has an ongoing project, PDI Tak Eco, which is a joint venture between PDI and Dowa Eco System. This project is seeking a license to operate a fully integrated industrial waste management facility in Tak province. The waste treatment capacity will be 50,000 tons per year serving the northern and central regions in Thailand. The project will use the feedback from the communication sessions with the local communities to fine-tune its scope. This waste management project received support from the Department of Industrial Works as it is in full accordance with the country's strategy on waste management.

Besides energy, materials and eco, PDI remains diligent to identify any other attractive M&A targets, generating good returns with controllable risks, leveraged by the capabilities of the company.

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