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Published on July 16, 2007

ABC Technology executives Rungrat Kuysu-wan and Prayoon Jenlapwatanakul will build a Bt1-billion serviced-apartment building in Vietnam.

The apartments in Ho Chi Minh City will cater for expatriates.

Meanwhile ABC Technology itself plans to expand into Vietnam and may be involved in building information systems for a state-owned airport on an unnamed island, which the government wants to promote as a travel destination.

Vietnam has long-term growth potential, it said.

ABC senior executive vice president and chief financial officer Rungrat said the serviced apartments would be in a 20,000-square-metre building and the price included land and construction. The money is borrowed.

Rungrat and chief executive Prayoon will form a company in Vietnam with a local partner. They will hold 47 per cent.

Rungrat and Prayoon expect to enter the hotel business later.

ABC said its airport project was still in the planning stage waiting for government approval for private-company involvement.

At the same time it is in talks with a local partner on establishing a subsidiary or simply an ABC branch office. A subsidiary will need Bt50 million in registered capital.

In Thailand ABC's two major clients are the Social Security Office and the National Health Security Office. Other clients include Thai Airways International, apartments, hotels, a university and a kindergarten.

Its latest five-year, Bt2.89-billion project started in March involved IT systems and management for the Social Security Office. ABC will provide hardware and software, create 29 IT systems and manage the facility.

Rungrat said ABC would continue to bid for new government projects. Its current business partners include IBM and Cisco Systems. Rungrat declined to reveal expected sales figures but said ABC was looking at 10- to 15-per-cent growth this year.

The company will increase its registered capital from Bt170 million to Bt200 million in preparation for listing on the Stock Exchange of Thailand.

Nitida Asawanipont

The Nation