SET-listed Samart Corporation is committed to calibrating its business strategy to ensure sustainable growth amid a stagnant economy and rapid digital transformation.
The company wants to work towards unlimited business solutions this year, said Samart president Watchai Vilailuck.
Samart's performance was strong and sustainable last year after it exited the mobile business in 2018.
In 2020, the company wants to focus on three major categories: high-demand solutions for critical infrastructure, high recurring-revenue projects and high future growth business.
"We target consolidated revenue this year of 20 billion baht, up 40% from 2019," Mr Watchai said. "Some 75% of the revenue will come from projects in connection with the government and state enterprises."
High-demand solution services include banking, payment services, bank-related data centres, airport solutions, cybersecurity and network solutions, he said.
Projects with high recurring revenue include those created by the Provincial Electricity Authority and Airports of Thailand, as well as some commercial banks, Mr Watchai said. These projects are expected to generate 6.2 billion baht in revenue for the firm this year, up from 5.4 billion last year, he said.
Regarding the high future growth business, Samart has been involved with the construction of a substation under a project run by the Electricity Generating Authority of Thailand, an underground cable scheme with the Metropolitan Electricity Authority, as well as a solar energy scheme.
The company is aiming to list its subsidiary, Samart Aviation Solutions (SAV), on the stock market by March.
Founded in 2017, SAV holds a 100% stake in Cambodia Air Traffic Services. CATS is the sole concessionaire running air navigation service for Cambodia from 2002 to 2041.
Mr Watchai said the company has adjusted its business portfolio for years to boost revenue with sustainable growth. Its solutions service is projected to account for 50% of revenue in 2020, up from 40% last year.
The company's two core revenue generators are Samart Telcoms Plc, a technology and network solution provider, and Samart U-Trans, which runs utilities and transport business.
Samart Telcoms, which participates in state projects, now generates 55% of the group's revenue, while earnings from Samart U-Trans account for 30%.
Mr Watchai said Samart Digital, one of Samart's major business groups, has performed well with digital trunked radio service (DTRS) nationwide.
The DTRS system provides private network communication for state units and the industrial sector via the most reliable two-way radio network designed for mission-critical activities with full features.
Samart Digital has also entered a new business installing equipment and maintenance service for Google's free WiFi with CAT Telecom.