The Siam Cement Public Company Limited (SCC) had announced that its Cement-Building Materials business, one of its core businesses, had undertaken two share purchasing transactions to increase its stake from the existing 50% to 100% in two companies in its logistics businesses with the total book value of both companies as shown in their audited financial statements as at December 31, 2017 of ฿131 million. Both transactions are expected to be completed in the first quarter of 2019.
1. Increase stake in Thai Prosperity Terminal Company Limited (TPT) to 100%, by entering into an agreement with Panjamitr Holding Company Limited, the existing shareholder through SCG Trading Company Limited, a 99.97% indirectly owned subsidiary of SCC.
TPT provides commercial port operation management services for both import and export consisting of Phra Pradaeng Port and Map Ta Phut Port. In 2018, TPT estimates the revenue of approximately ฿380 million with the total assets of ฿343 million.
2. Increase stake in Bangkok Interfreight Forwarding Company Limited (BIFC) to 100%, by entering into an agreement with Ngow Hock Company Limited, the existing shareholder, through SCG Logistics Management Company Limited, a wholly owned subsidiary of SCC.
BIFC provides water transportation services for containers and container moving services at the ports of TPT. In 2018, BIFC estimates the approximate revenue of ฿142 million with the total assets of ฿76 million.
The aforesaid majority controlling stakes will allow SCC to provide seamless logistics services in the areas of port and freight forwarding while enhancing asset utilization and domestic Port to Port expansion.