mai welcomes listing of logistics service provider "MPJ"

mai President Prapan Charoenprawatt said that MPJ will be listed and start trading on mai in the Services industry group.

MPJ and its subsidiaries provide integrated logistics services mainly to import and export operators and sea freight forwarders for domestic and international transportation. Its services span four categories: 1) Container drayage services connecting Laem Chabang Port and Ladkrabang Inland Container Depot (ICD), with a fleet of 221 prime movers and 257 trailers; 2) Container depot management services, including container handling, storage, repairs, and cleaning at its depot facilities located near Laem Chabang Port; 3) International freight forwarding services, offering both sea freight and air freight bookings; and 4) Custom-built warehouse rentals in the vicinity of Laem Chabang, Chonburi, and Ban Khai District, Rayong. For the first six months of 2024, the company's revenue breakdown by these four service categories was 51 percent, 32 percent, 15 percent, and 2 percent respectively.

MPJ has a paid-up capital of THB 100 million after the IPO, consisting of 147 million existing common shares and 53 million newly issued shares, with a par value of THB 0.50 per share. The company offered 49.426 million shares to subscribers at the underwriters' discretion, 2.87 million shares to its patrons, and 0.704 million shares to its directors, executives, and employees from October 28-30, 2024. The IPO price was set at THB 6.0 per share, representing THB 318 million in fresh funding and the price-to-earnings (P/E) ratio of 13.65 times. The earnings per share is equivalent to THB 0.44, calculated from the company's net profit over the last 12 months (from July 1, 2023 to June 30, 2024), divided by fully diluted shares. Capital One Partners Co., Ltd. is the financial advisor and Globlex Securities Co., Ltd. is the lead underwriter.

MPJ Chief Executive Officer Jirasak Manatrakul revealed that the company is strategically located merely 11 kilometers from Laem Chabang Port in Sriracha, and has recorded steady growth throughout its 16 years of operations in parallel with the port's thriving import-export activities. The company has earned the trust of OOCL Logistics (Hong Kong) Limited, a leading global shipping service provider, serving as a primary container storage management partner for OOCL Group. The company plans to utilize the IPO proceeds for repayment of warehouse business expansion loans to financial institutions, replacement of prime movers and trailers, container yard equipment upgrade and acquisition, Enterprise Resource Planning (ERP) system development, and working capital.

MPJ's major shareholders after the IPO are Jirasak Manatrakul's group (55.50 percent), the Liptapanlop family (11.50 percent), and the Wiriyapanichphakdee family (6.50 percent). The company's dividend policy is to pay shareholders at least 40 percent of its net profit based on the separate financial statements after corporate income tax and legal reserves.

For more information on MPJ, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th, and general information on www.mpjlogistics.com and www.set.or.th.

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