Pylon piles up orders with seven more worth Bt167m

Pylon, a firm specialising in foundation construction, recently secured seven projects worth a combined Bt167.92 million, which it expects will help the company achieve revenue of Bt500 million to Bt550 million this year.

Senior executive vice president Bordin Sangarayakul yesterday said the seven projects could boost the company's work in hand to Bt210 million. Revenue for all seven projects will be realised this year.

 The new projects are Metro Avenue Ratchayothin, Four Points by Sheraton Bangkok Sathorn, Apartment 26-storey at Sukhumvit Soi 55, the Supreme Project, The Circle, Ethane Separation Plant & 6th Gas Separation Plant and MTP07-156 MCB Distillation project.

He said Pylon also plans to bid for other projects worth Bt400 million to Bt500 million by year-end. It expects its bids will be approved for at least 20-25 per cent of the total project value. If Pylon wins the projects as it expects, revenue from those projects is expected to be realised after November.

"Although the US economic meltdown as well as the political conflict in Thailand have reduced the number of the government projects, leading to fierce competition among local contractors, we are confident that our revenue this year will be higher than last year," Bordin said. "This is because we are cautious in our management. That's the reason, the third quarter results have not been affected by these problems," he said.

In addition, the company has

tried to manage operating costs in order to maintain high gross-profit margin.

Bordin believes the competition next year should ease after the political situation improves and the mass-transit projects start construction next year, particularly the purple line.

Pylon is interested in joining the mass-transit projects.

He added that Pylon would widen its target group to contractors who are not its regular customers.