Dr. Songwoot Graipaspong, the President of TCJ Asia Plc., "TCJ", indicated that currently TCJ is running the business in four segments consists of the sales and rentals of various type of heavy construction machinery, manufacturing and selling special grade of stainless steel tube, installing and decorating the MRT/ BTS stations with the high acceptance from the customers. TCJ foresees confidently of the continuous growth of revenueat least 10% of last year sales 1,245.38 million Baht.
For the first quarter of 2017 ending March 31, 2017, TCJand its subsidiaries recorded a profit of 27.19 millionBaht, while the profit of Q1/2016 was only Baht 1.98 million Baht. The total revenue of the company and the subsidiaries was 459.64 million baht, an increase of 63.4% from the first quarter of 2016 with total revenue only of 281.31 million Baht. This revenue increasingapproximately 313.38 million baht, or 121.1%, were the results of the increasing of the production and distribution of special stainless steel tubes, the distribution of metal products,the sales of construction machinery. In addition, the company recognized revenue from the installation and subcontract of 26.98 million Baht, increasing at 146.3% from the same period of the year 2016.
Mr.Tatchon Leelaprachakul, Chief Operating Officer, revealed that the company is currently has been participating in many businesses. It can be divided into various industries, such as government infrastructure and private construction industry. TCJ is also involved in the base foundation construction, lifting the heavy material, and the furbishing of the MRT/BTS station which in the segment of high value. TCJ could get these businesses is the result of the long experience, TCJ is trusted to be a fully integrated metal fabricator. This is the additional expertise apart from industrial machineries. However, the company continues to enlarge the business in the heavier construction works. The company has planned to purchase more heavy machineries in the right category to satisfy the customers' needs to support future projects, which recently raising fund was also following this roadmap.
Dr. Songwoot added that, at the end of May this year, TCJ sold the newly issued ordinary shares to the existing shareholders at the ratio of 4 existing shares to 1 new share at the offering price of Baht 10 per share plus 2 units free of charge warrants. TCJ newly issued shares and the new warrant, TCJ-W2, were first traded on June 13, 2017. It was found the warm response from the investors. The atmosphere in the trading hours is bustling. The trading volume was s very tight. TCJ-W2 is trading at 2.16 Baht/unit during trading hours, the highest price increased to 3.06 Baht/unit and closed at that level with the turnover of over 130.47 million Baht. TCJ-W2 has the age of 3 years with a exercise price of Bt10.00 per share, which will be exercisable for the first time on Friday June 30, 2017. The last exercise date is June 5, 2020.
Dr. Songwoot further said that TCJ raises approximately 157 million Baht capital increasing, strengthen the current financial status of the liquidity which is strong enough to support future expansion plans and drive sustainable growth. TCJ will spend money to buy some more new machinery and as working capital to increase efficiency in supporting the expansion of the overall business sector and from the Eastern Economic Corridor (EEC) project of the government.