SET-listed constructor Ch. Karnchang Plc (CK) is aiming for 30-40 billion baht worth of new projects this year, mainly from the government's massive infrastructure projects.
Chief executive and chairman Plew Trivisvavet said the company expects to win 25-30% of the 2-trillion-baht projects.
"With our vast experience and expertise in infrastructure construction, CK is well set to compete in the bids for construction," he said.
CK targets its revenue to grow to 25-28 billion baht this year from 22 billion last year.
It recently signed a contract with the Mass Rapid Transit Authority of Thailand to construct the extension of the Green Line route between Bearing and Samut Prakan, worth about 2.4 billion baht.
Mr Plew expects to ink an agreement very soon with the government to manage the Purple Line project, including supplying trains and all equipment, worth 20.78 billion baht.
CK's backlog stands at 165.92 billion baht, with 20 contracted projects.
It recently earned 3-4 billion baht by selling stakes in Thai Tap Water Plc and BMCL.
CK plans to issue debentures worth 3-4 billion baht by the middle of this year, mainly to restructure its debt and strengthen its long-term financial status.
Subsidiary CK Power Plc expects to launch an initial public offering by the third quarter of this year.
The company plans to float 220 million shares at 5 baht par. Of the total, 180 million shares will be newly issued and the rest held by existing shareholders.
Proceeds from the IPO will go largely to finance three projects including the Xayaburi hydroelectric power plant in Laos.
Shares of CK closed yesterday on the SET at 27.25 baht, down 50 satang, in trade worth 620.20 billion baht.
About the author
- Writer: Piyachart Maikaew
Position: Business Reporter