10 Sep 2023
JPARK, a parking rental business, is about to IPO on the stock market / by Longtunman
Talking about “Parking”, one of the most annoying problems. For drivers in Bangkok
Did you know that there was a company that got an idea from this problem? Expanded into a parking space rental business until it has grown to the point where it is about to enter the stock market
This company is called “JPARK”.
So what is interesting about JPARK’s story?
Longtunman will tell you about it.
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JPARK or Jenkongklai Public Company Limited Founded in 1998
By Mr. Santiphon Jenwattanapaisan, former transportation engineer
In the beginning, the company operated a business providing design services and engineering feasibility studies for investing in airport construction projects in provincial areas.
Later, Mr. Santiphon noticed that most of the problems faced by drivers in Bangkok Is it a matter of parking?
– Hard to find parking.
– Parking is not safe.
– Personal items in the car were stolen.
When things like this happened in 2002, it gave him the idea to start a parking service business. Therefore, he began to negotiate with the market owners in the Samyan Market area on Phayathai Road.
By offering to take over the management of the market’s parking area. and collect parking fees
This model is considered to be working well. This caused Mr. Santiphon to start expanding the parking management area. To other potential areas will follow.
which most service areas Will be in Bangkok and surrounding areas
Until now, the company has more than 25,000 parking slots under its supervision.
Examples of parking spaces that JPARK provides and is hiring for services at this time include:
– Siam Square parking lot
– Queen Sirikit National Convention Center parking lot
– Parking lot at Chulalongkorn University
– Vajira Hospital parking lot
– Parking lot at the National Blood Center, Thai Red Cross Society.
– Parking lot at Khon Kaen Airport and Ubon Ratchathani Airport
Past performance
Year 2021, income 243 million baht, loss 11 million baht
Year 2022, revenue 455 million baht, profit 55 million baht
Every 100 baht of income will be a cost of 75 baht.
Other expenses are 13 baht and the remaining profit is 12 baht.
The loss in 2021 was a result of the recent lockdown. and the increase in costs In terms of amortization of the right to use assets This is because the company has a lease for new space and parking buildings.
Currently, JPARK’s income structure is divided into
– 61% is providing parking services.
– 18% is a business for hire to manage parking areas.
– 15% is a consulting business and install a parking space management system
– Other 6% will be income generated from dividing some of the remaining parking space. Rented to outsiders to open a restaurant Convenience stores, etc.
At this point, many people may think that Parking problems in big cities like Bangkok Make a business providing parking services It seems to be a negligent business.
However, this business also has risks.
If the space lessor cancels or not allowing the company to renew the space rental contract or even closing the city caused by civil unrest or epidemics
which these events It will inevitably affect the company’s income.
We must continue to follow that. After the company enters the stock market, what will happen next? How much will the parking space management business grow after this..
Closing with interesting information: JPARK is currently going to raise funds on the stock market.
The money raised from fundraising will be used. To invest in the Phra Nang Klao Hospital parking building project. and use it as working capital for business operations
2023-09-10 02:31:26
#JPARK #parking #rental #business #IPO #stock #market
