Pinthong Industrial Park (SET: PIN) debuts on the SET on Nov 9

Wednesday, 10 November 2021, 06:00 HKT/SGT

- Highlighting EEC as ideal location for its logistics park to boost recurring income
- Poised to launch Pinthong IE 6 to draw S-Curve companies for sustainable growth

BANGKOK, Nov 10, 2021 - (ACN Newswire) - Pinthong Industrial Park PCL (SET: PIN), a developer and manager of eco industrial towns, begins the first day of trading on the SET on November 9, with the symbol PIN, as it prepares to develop a new logistics park and open the Pinthong Industrial Estate 6 for sale. Responding to government policy to attract foreign investors in the S-Curve industrial group to the EEC, the move is expected to boost its recurring income, leading to a stable and sustainable growth.

Mr. Pira Patamavorakulchai, Chief Executive Officer of Pinthong Industrial Park, said that PIN has a strong operational foundation, supported by over 25 years of experience as a developer of eco industrial towns that meet ISO 14001-standard and have won Eco-Excellence awards in Chon Buri and Rayong provinces. The company currently operates seven industrial estates and logistics parks covering more than 7,500 rai of land in the Eastern Economic Corridor (EEC) near Laem Chabang and Map Ta Phut Deep Sea Ports, which are located on the main highway connecting Suvarnabhumi and U-Tapao airports. The company is also planning to bring in new technologies to enhance the management of its projects to transform them into Smart Cities that are environmentally-friendly.

Furthermore, the company is aiming to achieve sustainable growth in response to the government's policy to attract foreign investment in the S-Curve industries. In this instance, PIN has prepared to put on sale developed land in Pinthong Industrial Estate 6 in Rayong within the last quarter of this year as well as develop a new logistics park for long-term leasing and build manufacturing complexes and warehouses for leasing. These facilities cover the total area of 100,000 square meters, divided into two phases: The first phase, expected to be completed in 2022, will enable PIN to boost its sales and recurring income from leases of the manufacturing and warehousing complexes, as well as income from common area fees. These revenues will contribute to strengthening the company's performance.

"We aim to develop industrial estates to grow steadily and sustainably along with the Thai economy. Our strategy to create stable and recurring income through the development of a new logistics park and sales of land in the Pinthong Industrial Estate 6 toward the end of this year will be a good opportunity to showcase the potential of PIN's projects that will expand our S-Curve customer base. This is our way of supporting our country to realize the Thailand 4.0 vision," Mr. Pira says.

Mr. Prasert Tantayawit, Managing Director, Investment Banking Department, Maybank Kim Eng Securities (Thailand) Public Company Limited, as financial advisor and joint lead underwriter, says Pinthong Industrial Park PCL has a great potential for growth as the country is opening to foreign investors to establish their export bases as the global economic recovery begins. PIN's strengths lie in its strategic plan to develop its complexes into eco-friendly "smart cities" and the ideal location of its seven projects in the Eastern Economic Corridor (EEC). At the same time, the company's plan to develop a new logistics park and to sell developed land in its Pinthong Industrial Estate 6 is certain to benefit from new investment fund from foreign investors.

Mr. Thanat Wongchukaew, Managing Director, Krungsri Securities Public Company Limited, as joint lead underwriter, says investors' response was quite positive to PIN shares reflecting the investors' trust and understanding in the company. The use of proceeds from the IPO will be (1) expansion of new developing projects, specifically the Pinthong Industrial Estate 6 in Rayong and the logistics park in Chonburi, which will boost the recurring income from leasable plots of land and leasable attached and detached factories and warehouses as well as service fee income from infrastructure and facilities services, (2) debt repayment and (3) working capital. These revenues will contribute to PIN's steady growth. The company has a dividend policy of paying dividends at a rate of not less than 50 percent of the company's net profit after tax, statutory reserve by law and any other reserves. As a result, I believe that PIN will be a growth stock that will help revitalize investors' interest in the industrial estate developer sector, he said.

Released by Public Relations Dept., MT Multimedia Co. Ltd. for Pinthong Industrial Park PCL
For more information, please contact: Yuttachai Praikhanahok (Tle)
Tel: +66-91-736-2866, Email: yuttachai.p@mtmultimedia.com

Topic: Press release summary
Source: Pinthong Industrial Park PCL
Sectors: Daily Finance, Local Biz
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