T.R.V. Rubber Products pcl (TRV), is a producer of automotive & electrical appliance molded rubber parts, listed under the ticker symbol “TRV”. The company has a market capitalization at its initial public offering (IPO) of THB 483 million (approx. USD 14.31 million).

TRV manufactures and distributes molded rubber parts for industrial use for
three customer groups, consisting of 1) automotive parts manufacturers, 2)
electrical appliances manufacturers, and 3) others such as parts for farming
machine tools & water pipe seals, etc. , with revenue ratio of 44:55:1
respectively in 2020. The distribution channel is mostly directly to the
manufacturers, starting from co-designing and then manufacturing customized
products. The company has achieved the ISO 9001:2015 certification on quality
management system, IATF 16949:2016 certification on quality management system of
automotive industry, and ISO 14001:2015 certification on environmental
management system.

TRV has a registered paid-up capital of THB 105 million, consisting of 155.435
million existing common shares and 54.565 million newly issued shares, with a
par value of THB 0.50 each. It offered not more than 52.930 million newly issued
shares to the general public; not more than 0.300 million shares to the
company’s patrons; and up to 1.335 million shares to the company’s directors,
executives, and employees during November 24 – 26, 2021 at THB 2.30 each, for a
total of THB 125.50 million. The IPO price was equivalent to the
price-to-earnings ratio (P/E ratio) of 17.69 times. Earnings per share is equal
to THB 0.13 each, which was calculated from the company’s net profit of THB
27.90 million in the past four quarters (October 1, 2020 – September 30, 2021),
divided by fully diluted shares. Pioneer Advisory Co., Ltd. is its financial
advisor, while Kingsford Securities pcl is lead underwriter.

TRV Chief Executive Officer Theerawut Nawamongkhonchaikit said that for over 20
years, TRV has been focusing on developing production quality and services for
customer satisfaction. We have continuously enhanced and integrated the
production process with an aim to minimize waste and maximize efficiency in
cost management. The fundraising will be used to invest in the purchase of
machinery, repay loans to financial institutions, and as working capital.

TRV’s two major shareholders after the IPO are Nawamongkhonchaikit family (62.29
percent), and Private Equity Trust for SME Growing Together 2 (11.73 percent).
The company’s dividend policy is to pay no less than 40 percent of net profit
after corporate tax and all types of reserves as specified by laws and the
company’s regulations.

For more information, please see the company’s prospectus at the Securities and
Exchange Commission’s website at www.sec.or.th ; and for general information,
please visit www.trvrubber.co.th, as well as www.set.or.th.

“SET…Make it Work for Everyone”
Follow us on Twitter @SET_Thailand_EN
______________________________________________________________________

Read More

About the author

https://www.siamnewsnetwork.net/ | Website

Siam News Network includes top references news sites, Job Board, Business Directory and Classifieds Portal

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

SET market report for May 2022

SET Index ended May at 1,663.41 points, a 0.2 percent decline from the previous month. However, the benchmark index when compared with the end of 2021 rose by 0.3 percent, higher than regional average.

SET welcomes holding company Thai Eastern Group Holdings (TEGH)

TEGH’s major revenue, approximately 80 percent, derives from natural rubber manufacturing and distribution business, which divides into two main products, namely block rubber and concentrated latex

SET partners with mai-listed Company Association (maiA) on reforestation project

The initiative is to rehabilitate the ecosystem in the upstream forest area, create food sources, and generate income for 390 community households, leading to balanced development and co-exist with communities and environment in a sustainable way.