The Stock Exchange of Thailand has announced the stocks to be calculated in SET100 in the first six months of 2016. Global Power Synergy Public Company Limited (GPSC), PTT Group's Power Flagship and one of Thailand's leading producers and distributors of electricity, steam and utilities, is officially listed effective on January 1, 2016 onward, reflecting its solid foundation and bright future which will attract both international and institutional investors.
Dr. Toemchai Bunnag, President of Global Power Synergy Public Company Limited (GPSC), said that the Stock Exchange of Thailand (SET) has selected a new batch of stocks to be calculated in SET100 in the first six months of 2016 (January 1 – June 30, 2016). GPSC is in that list, which confirms that it is a listed company with high market capitalization and fluidity. This in turn reflects the confidence that investors have in GPSC. Being calculated in SET100 will further add to GPSC’s credibility and attract institutional and international investors, strengthening the investment weight of the company.
GPSC continues with its growth strategy which involves both domestic and international expansion. The company is not affected by the volatile global economy which is the pressure from global oil price declining continuously. GPSC is assured that electricity and utility is the world’s mega trend today, because it generates steady and stable income with long term contracts, so it is not greatly affected by economic volatility like the energy industry in general.
GPSC’s business is stable even when the economy fluctuates because our main business is utility with 15-25 years’ contracts. Our main customers are governmental organizations and the industrial sector, which are quite stable, so our revenue recognition is certain. Our executives also have great visions in expanding both domestically and internationally, with a goal to grow every year. Our short-term goal is to increase our electricity generation capacity according to the Equity MW by 600-1,000MW in 2019 which will boost our growth. Therefore, GPSC is a steady business, which meets the investment needs today,” Dr. Toemchai said.
“Furthermore, our 9-month performance in 2015 saw a 33% growth compared to the same period last year, while our third quarter performance saw a 19% increase in net profit compared to the second quarter of this year. Our net profit has grown significantly, reflecting our company’s ability to generate profit according to plan. Our projects that we have invested in and developed both in Thailand and overseas are also progressing as planned, partly because of our short-term strategy, which is to invest in operating and under-construction businesses. Once all of them are completed, the profit will grow significantly. For our long-term goal, GPSC will invest in major projects and other relevant projects to stabilize our growth,” he added.