Eternity Grand Logistics to list on MAI on November 29
Eternity Grand Logistics, whose goal is to be a fully fledged logistics service provider in Indochina, will list on the Market for Alternative Investment (MAI) on November 29.
Managing director Poonsak Thipairat said yesterday that listing on the stock market would boost the company's competitiveness, making it better known to customers and easier to do business with. The company will raise funds from the stock market to expand business in neighbouring countries. Over the next three years, Eternity aims to be a full-service logistics provider in Indochina by covering warehouse management, customer service, transportation and goods distribution with new servicing models. The firm believes its income for this year will be on target at about Bt1 billion, rising from Bt580 million last year. Over the first nine months, it recorded Bt750 million in revenue. Next year, the company expects income to increase 30-40 per cent in line with the continually growing logistics sector. To reduce costs, many multinational companies hire outside logistics service providers. Poonsak said his company would maintain a debt-to-equity ratio of two times, from the current three times, by managing debts and reducing the impact from oil prices. High oil prices are still a crucial factor affecting its income by increasing transportation costs. He estimates that retail diesel prices this quarter will hold at Bt25-Bt26 per litre. Eternity has issued 25 million new shares, of which seven million are for institutional investors, four million to staff and 14 million for the IPO. Siriporn Chanjindamanee
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