RS finance chief airs strategy
RS Plc's new chief financial officer, Chattaphum Khantiviriya, plans to raise the entertainment company's market capitalisation to at least Bt5 billion.
"The ultimate goal is for RS to become the leading integrated entertainment company. I have set the ideal stock market capitalisation at Bt10 billion, or at least Bt5 billion, from the current Bt2 billion," Chattaphum said in a statement issued yesterday.RS's market capitalisation was Bt2.13 billion at the close of trading yesterday. The company's market capitalisation peaked at Bt5.81 billion when its stock hit Bt41.50 in intra-day trading on May 26, 2003. Chattaphum took up his post nearly a month ago. He is responsible for all finance and accounting matters including cost control analysis and planning, communication with shareholders, staff, investors and creditors regarding the company's financial standing. Chattaphum is not new to the entertainment industry. He was chief financial officer of Major Cineplex Group Plc from when the company opened its first theatre on Pinklao Road until it went public. "Even though RS's product is different from my former company, because Major's core product is hardware while RS's core product is content, my experience is still relevant to the company as it involves asset-management maximisation, taxation and financial management," he said. "My first task is to complete the projects started by the company's former finance executive. These include enterprise resource planning." RS posted a net profit of Bt131.68 million in 2004 and Bt433.12 million in 2005. Its first quarter net profit came in at Bt7.84 million. The Nation
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