21 years of TRC showing off a backlog worth 8,858.61 million baht, ready to bid more projects to push it through the 10 billion They are confident that year ended 2019 will be grossed more than 4 billion.

TRC Construction Public Company Limited or TRC, a service provider in the petrochemical industry for over 21 years, sum up operating results showing a backlog worth 8,858.61 million baht. They continue bidding on projects to increase revenue in 2019 to reach 4 billion.

            Mr. Pasit Leesakul, TRC Chief Executive Officer, revealed that this year the Company has set a target to exceed 4 billion baht in revenue after gradually recognizing backlog of 8.8 billion baht and gradually recognizing revenue since this year. At the same time, the Company is still preparing for ongoing bidding in total value of over 8,000 million baht, which is a job among TRC’s customers in the petrochemical and construction industry, such as IRPC Public Company Limited or IRPC and PTT Public Company Limited or PTT. Initially, it is expecting to receive 1,200 million baht which will help supporting the backlog to reach 10,000 million baht.

            However, the Company is preparing to adjust its revenue target this year to grow to double or more than 4,000 million baht from the previous year with revenue at 2,300 million baht, and higher than the original target which is expected to generate revenue at 3,500-3,800 million baht.

            Currently, the Company has a backlog of 8,858.61 million baht, consisting of 8 projects of TRC approximately 2,866.23 million baht, 11 projects of Sahakarn Wisavakorn Co., Ltd. with the remaining work value of 5,992.38 million baht.

            At the same time, the Company and its subsidiaries continue to proceed with bidding for new projects. In the 3^rd quarter of 2019, there are 3 new projects with a total value of 1,444.46 million baht.

            Projects received during the 3^rd quarter of 2019 consist of construction of the canal development project on Vibhavadi Rangsit Road Part 1 with project value of 633.01 million baht, construction of the canal development project on Vibhavadi Rangsit Road Part 3 with project value of 293.69 million baht from the Department of Highways and the project to change the aerial cable system to underground cable, Rama 4 Project from the Metropolitan Electricity Authority, with project value of 517.76 million baht.

            “Overall performance in the second half of the year will grow more than the first half according to the gradual recognition of income from backlog and there are new projects we will be bidding based on government investment,” Mr. Pasit said.

            However, the Company will set up another new subsidiary company to operate the automated warehouse business providing space and rental of warehouse management equipment, including shelves, machinery, various equipment and storage system programs and cargo. It is scheduled to launch alliances and operational directions during the 4^th quarter of this year, which the Company plans to list its subsidiaries on the Stock Exchange of Thailand.

            “For that subsidiary company, we will cooperate with alliances in the Stock Exchange of Thailand to operate an automated warehouse business providing space and rental of warehouse management equipment and in the future, if there is revenue and profit that meet the criteria, whether listing SET or mai, we are ready to do.”

            In addition, the meeting of the Board of Directors approved the Company to enter into a joint venture agreement with Asia Green Energy Public Company Limited (AGE) and Appliance Technology Supply Co., Ltd. (APTECH) to conduct energy business with investment value of 135 million baht by establishing a joint venture company under the name AT Energy Solution Company Limited (AT Energy). AT Energy Solution Company Limited has a registered capital of 300,000,000 baht. in which TRC Construction Public Company Limited holds 1,350,000 shares representing 45%, Asia Green Energy Public Company Limited holds 1,350,000 shares representing 45% and Appliance Technology Supply Company Limited holds 300,000 shares representing 10%. The Company will mainly conduct energy business and the procurement and utility services business, especially energy for general industrial plants such as steam, electricity and water production and distribution for industrial plants etc.             “TRC is very pleased to be partnering with two alliances, both AGE and APTECH, in which the joint venture alliances have expertise and experience in various fields, including construction, procuring fuel sources including design services and maintenance of machinery and equipment related to public utilities which will be able to expand the customer base more and lead to creating more value for shareholders in the long run,” Mr. Pasit said.