Toyo-Thai (TTCL) Clinches New 1,100 Million baht Project


- Build World Largest Chemical Plant for Global Leader

- Expects Over 40% Growth in Net Profit and pay out 0.15 baht dividend in August


Toyo-Thai Corporation (TTCL), Thailand Largest Full-service Engineering Contractor, reveals that it expects a Strong & Continuous Growth in Net Profits after clinching the 5th new Mega Project this year.

Suvit Manomaiyanon, Director and General Manager, Sales and Contract Division, announces that TTCL has won a new EPC contract worth 1,075-baht to build the World Largest Hydrogen Peroxide Plant with the capacity of 330,000 ton per year. The Plant Owner is MTP HP JV (Thailand), a joint venture between Solvay Group-a Belgium Chemical Giant and a majority shareholder in Vinythai Plc. and Dow Chemical, an American Chemical Giant. TTCL will take care of full EPC Project from engineering design, procurement and installment of machinery and equipment, plant construction and overall project management.

We have won many contracts from Solvay/ Vinythai Group throughout 10 years and our excellent works have enabled us to win this project to build the World Largest Hydrogen Peroxide plant. We are proud to be the only Thai company to provide Full EPC service from Engineering design, Procurement of machinery & equipment and plant construction management for this World-scale plant construction. This is already the 5th large project TTCL has won this year. These Projects are 1. a 1,6-Hexanediol Plant for Thai-Caprolactum/ Ube Group 2. a Chlor-Alkali Project (Caustic Soda (NaOH) and Chlorine (Cl2)) from AGC Chemicals (Thailand) 3. a Pilot-Scale API-standard Lube Base Oil Production Unit for PTT Research and Technology Institute, a business unit of PTT Group and 4. a Power Plant from Methane Gas for Bio Natural Energy Co., Ltd. With these new Projects, we now have increased our backlogs to over 10,000 million baht. We will gradually realize the revenues from the second half of this year to next year.

Khun Suvit also explains that The Petrochemical Industry has been recovering while the construction materials prices have fallen down. Therefore, many large petrochemical groups are planning to invest further in building up new plants now in order to complete the plant production in the next 3 years when the Petrochemical Prices should become high again. TTCL is planning to enter many large-scale project biddings with combined value over 32,000 million baht within this year and next year. We have achieved a high Winning Rate of 33% in project bidding thanks to our Know-how and 24-years of EPC Experiences. With over 160 projects completion and world-wide recognition by our global and regional clients, combined with our People Strengths which consists of 817 trained Engineers and Cost-effective Operation, TTCL is well-positioned to benefit from the next round of Petrochemical Investment Cycle. In addition, the EPC Construction is a close industry that the 3 largest general contractors can not enter as they lack both High-level Know-how and Proven International-scale experiences, required by project owners.

The Company also plans to pay an interim dividend of 0.15 baht per shares to all shareholders in late August this year. The dividends will be paid out from the 6-month net profits this year, which we expect to record over a 40% Growth. This Profit growth is consistent with the company growth in the past few years and we are proud to achieve this growth during this economic recession. TTCL has a retained earning of over 331 million baht and no interest-bearing debts. Khun Suvit explains.

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 817engineers from a total headcount of 1,563persons.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.