Samart's acquisition sights set on two firms
Samart Corp is conducting due diligence on two companies as part of its plan to acquire major stakes, company president Watchai Vilailuck said yesterday.
He said Samart expected to announce the final outcome of negotiations before the end of the year. However, he declined to specify the target companies, adding only that they could support Samart group's plan to diversify into new businesses. Its existing businesses range from mobile-phone sales to energy and air traffic control services. In a separate matter, the company's digital security product provider Vision and Security System yesterday announced it expected revenue of Bt200 million this year and Bt500 million next year, before jumping to Bt1 billion in 2009. Watchai said revenue growth would be from its aggressive expansion into the individual segment and small and medium-sized enterprises, after focusing on large private and state organisations last year. Samart owns 70 per cent of Vision, which was founded last year with capital of Bt20 million to provide surveillance-camera products and related services. Among its customers are the Defence Ministry, the Royal Thai Police and Suvarnabhumi Airport. Vision estimates the value of the security market will reach Bt3 billion next year before rising to Bt4 billion in 2009, when it expects to secure a 30-per-cent market share. Its share is now about 10 per cent.
Sirivish Toomgum The Nation
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