2023-05-24 09:09:00
Major restructuring! SCG Decor moves forward with filing to be listed on the Stock Exchange of Thailand. is the core company in the surface decoration and sanitary ware business of SCG listed on the Stock Exchange of Thailand After COTTO’s shareholders gave confidence to approve the delisting plan from the stock market. and participated in major restructuring Confident that it will benefit COTTO shareholders who accept the tender offer from SCG Decor, elevate it to become a leading shareholder in the decorative and integrated sanitary ware business in ASEAN with increased sales and business potential. with the opportunity to expand into a larger regional market
Mr. Nampol Malichai, Chief Executive Officer and President of SCG Decor Company Limited or SCG Decor and Managing Director SCG Ceramics Public Company Limited or COTTO announced that COTTO shareholders had approved at the Extraordinary General Meeting No. 1/2023 on May 23, 2023 to delist its securities from the stock market. According to the business restructuring plan to make SCG Decor become the core company in SCG’s decorative surface and sanitary ware business listed on the Stock Exchange of Thailand. only one company At the said meeting, COTTO shareholders expressed their confidence and support. with more than 87% of the total issued and paid-up shares of the Company and there was no objection from shareholders of more than 10 percent of the total issued and sold shares of the Company. which passed the specified criteria
Mr. Nampol said that the company would like to thank COTTO shareholders for their confidence in approving the delisting of securities from the stock market. to restructure It is expected that COTTO shareholders will accept the tender offer from SCG Decor to grow together. Become a shareholder in a company with increasing potential for the opportunity to expand the larger ASEAN regional market Today, when COTTO has received approval from shareholders, it will restructure with SCG Decor and prepare to list SCG Decor on the Stock Exchange of Thailand.
COTTO shareholders who accept the tender offer from SCG Decor will change their status from COTTO shareholders. which is the leader in the floor and wall tiles business in Thailand, becomes a shareholder of SCG Decor, a leading company in the decorative surface and sanitary ware business in ASEAN, namely SCG Ceramics Public Company Limited. or COTTO, a manufacturer and distributor of floor and wall tiles in Thailand with the number one market share, Siam Sanitary Ware Co., Ltd. (SSW), a manufacturer and distributor of sanitary ware in Thailand and exporter. with the number one market share in Thailand, Prime Group, the number one market share floor and wall tile manufacturer in Vietnam, Mariwasa-Siam Ceramics, Inc (MSC), the number one floor and wall tile manufacturer and distributor in Vietnam. Floor and wall tiles in the Philippines with the number one market share, PT Keramika Indonesia Assosiasi, Tbk (KIA), a floor and wall tile manufacturer and distributor in Indonesia. which has a population of 276 million people, the highest in ASEAN;
From the synergies between the companies in the group, SCG Decor will elevate itself to become a leading shareholder in the surface finishing and integrated sanitary ware business in ASEAN that has the opportunity to expand into a larger regional market and can increase business potential. higher in several areas, including
1)Sales increased 2.3 times from 13,224 million baht to 30,886 million baht in 2022 and net profit attributable to equity holders of the company. (Excluding special items) increased 2.6 times from 449 million baht to 1,163 million baht in 2022.
2)The market is getting bigger. From Thailand with a total population of 71.7 million to markets in Thailand, Vietnam, the Philippines and Indonesia. with a total population of over 560 million people
3)Production capacity in surface finishing business increased from 80 million square meters per year in Thailand to 187.2 million square meters per year in Thailand, Vietnam, the Philippines and Indonesia.
4)Distribution channels increased 9 times from 1,200 to over 10,000.
5)Retail stores increased from 103 stores in Thailand to 142 stores in Thailand. the Philippines and Indonesia, and
6)Total assets increased 3.6 times from 11,310 million baht to 40,576 million baht.
SCG Decor plans to combine synergies between companies in the group. To increase efficiency in cost management and to become the leader in the surface finishing and complete sanitary ware business in ASEAN under 5 main strategies, namely 1) expanding the sanitary ware business to become a leader in the ASEAN region; in Decor Surfaces business in Thailand and aims to be the leader in Decor Surfaces business in ASEAN region. By applying the strong business model of Thailand. 3) Business expansion into related products and services. To emphasize being a leader in providing integrated services in the surface and sanitary ware business (Decor Surfaces and Bathroom) 4) Supply Chain Management both in production and procurement for maximum efficiency To increase the ability to generate income and profit potential, and 5) stable and sustainable growth through the development of environmentally friendly products. as well as environmentally friendly processes under world-class standards
On March 30, 2023, SCG Decor announced a tender offer for all of COTTO’s shares from all shareholders who accepted the tender offer at a price of 2.40 baht per share, which is higher than the current trading price on the SET. and higher than the price on the announcement date, which will be paid for shares in SCG Decor’s newly issued ordinary shares only, which will occur at the same time as the IPO of SCG Decor. SCG Decor and COTTO will inform the investors and shareholders of the progress accordingly.
Currently, SCG Decor is in the process of filing an application for an offer for sale of securities and a registration statement for the sale of securities (Filing) to the Securities and Exchange Commission (SEC).
Mr. Namphon also said that the proceeding to raise funds and be listed on the stock market. will increase the strength of SCG Decor to support the plan to expand the decorative and integrated sanitary ware business in ASEAN which is a larger market and a growing economy Confident that with SCG Decor’s strength from being a leading company in the surface decoration and complete sanitary ware business in ASEAN The synergies between affiliated companies will create stable growth and benefit all shareholders and stakeholders.
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