BANGKOK, Nov 5, 2024 - (ACN Newswire) - Interroyal Engineering PCL (SET: IROYAL), a provider of engineering services and specialized products, staged an impressive debut on the Market for Alternative Investment (MAI) with positive reception from investors, setting its sights on leading the electric power solutions sector with a focus on innovative energy solutions for the future. The company is moving forward to expand its capabilities, ready to meet demand from multiple industries, and confident in its strong business foundation. IROYAL aims to grow its sustainable, environmentally friendly energy business to ensure continuous long-term growth.
Mr. Panapat Mekasuwandumrong, Chief Executive Officer of Interroyal Engineering PCL (IROYAL), reported that IROYAL shares started trading on November 5, 2024, on the MAI in the services sector under the ticker symbol "IROYAL." With over 40 years of experience in the industry, the company has accumulated a wealth of knowledge, understanding, and diverse skills that meet customer needs, earning the trust of leading organizations in the country. This strong foundation is expected to make IROYAL an appealing new IPO to investors.
The company plans to drive continuous growth by investing to enhance its competitive capabilities and meet service demand from various industries. It also sees opportunities to expand into technology projects, leveraging its expertise in the steps, processes, and products used in power generation to improve the current operational processes of power plants.
Additionally, the company has recently expanded its customer base into more diverse industries to broaden its clientele, targeting sectors like oil refineries or petrochemical plants with combustion systems, and cement plants with flue gas management systems. It has also begun expanding its product offerings to include items used in uninterruptible power supply (UPS) systems, aimed at customers in hotels, large buildings, and hospitals—sectors that require backup power and energy systems.
Ms. Prapapan Prapatpotipong, Director of Interroyal Engineering PCL (IROYAL), stated that the company plans to use funds raised from the IPO, after deducting related expenses, to grow the business and strengthen its position as a leader in innovative energy solutions. The objectives include: 1) using 280 million THB in 2024-2025 for bidding and guaranteeing performance for public sector, state enterprise, and private sector projects, which will enhance the company’s future business opportunities, and 2) allocating 78.21 million THB as working capital in 2024-2025. Additionally, IROYAL has set a dividend policy to pay shareholders at a rate of not less than 50% of net profit, after tax and reserve allocations, as stipulated by law and company regulations.
The group has always emphasized research and development to maintain high product quality, sourcing from manufacturers with leading innovation and technology in production processes. These products, which meet international quality standards, come from globally recognized brands based in the United States, the United Kingdom, Germany, Switzerland, Italy, Australia, Japan, China, and Singapore, among others. As of the first half of 2024, the company’s backlog stands at 63.01 million THB, with revenue recognition expected at 28.11 million THB this year and the remainder recognized in the following year.
As the lead underwriter, Ms Nalyne Viriyasathien, Managing Director of Investment Banking and Advisory at Maybank Securities (Thailand) PCL, stated that Inter Royal Engineering PCL (IROYAL) has over 40 years of experience and expertise in the industry. The company leverages its knowledge, understanding, and diverse skills set to effectively meet client needs, earning the trust of top organizations nationwide. This has resulted in a solid customer base in both the public and private sectors, domestically and internationally, within electric power and other industries. Notable clients include Hongsa Power Co., Ltd. (Hongsa Power Plant in Laos), the Electricity Generating Authority of Thailand (EGAT), TPI Polene PCL (TPIPL), and PTT Global Chemical PCL (PTTGC). IROYAL aims to maintain these customer relationships by offering maintenance and efficiency improvement services.
Mr. Somsak Sirichainarumitr, CEO of Asset Pro Management Co., Ltd., as the financial advisor, noted that IROYAL is well-positioned for growth opportunities within the electrical energy and key industry sectors by providing specialized engineering products and services, while maintaining long-term relationships with clients. This positions IROYAL’s revenue growth to align with the revenue growth in the electric power sector. Additionally, the company has the potential to participate in bidding for projects in core and new sectors, supporting its long-term sustainability.
Released by Public Relations Dept, MT Multimedia Co., Ltd for Interroyal Engineering PCL, or IROYAL
For more information, please contact:
Pipop Kongwong, T: +66 81-929-8864; E: pipop.k@mtmultimedia.com
Interroyal Engineering PCLL [SET: IROYA, IROYA-R, IROYA/F] https://www.interroyalengineering.com/
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