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| Opening addresses Prominent enterprises |
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| Mr. Matthew Kuan - Managing Director |
TICON commenced business by providing custom-developed factories for sale or lease. Through experience in this market, TICON became aware that what a large number of incoming manufacturers were looking for was (1) a fairly standard factory, and (2) to be in production within a few months, which made developing a custom building within their timescale difficult.
Product development
In 1993, TICON therefore started developing standard factory buildings for sale or rent. The majority of customers favoured renting, so this became the main focus of the company’s business. TICON also recognised customers’ needs for assistance in obtaining the required licences work permits for expatriate staff, etc., as well as connection to utilities at required capacities. Today, TICON provides this assistance at no extra charge.
The present business
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Over the next nine years, TICON had gradually increased the scale of development, and fines-tuned its services according to customers’ needs.
By the end of June 2002, the company had 80 factories leased out, 10 available for leasing, and 20 under construction.
In order to finance the expansion of the business, TICON carried out an IPO and listed on the Stock Exchange of Thailand in June this year.
Future plans
With the proceeds from the IPO and the broader equity base secured through the SET listing, TICON is able to further increase the scale of development. Additional land has been acquired to develop new factories in 2003.
The number of locations the company can offer to its customers has been extended to 6, and will be further extended during 2003.
As a user-focussed company, future direction in the longer term will depend on customer demand as Thailand’s industrial landscape develops.
Ticon
Industrial Connection Public Company Limited