SAMART prepares to list "SAV" Samart Aviation Solutions Pcl. in the SET, expecting to trade in the third quarter of this year, ready to become the leader in integrated aviation solutions and services in ASEAN. Raise the strength of a stable business without competitors and the aviation industry returns to high growth.
Mr. Teerachai Phongpanangam President of Samart Aviation Solutions Public Company Limited or SAV, revealed that Samart Aviation Solutions Public Company Limited (SAV), a subsidiary of the Samart Group, prepared to be listed on the Stock Exchange of Thailand this year. It filed a registration statement (filing) for the offering of its ordinary shares to the Securities and Exchange Commission in April. Samart Aviation Solutions Public Company Limited or SAV has a registered capital of 320,000,000 baht, paid-up capital of 288,000,000 baht. It is a holding company which main business is providing a full range of aeronautical radio services through Cambodia Air Traffic Services Co., Ltd. (CATS), in which "SAV" holds 100% of CATS shares, CATS is the only operator to have a 49-year concession from the Cambodian government (2002-2051) to manage. air traffic covers all flight routes in the airspace of Cambodia. At present, Cambodia has six airports: Phnom Penh International Airport, Siem Reap International Airport, Sihanouk International Airport, Battambang Airport, Koh Kong Airport and Stung Treng Airport. The main revenue of CATS comes from 3 types of air traffic control services: 1. Revenue from service fees for flights that fly in the country (Landing & Take-off : Domestic). 3. Revenue from service fees for flights flying through Cambodia's airspace (Overflight)
"In 2022, SAV has a total revenue of 1,220 million baht, an increase from the total revenue of 724 million baht in the previous year and The net profit increased to 199.5 million baht after the crisis of the COVID-19 situation and The country is fully open. The economy and tourism both in Cambodia and ASEAN countries returned to grow.
SAV has many strengths as follows: The only one in Cambodia 2. Earn regular income from every flight that goes up and down in Cambodia. 3. Earn regular income from every flight flying through Cambodian airspace. In particular, flights to Vietnam have increased significantly due to economic growth, high investment and tourism 4. SAV has a concession period of 29 years and can be extended for another period. 5. Aeronautical Radio Business Low investment and high return and there is no competitor. 6. The economic growth and tourism industry of Cambodia and ASEAN have high growth potential.
Mr. Watchai Vilailuck, Executive Vice Chairman of Samart Corporation Public Company Limited or SAMART revealed that Samart Group has invested in many business groups for more than 60 years, having started investing in the aviation business in Cambodia since 2002 and SAV (in which Samart Group holds 100% of the Company's shares, held by Samart U-Trans Co., Ltd. 66.67% and Samart Inter Holding Co., Ltd. holds 33.33%) is the only company that receives a complete concession for aeronautical radio services in Cambodia. The company has invested in various technologies and equipment and over the past 21 years, the company has successfully extended the concession period 3 times and the latest concession covers 2051, making SAV's business highly stable.
"When SAV enters the stock exchange, it will unlock value and unleash the potential and value of Samart Group. This is because SAV is a company with high potential in the growing aviation industry, good business performance, high stability and profitability, and will be able to grow much more as the aviation industry in Asia tends to continue to grow further more due to the expansion of investment and tourism in ASEAN."
Mr. Prasert Tantayawit, Managing Director of Asia Plus Advisory Co., Ltd., as SAV's financial advisor, said, "SAV has submitted an application for permission to sell shares to the Securities and Exchange Commission. There is a plan to offer not more than 224,000,000 ordinary shares or not more than 35.00 percent of the company's paid-up capital. After this offering of the Company's ordinary shares divided into increased ordinary shares in the amount of not more than 64,000,000 shares, representing not more than 10.00 percent of the Company's paid-up capital and existing ordinary shares and over-allotment of shares. The amount not exceeding 30 percent of the company's paid-up capital. The par value is equal to 0.50 baht per share. The objective of this fund raising is to be used as working capital and to repay loans from financial institutions including to support opportunities for business growth.
In addition, SAV has a dividend payout policy of up to 50% of net profit, which coupled with strong profitability and cash flow, I believe SAV will be an attractive stock for investors looking for consistent returns in the future long term for sure."
Source: Brand Wealth