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Date/Time
14 Feb 2022 12:36:00
Headline
mai News :mai welcomes oil terminal "PTC" on Feb 15
Symbol
SET
Source
SET
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                                                                     SET News 10 /2022
                                                      February 14, 2022

mai welcomes oil terminal "PTC" on Feb 15
 
BANGKOK, February 14, 2022 - Market for Alternative Investment (mai) will list 
Premier Tank Corporation pcl, the oil terminal provider in the northeastern
region of Thailand, on February 15, under the ticker symbol "PTC". The company
has a market capitalization at tis initial public offering (IPO) of THB 1.44
billion (approx. 43.6 USD million).

mai President Prapan Charoenprawatt said that PTC will list and start trading on
 mai in the Resources industry group.

PTC operates  the oil terminal of petroleum business in compliance with Section 
17 of the Fuels Oil Control Act, B.E. 2542 (1999), with main services consisting
of loading, storing and unloading fuels. The company has two oil terminals : 1)
a depot in Khon Kaen province containing 10 oil storage tanks with a total
volume of 9.0 million litres, accommodating 1.4 billion litres per year of each
loading and unloading capacity; and 2) a depot in Sisaket province having 10 oil
storage tanks with a total volume of 9.7 million litres, accommodating the
annual loading and unloading capacity of 830 million litres and 770 million
litres , respectively.

PTC has two groups of customers: the first group is oil traders categorized 
according to Section 7 of the Fuels Oil Control Act (direct customers),
currently having PTT Oil and Retail Business pcl (OR) as the sole customer; and
the second one consists of gas stations (indirect customers), mainly located in
the upper and lower part of the country's northeastern region. Moreover, PTC
provides blending  services of basic formula according to customer needs at the
Sisaket oil depot, enabling services specifically to gas stations under various
brands.

The company has a registered paid-up capital of THB 205 million, consisting of 
300 million existing common shares and 110 million newly issued shares, with a
par value of THB 0.50 each. It offered 105.61 million newly issued shares to
persons at the underwriters' discretion, and 4.39 million shares to the
company's directors, executives  and/or staff during February 4 - 8 at THB 3.50
each, for a total of THB 385 million. The IPO price was equivalent to the
price-to-earnings ratio (P/E ratio) of 13.81 times. The earnings per share is
equal to THB 0.25, which was calculated from the company's net profit of THB
103.93 million  in  the past four quarters (from Oct 1, 2020 - Sept 30, 2021)
divided by fully diluted shares. Finnex Advisory Co., Ltd. is its financial
advisor and Finansa Securities Co., Ltd. is the lead underwriter.

PTC Chief Executive Officer Weerawat Burapapattanapong stated that PTC is one of
the  oil terminal operators that play major roles in the distribution of fuel
to the gas stations in the northeastern region with safety and efficiency, and
at a reasonable cost. Moreover, PTC aims to boost the logistics efficiency of
loading and unloading oil via a variety of storage transfer methods, and
increase the number of gas station customers. The proceeds arising from the
fundraising will be used for debt repayment to financial institutions and as
working capital. Furthermore, the company plans to build an oil pickup railway
station at Sisaket fuel depot in order to enhance the potential in servicing
customers and cut down their transportation cost.

PTC's two major shareholders after the IPO are 1) Burapapattanapong  family 
group (51.16 percent), 2) C4 Corporation Co., Ltd. - a wholly-owned subsidiary
of TAPAC -  (16.83 percent). The company's dividend policy is to pay no less
than 40 percent of net profit from the company's separate financial statement
after all legal reserves.

For more information, please see the company's prospectus at the Securities and 
Exchange Commission (SEC)'s website at www.sec.or.th; and for general
information, please visit www.premiertankcorp.com, or www.set.or.th.

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