IR Press Releases

Plew Trivisavavet, Chairman of the Board of Ch Karnchang Plc (CK), said that the company’s revenue has reached its target in 2016 with net profit for shareholders at Bt2,002 million. Revenue from construction and sales of construction materials was Bt45,768 million. Gross profit rate in 2016 was 7.08%. In 2016, CK did not sell investments like years before. The company gained more income from additional work for Xayaburi which the deal has been signed and authorized in Q2/2016. The additional work was to further the project as planned with more world-standard environmental measurement to be executed. This additional work for Xayaburi, however, had lower gross profit rate than the company’s main construction work. As a result, the total gross profit rate for 2016 was affected but the company expected to get back to its usual 8-10% rate in 2017.

Currently, CK has total backlog of Bt89 billion. In the first half of 2017, the company expected to gain backlog for more than Bt50 billion from 3 contracts for the construction of the MRT Orange Line which have been signed on February 8, 2017, with a total value of 46,971 million baht. In addition, there are 2 more contracts waiting to be signed including the M&E equipment finding and installation project on the MRT Blue Line extension for Hua Lamphong-Bangkae and Bang Sue-Tha Phra, with total value of Bt25 billion. The company expected to sign the deal with BEM soon. The other project is the construction of the Bang Pa-in-Saraburi- Nakhon Ratchasima road which contains 4 contracts worth Bt1,982 million. All 5 contracts should boost total backlog for the company to reach Bt100 billion.

Progress for other projects which the company has worked on is currently being executed as planned. In 2016, CK managed to finish construction and open the MRT Purple Line and Sirat Expressway 4 months ahead of schedule. The construction of Jira-Khon Kaen double-tracking railway has progressed by 14.5%. And the company will acknowledge revenue from the MRT Orange Line in Q2/2017.

Plew added that the company is confident that the government will roll out more projects that should benefit Thai public in general including double-tracking railway projects in 5 routes; extensions for the MRT Purple Line, Orange Line, Blue Line and Green Line; and Rama III - Dao Kanong expressway. The company is well-prepared to join the biddings. As for procurement with government agencies, the company has no concern as it should be conducted and executed with transparency and in fair competition according to good governance principles.

In addition, on 28 February 2017, at the meeting of the company’s board of directors, the board has agreed on operation result, determine shareholder meeting to be held on 28 April 2017, and to pay dividend from the company’s second half of 2017 operation at 0.25 baht per share. 15 March 2017 will be the date the company determine names of shareholders allowed to join shareholder meeting for 2017. List of shareholders who will receive dividend from the company’s second half of 2017 operation will be revealed on 9 May 2017 while payable date is 26 May 2017.