He noted that the financial year-end of Ticon Group Company was changed from December 31 to September 30 to match the Frasers Property Ltd (FPL) operating framework.

Accordingly, the fiscal year 2018 will cover only nine months from January 1 to September 30, 2018. The comparative figures for the following fiscal year are for 12 months from October 1 to September 30. Based on a nine-month operating result this year, Ticon’s consolidated revenues totalled Bt3.81 billion, comprising Bt1.15 billion from rented factory and warehouses spaces, Bt2.21 billion from sales of quality assets to Ticon Freehold & Leasehold Real Estate Investment Trust (Treit), and Treit management fees of Bt227 million.

“We also expect continued growth in our fiscal year 2018/2019,” he said.

The company plans to sell 80 million initial public offering (IPO) shares in order to raise working capital to be used for collateral to secure bank loans, to purchase equipment and machinery as well as for IT development, said financial advisor Piyapa Jongsathien, managing director of S14 Advisory Co Ltd yesterday.

CAZ’s chief executive Soong Sik Hong said that this fundraising would enable the company to increase its capability to serve more future works.

The funds raised will be used as collateral for securing bank loans and investing in equipment and IT development, he said. CAZ’s core business includes engineering design service, machinery and equipment supply as well as engineering, procurement and construction (EPC) for the oil, gas and petrochemical industry.

To fulfil customer needs, the company’s services range from project owners to main contractors. Since CAZ services are sophisticated and safety measures restricted, the expertise is highly required, according to a Tuesday release from the company. The company’s business and services comprise four main categories – engineering, procurement and construction; structural mechanical piping and clectrical and instrument service; civil and building service; and fabrication and other services.

 For the first 10 months of the year the trust is paying out distributions totalling Bt0.5997 per unit to unit holders.

The existing portfolio consists of the Pullman Jakarta Central Park, Capri by Fraser in Ho Chi Minh City, and IBIS Saigon South, also in Ho Chi Minh City. SHREIT plans to make additional investment in two other hotels in Asia, which would push its combined assets to over Bt10 billion and make it the largest REIT in the hospitality industry to be registered with the Stock Exchange of Thailand (SET). This will create continuous and secure revenue growth for the trust and robust returns for unit holders, said a company press release on Tuesday.

Patan Somburanasin, managing director of Strategic Property Investors Co Ltd, which manages SHREIT, said SHREIT is paying distributions Bt0.2561 per unit to unit holders after announcing its third quarter performance that saw a profit of Bt79.44 million. This is a jump of 144 per cent on the previous quarter. It has set the book-closing date for December 19, 2018 and the payout date for December 28, 2018.

Kovit Kantapasara, chief executive of GE Thailand and Laos, said that GE Power Services is waiting for the certainty of Thailand’s new Power Development Plan (PDP), which will reveal the country’s demand for power over the next five to 10 years.

GE Power Services has meanwhile shifted to new business, focusing on IPPs and SPPs which need to invest in services and work processes. They need flexible yet stable power generation equipment with higher efficiency and ability to be quickly put back into service after maintenance and repair.

The new cross-fleet business will upgrade gas turbines for higher efficiency . Thailand is a major market, with SGT-800 gas turbines using power and steam production processes, the most in the world, Kovit said.

“GE has invested $1 billion to develop technology and apply GE technology with other producers’ equipment in the past few years at the request of customers. GE provides maintenance service for all brands of machinery and is the first in the world with these multi-year agreements. About 350 staff have been hired, and about $60 million spent on research and development for the cross-fleet service to bring confidence for customers,” he said.

GE has the orders in hand and is waiting for installation of over $200 million worth of equipment for its cross-fleet service and will penetrate into Thailand next year, he said. The company expects to see results within six to 12 months negotiation begin with nearly all power plants in Thailand.

Kovit said the business has a chance to grow, as it is difficult to see new SPPs in the future and these power plants will likely opt to improve machinery, given lower costs.

Earlier, GE had provided cross-fleet service to Mexico’s 700-megawatt Tuxpan power plant under a 12-year contract, helping it save Bt100 million yearly in fuel costs and increase power production capacity by 9.2 per cent. This will be the model for upcoming projects, Kovit said.

GE’s ongoing projects in Thailand include installation of machines in the 270-megawatt wind farms of Wind Energy Holding in Nakhon Ratchasima and Chayaphum provinces, with estimated completion in mid-2019, the 600-megawatt Mae Moh power plant, and the 1,500-megawatt Bangpakong power plant with estimated completion in 2020.