ITE expects the revenue of 5.4 billion Baht in 2017 Invade ASEAN by opening Myanmar market with the backlog of 6 billion Baht

Real Estate Press Releases Wednesday March 15, 2017 13:01
Bangkok--15 Mar--Four Hundred

ITALTHAI Engineering expects the revenue of over 5.4 billion Baht, or 8% growth for the year 2017, with the backlog on hand of over 6 billion Baht to invade ASEAN market starting from Myanmar. The Company is ready to upgrade its quality management system to ISO9001 New Version 2015.

Mr. Sakol Laosuwan, Chief Executive Officer of ITALTHAI Engineering Co. Ltd. (ITALTHAI Engineering : ITE), one of the engineering market leader under "ITALTHAI GROUP", reveals that the Company expects the revenue of 5.4 billion Baht in 2017, or the growth of 8% from previous year, which is the highest level of income. Currently, the Company has the backlog of over 6 billion Baht. The approximate revenue of 4.5 billion Baht will be recognized in the year 2017, and the remaining revenue will be recognized in 2018.

ITE is ready to enter ASEAN market by expanding its business to neighboring countries including Myanmar. Focus will be made on construction, installation of building system, public utilities, construction of renewable power plants, including solar power, and construction of manufacturing facilities in petrochemical industry, as well as project development business and various kinds of investment. The major factors for ITE's investment in Myanmar include the number of population which is close to the population of Thailand, together with abundant natural resources of Myanmar. The opening of the country will drive its economic growth. At present, ITE has over 30 projects in operation in various sectors, for example:

1. Construction project for the General Medical Center to Honor the 150th Anniversary of Queen Savang Vadhana, Phase 2, at the Queen Savang Vadhana Memorial Hospital in Siracha, with the project value of 1.2 billion Baht;

2. Phoenix Medical Center, Bangkok Hospital, Soi Soonvijai, Bangkok;
3. Construction of 115-22 KV-GIS system power station, Ekkhachai 2 and Sampran 3 power stations;
4. Ligor 8.965 wind field project in Nakornsrithammaraj Province;
5. EGAT Headquarter project, which includes the construction of electrical, mechanical and air-conditioning systems in the building.

As for the quality management system, the Company achieved the ISO quality management system and the assessment to verify the improvement of its quality management system. Previously, the Company was certified for ISO9001:2008, and the latest achievement of the Company is the certification for ISO9001:2015. ITE is one of the top companies that are certified with the new version of the year 2015. In addition, the Company is also certified for ISO14001:2015 and OHSAS18001:2007, which is the standard for environment and occupational health. This reflects the Company's commitment and mission in conducting business in accordance with international standards, while focusing on the highest quality of work regarding environment and occupational health.

As for personnel management or ITE's working team, we select persons who are compatible with the organization in terms of knowledge, ability, attitude and teamwork. One of our required qualifications in the selection process is to choose persons with "Passion". If we get persons with "Passion" who are committed to working, we will be able to develop their knowledge and skills in management of construction process easily because, basically, those people are committed to the work and want to be successful. In addition, our organizational culture is embedded with professionalism. That is, we have our standard of working, and we also use ERP system for project management, risk management as well as various standard system. We work as a "Professional Family."

In terms of social and environmental responsibility, we operated the library construction for Baan Nong Moey School in Chaiyapoom Province and delivered our project in February. This contribution is the delivering of happiness to the children. In this year, ITE is expected to conduct various CSR activities through the communities and areas near our working project. ITE emphasized on sustainable development of the communities and society.


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