• 
• 

Published on April 23, 2008

The Nation

The estimate was based on a price-to-earnings ratio of between 13 and 13.5 for expected earnings this year of Bt1.46 billion, it said.

TTW plans to make an initial public offering towards the end of May.

The IPO aims to sell 1 billion shares, boosting the firm's capitalisation to 3.39 billion shares with par value of Bt1 apiece.

Established in 2000, TTW obtained a 30-year contract from the Provincial Waterworks Authority to supply water in Nakhon Pathom and Samut Sakhon provinces.

Currently TTW is the largest among 81 private tap-water suppliers, with a processing capacity of 320,000 cubic metres a day.

TTW also owns 98 per cent of the country's second largest operator, Pathum Thani Water, which has a capacity of 308,000 cubic metres a day.

Based on surveys conducted by third-party agencies Thai DCI and Asdecon, it is expected that demand for treated water in TTW's service area will grow by 42 per cent year on year in 2008 and 17 per cent in 2009.

Assuming sales volume will grow 57 per cent year on year in 2008 with an increase in water tariffs, TTW is expected to record 59 per cent growth in net profit this year.

"Looking at 2009, we forecast earnings to grow 22 per cent as water demand should continue to grow,"

it said.