Samart Group anticipates robust growth across its operations in the second half of 2024, attributing this expected success to strong financial stability and a range of promising business opportunities.
Mr. Watchai Vilailuck, Executive Vice Chairman of Corporate Strategy and New Business Development at Samart Corporation Plc., affirmed that despite the recent setback in the Bangkok Asian Games Organizing Committee (BAGOC) case, the group still maintains its “BBB” credit rating from Tris Rating with a positive outlook. This rating reflects confidence in the company’s current financial health and its potential for future growth.
Mr. Watchai said in the latter half of the year, the group foresees its total backlog value to surpass Bt22.5 billion, up from the current accumulated backlog of approximately Bt13.5 billion. The growth is expected to be driven by the turnaround of the Digital ICT Solutions Business Group under Samart Telecoms PCL (SAMTEL), which is poised to secure bidding projects worth Bt8-9 billion.
The Utilities and Transportation Business Group under Samart Aviation Solutions Public Company Limited (SAV), a major shareholder of Cambodia Air Traffic Services Co., Ltd. (CATS), the leading air traffic and navigation service provider in Cambodia, is benefiting from substantial tourism stimulus efforts by the Cambodian government and the introduction of domestic air routes by Air Asia within Cambodia. These initiatives are directly boosting flight frequency and revenue for CATS.
Meanwhile, progress on the aeronautical radio project in Laos is advancing, with updates anticipated in the near future.
SAV is expanding its strategy beyond being a holding company by venturing into a comprehensive range of airport services to drive sustainable growth. Recently, it partnered with Dan-Thai Equipment Co., Ltd., a top provider of material handling and airport equipment solutions and services, to diversify into various aviation ventures, including airport operations and passenger services in the aviation industry.
Additionally, Samart Corporation Plc announces plans to issue bonds aimed at redeeming the company’s debentures ahead of their maturity and bolstering working capital. The debentures will carry a 3-year term with a fixed interest rate of 5.40% per annum, payable quarterly. The offering targets institutional investors and high-net-worth individuals.
Underwriters for the offering include Daol (Thailand) Public Company Limited; Asia Plus Securities Company Limited; Bluebell Securities Company Limited; Globlex Securities Company Limited; Phillip Securities (Thailand) Public Company Limited; Kingsford Securities Public Company Limited; Siam Wealth Securities Company Limited; Krungthai XSpring Securities Company Limited; Finansia Syrus Securities Public Company Limited; Trinity Securities Company Limited; and Beyond Securities Public Company Limited. The offering is scheduled to take place from August 5 to August 7.
“With over 70 years in business, we have continually adapted to changing circumstances with thorough preparation and well-defined business plans. Having maintained a flawless track record of timely bond repayments, both principal and interest, we are confident that this bond offering will attract positive responses from investors,” Mr. Watchai concluded.