Asian No. 1 EPC Contractor pays 0.15 baht interim dividend while bidding new 3,000 million projects this month

Toyo-Thai Corporation (TTCL), Thailand Largest Full-service Engineering Contractor reports the highest Net Profits among Top Contractors of 221 million baht for the fist half of 2009. It shows a hefty 59% Jump in Net Profits over the same period last year, while most contractors report unfavorable results.

Mr. Hironobu Iriya, President and Chief Executive Officer of Toyo-Thai Corporation Plc. reveals that the company has continuously achieved Net Profits Growth for many years. TTCL has become the Most Profitable Contractor in Large Contractor Sector with a 221 million-baht net profits in the first 6 months. This 59% increase is a big jump from the net profits of 139 million baht in same period last year. This year first-half Revenues grow 18% to 6,273 million baht, from 5,296 million revenues in same period last year. On Quarterly basis, the company also records a 69% Increase in Net Profits from 81 million in the second quarter this year, from 48 million baht net profits in second quarter last year.

Suvit Manomaiyanon, Director and General Manager, Sales and Contract Division adds that TTCL focuses on achieving Stable Growth on both Business performances and Return for Shareholders. Currently, TTCL has clinched the Highest Return on Equity (ROE) in the Large Contractors Sector of 32.8%. Its Earning per share (EPS) also records a 43% increase to 0.63 baht (for 6 months ending June 30, 2009), from the same period last year. The company board of directors approve the interim dividend payment of 0.15 baht per share, totaling 72 million baht on September 11th, 2009. The company will be the only Large Contractor that pays Interim Dividend from the first-half results. TTCL Continuous Success comes mainly from being the Largest EPC Contractor that provides total solution from Engineering Design to Procurement/ Installation of Machinery and Plant Construction Management. This EPC Business Model is a unique and sophisticated model that most contactors can not compete thus enabling TTCL to achieve stable net profits. With its perfect track records of On-time Project Completion and Zero-accident construction, TTCL can realize the revenues according to its projection. In addition, TTCL Clients are 100% in Private Sectors with Strong Financial status mostly Blue-Chip Listed Groups as PTT Group and SCG Group and large Global Companies. Therefore, TTCL always receives payment from Clients on-time.

We are also proactively seeking new businesses. Having won 5 projects in the first half worth 3,000 million baht, its backlog now stands at 10,000 million baht. The company is preparing a bid for 2 new high-potential Petrochemical/Chemical and Renewable Energy projects worth another 3,000 million baht. By the end of the years, TTCL will bid for many new EPC projects worth another 35,000 million baht from various Clients including 2 Thai Conglomerates. They are Fertilizer Plants in Vietnam and Morocco, Petrochemical Plants in Eastern Europe. And we expect to win a good portion of the businesses. Khun Suvit explains.

Toyo-Thai Corporation Plc. is The Only Contractor with Continuous Business Growth over the past 20 years with a strong 4,000 million baht Cash and Cash equivalent on hand. (Its 2008 Revenues are 11,049 million baht with Net Profits of 314 million baht showing a 141% Revenue Growth and 124% Net Profits Growth. During 2001-2007, its revenues and net profits grew at a cumulative 42% and 48% per year.)

Founded in 1985, by Toyo Engineering (JAPAN), a leading Japanese EPC Contractor and Italian-Thai Development Plc., Thailand largest general contractor, Toyo-Thai Corporation Plc. has a registered and fully-paid capital of 480 million baht. The company now employs the largest numbers of engineers in Thailand 853 engineers from a total headcount of 1,662 persons. The company track records cover over 160 projects in 24 years, with combined project value of 60,000 million baht. Its local customers include many large listed conglomerates such as PTT Group, SCG Group, Vinythai Group, Kao Group from Japan and German Bayer Group. Its international projects for the last 12 years generated a combined 6,000 million baht. Its main markets are Vietnam, where it has an operating subsidiary, China, Asian Countries, Middle East Countries, Africa and USA.