Established on the date of 27th September 1991 with current authorized capital of 400 million baht and complete paid up by 300 million baht.
VL’s Fleet consist of 12 tanker vessels with average age of 16 years and total deadweight of 35,081 tons.
Enterprise pcl, a marine transportation service provider for petroleum and chemical products, on May 21, under the ticker symbol “VL”.
The company has a market capitalization at its initial public offering (IPO) of THB 1.40 billion (approx. USD 44 million).
Mai President Prapan Charoenprawatt said that VL would list and start trading on mai in Services Industry Group.
Transportation services for petroleum and chemical products
VL operates marine transportation services for petroleum and chemical products both in Thailand and abroad consisting of crude oil, dirty oil, clean oil, lubricant oil, and palm oil.
Its major customers are large oil traders and oil refinery companies such as Esso (Thailand) pcl, Bangchak Corporation pcl, Chevron (Thailand) Ltd., etc.
Currently, the company provides services with 12 vessels with average fleet age of 16 years, a total of 35,081 deadweight tonnage, and total capability 36,036 cubic meters.
VL has a registered paid-up capital of THB 400 million, consisting of 600 million existing common shares and 200 million newly issued shares, with a par value of THB 0.50 each.
It offered 80 million existing common shares and 200 million newly issued shares to general public via IPO under discretion of underwriters, to benefactors, directors, management and/ or employees of the company, during May 7-9, 2019 at THB 1.75 each, for a total of THB 350 million.
Proposed IPO price shows PER of 21.88
The IPO price was equivalent to price-to-earnings (P/E) ratio of 21.88 times, calculated by using the company’s net profit in the past four quarters (January 1-December 31, 2018), divided by fully diluted shares, representing earnings per share of THB 0.08.
Globlex Securities Co., Ltd. is its financial advisor and lead underwriter.
VL’s three major shareholders after IPO are Chutipa Klinsuwan (65.14 percent), Pisit Jarusira (1.26 percent), Phanida Jeeradeephalang and Issara Varamit (at 0.75 percent each). VL’s dividend policy is to pay no less than 40 percent of net profit from the company’s financial statement after corporate income tax and legal reserves.
VL Chief Executive Officer Chutipa Klinsuwan said that we adhere to the International Safety Management Code (ISM Code) which are the world-class safety management – part of the international treaty for the safety of life at sea, under the International Maritime Organization.
Moreover, the company’s fleet are all double-hull vessels to prevent oil leak accidents. The fund raised would be used for fleet expansion, extending shipping routes, ship maintenance and repair, loan repayment and as working capital.
Electric vehicles (EV) industry gaining momentum in ASEAN
The development of electric vehicles (EV) is gaining momentum in Southeast Asian nations, as such vehicles require fewer parts and barriers to market entry are lower compared to engine-powered vehicles, according to The Yomiuri Shimbun.
The development of electric vehicles (EV) is gaining momentum in Southeast Asian nations, as such vehicles require fewer parts and barriers to market entry are lower compared to engine-powered vehicles, according to The Yomiuri Shimbun.(more…)
More manufacturers to relocate from China to Southeast Asia
JLL anticipates the trend to accelerate as the China-US tariff war are driving more companies in China to relocate their operations to other countries to avoid US tariffs and maintain their competitiveness.
Bangkok, 11 July 2019 – More manufacturers have relocated from China to Southeast Asia over the past few years largely because The Red Dragon’s labor costs have become less and less competitive. This trend has been reinforced by the China-US trade war that began in 2018.(more…)
New Business licenses up 15.85% in first 6 months
Despite the Chinese-US trade war, the investment outlook in the second half of the year is expected to increase by 20 percent or 200 billion baht. It is expected that the investment value will total 430 billion baht this year.
BANGKOK, 3 July 2019(NNT) – Investor confidence and clear policies on industrial development, especially in the Eastern Economic Corridor (EEC) area have increased the value of investment by entrepreneurs requesting new business licenses, and expanding their factories’ capacity by 15.85 percent.(more…)
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...
How is Thailand Bringing Technology to the Table?
In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has...