“Meena Transport” Going forward with a fundraising plan after the SEC, counting one Fireing to sell 184 million IPO shares to fund future projects. Pay back debt And used as working capital for business operations
Mr. Lek Sikornwitthit, Managing Director of Asia Plus Advisory Company Limited, as a financial advisor, said that Mina Transport Public Company Limited or MENA has potential in businesses that benefit from infrastructure work. Project construction And in line with the government’s policy to drive domestic investment, as transportation vehicles are essential, MENA’s vehicles are considered large in comparison to the concrete mixer industry. Have big customers trust Continually rely on the service and ready to move forward for future growth opportunities. Became the first operator in the concrete mixer truck business Which progresses to be listed on the Stock Exchange of Thailand by the SEC has counted one application form for securities offering and filing on January 15, 2021
For this offering of MENA’s newly issued ordinary shares (IPO), no more than 184 million shares at the par value (par) of 0.50 baht per share, representing 25.1% of the total issued and paid-up shares of the Company. After this offering of newly issued ordinary shares to the public, the Company currently has registered capital of 367 million baht, paid-up capital of 275 million baht.
Ms. Suwanna Kajornwuthidej, Chief Executive Officer of Mina Transport Public Company Limited or MENA, revealed that the company operates a business of ready-mixed concrete transport with concrete mixers. Or mixer (Mixer), which is a growing business. And it has the ability to continue to profit due to the ability to manage vehicles and potential delivery workers. In controlling the quality of concrete products throughout the transportation, MENA is the trust of leading cement companies in the country such as Siam City Concrete Co., Ltd. (INSEE), Asia Cement Products Co., Ltd. (BUA Concrete) and Construction Products and Materials Co., Ltd. (CPAC). Including expanding the scope of service to other local manufacturers In addition, the company also provides towing or trailer transportation and sales of construction materials, construction equipment and tools. For complete And strengthen business opportunities
Currently, MENA has more than 600 vehicles to manage, 466 mixers, 83 trailer (trailer) trucks and 104 different types of semi-trailers. Manages a large fleet of fleets, enabling the company to expand its business and accept more jobs. Especially for large projects Which will transport various types of products For partners to various regions across the country
“The objective of this fundraising will be used for investing in future projects. Repaying liabilities And used as working capital for business operations The future projects of the company Has a policy to set a minimum internal rate of return (IRR) for the benefit of the company. And shareholders “ Mrs. Suwanna said.
For an overview of the Company’s operating results The gross income from MENA’s business operation consists of revenue from transportation expenses. Service income Revenue from sales and other income In the first nine months of 2020, the company had total income of 476.6 million baht, with the main revenue coming from transportation and concrete transportation costs more than 90% of revenue. Overall, the net profit was 24.4 million baht, a slight decrease from 26.9 million baht in the first nine months of 2019 due to the impact of COVID-19, resulting in a slowdown in logistics. According to the work progress And customer needs However, due to MENA’s adjustment through cost reduction and MENA’s lower financial costs from continued debt repayments. As a result, the net profit margin improved to 5.5%. For the results of 2019, the total income was 703.7 million baht, the net profit was 37.6 million baht.
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