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| SFT sets up to become a leading provider of shrink film labeling solutions in ASEAN, with plans to increase production, meet increased demand, and achieve sustainable growth, following its Oct 29 listing on the MAI |
BANGKOK, Nov 6, 2020 - (ACN Newswire) - Shrinkflex (Thailand) PCL (SET: SFT) is a leading provider of integrated labeling solutions featuring plastic shrink films in ASEAN. On October 29 the company was listed in the Market for Alternative Investment (MAI).
SFT executives are moving ahead with plans to invest in expanding the company's manufacturing facilities and adding new lines of products. The investment plans will add better value and boost the company's brand image in anticipation of continuing market growth in spite of the Covid-19 pandemic. This year's growth is expected to be in the double-digits.
Mr. Sung Cheong Tsoi, SFT's Founder and Chief Executive Office, says he is confident that, having listed in the MAI under the symbol SFT, the company will receive great interest from investors because of the company's tremendous business potential.
SFT's strength lies in its experience and expertise in the production of shrink film labels for more than 12 years. The company has helped its customers meet the challenge of building a positive image and adding value to their brand identity. Its integrated shrink film label solutions have long earned SFT customers' trust.
Thailand is currently a production hub for export of food and beverage products, which has led to a stronger demand for shrink film labels for brand building. Furthermore, shrink film labels have been popularly used to replace other types of labels. Consequently, the shrink film label industry has grown substantially, with this year's growth predicted to reach 5% even in the face of the Covid-19 pandemic.
SFT is in a good position to take advantage of the situation. The company has the production capability, employing modern technology in both gravure and digital printing, which enables it to meet customers' demand for high-quality shrink film labels with quick turnaround.
SFT is currently in the process of building a new manufacturing plant to increase its production capacity from 133 million meters a year to 185 million meters a year. The company is also adding new product lines, such as POF shrink film and flexible packaging, which would add more value to our customers' brands.
Looking ahead, the company is confident that its growth this year would be in the double-digits or at least 10% even against adverse conditions like the Covid-19 pandemic and uncertain political situations. In the first half of the year (January-June 2020), SFT earned 330.47 million baht in revenue, an increase of 12.05% compared to the same period of last year, and an operating profit of 49.64 million baht, an increase of 14.38% compared to last year.
"We've set our sight on being a leader in the ASEAN region in providing integrated labeling solutions for shrink film labels," says Mr. Sung Cheong Tsoi. "We are determined to provide both products and services from beginning to finish to help add better value to our customers' brands. This will have direct and positive impacts for both our current and new customers, and in turn will contribute to our sustainable growth."
Speaking as SFT's financial advisor and underwriter, Mr. Khomklit Meekumsat, Managing Director of the Capital Market Department at RHB Securities (Thailand) Pcl., says SFT is a company with great potentials as it is a leading provider of complete labeling solutions with shrink film labeling products.
"The company provides consultations on packaging, selection of package shapes and packaging designs as well as technical details about film shrinking. This enables it to meet the demand of customers in various industries, for example, foods and beverages, cosmetics, beauty products and household products," Mr. Khomklit says.
Meanwhile, SFT is boosting its competitiveness with an investment plan that will see an expansion of production capacity and an addition of new lines of products. Furthermore, the company will have teams of experts working closely with customers in the development of shrink film labels that are fit for their products and boost their brand identities.
Those are the reasons why SFT has earned the trust of many prominent enterprises, such as Oishi Trading Co., Ltd., Ichitan Group Pcl., Sri Nana Porn Marketing Pcl., Cosmos Brewery (Thailand) Co., Ltd., Better Way (Thailand) Co., Ltd., and Lion Corporation (Thailand) Ltd.
As a result of the factors mentioned, SFT's past performance has seen a sustained, continual growth trajectory. It is particularly true during the past three years (2017-2019). The company's compound average growth rate (CAGR) is 70.65% is a testament to its strength of performance.
It can, therefore, be stated with confidence that when the SFT stock begins trading in the Market for Alternative Investment, it would be a growth stock that will draw strong interest from investors.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Shrinkflex (Thailand) Plc.
For additional information,
Yuttachai (Tle) Praikanahok
Tel: +66 2 612 2081 ext. 125, or +66 91 736 2866
Email: yuttachai.p@mtmultimedia.com
Topic: Press release summary
Source: Shrinkflex (Thailand) PCL
Sectors: Daily Finance, Print & Package, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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