Chalieo Vitoorapakorn said the listed manufacturer of polymers and plastic products had about 10 offers to choose from at present.

He said the value of the proposed deals were not inexpensive as investors in general were ready to pay higher prices given the current low-interest-rate situation. The company’s recent bid for a business priced at 12 times the acquiree’s earnings was turned down at the initial stage of the process by a seller, he said.

EPG has budgeted Bt1 billion for M&As during the next two years, with most of them companies in other countries which could expand in Thai market.

“We won’t buy for unreasonable prices that take too long time for reach break even. If it’s really good, we may able to offer 20 times price to earnings,” he said.

The company’s debts are currently only 0.35 times its equity, meaning it has comfortable room to invest more.

Chalieo told the Stock Exchange of Thailand’s “Opportunity Day” forum yesterday EPG could reach its target of having Bt10 billion annual revenue within three years, through spending only Bt1 billion for expanding its production capacity during the next two years.

According to a EPG document distributed at the investors event, its automotive business run under the Aeroklas group of companies is in close discussions with a domestic auto company and there is a “possibility” of it forming another joint venture in Thailand, while there is another joint venture planned for aboard.

Chalieo said EPG was also looking to start expanding its plastic packaging business overseas by establishing factories in other Asean countries, beginning next fiscal year.

He said the expected rise of US interest rates would drive up the value of US dollar which will benefit EPG as it derived 62 per cent of its revenues from exports and overseas units.

Chalieo added that EPG was invited to take part in the SET’s Thailand Focus event this week and at a roadshow in Singapore organised by JP Morgan this November.

EPG announced a net profit in the first quarter of its current fiscal year (ended June 16) that jumped 32 per cent year-on-year to Bt381.1 million.

Sales revenue in the quarter reached Bt2.3586 billion, up 13.7 per cent.