MILL jumped 6.74% or increased 0.06 baht to 0.95 baht, trading value 8.78 million at 15.43 from the opening price of 0.89 baht, the highest price of 0.97 baht, the lowest price of 0.89 baht.
Mr. Prawit Horrungruang, President of Millcon Steel Public Company Limited (MILL), revealed that the Board of Directors has resolved to allocate 462 million newly issued ordinary shares to specific investors (Private Placement) in the amount of 462 million shares. Sold 0.79 baht per share, totaling 364.98 million baht, to 1. Mr. Thanachart Kitpipit 2. Mr. Sura Kanitthaweekul 3. Dr. Pongsak Thammathatchaaree 4. Mr. Thaweesak Tangdenchai and 5. Mr. Narong Chai Simaroj sets the payment period within 16-31 Aug. 65
This offering of capital increase shares to PP has the main objective. raise capital to invest in expanding businesses that focus on the environment Social and Governance or ESG This is in line with the MILL Group’s strategic plan that adheres to the circular economy business model, doing business that is environmentally friendly and reduces global warming. In addition, it is used as working capital.
“The PP capital increase will not only strengthen the financial position of the MILL group. It also helps to promote investment potential. causing the company to have higher liquidity in business operations And investors who have been allocated PP shares are general investors who want to invest in stocks that do business that cares regarding the environment. Society and Governance or Good Governance (ESG),” said Mr. Prawit.
For the performance of MILL in 2Q22, net profit was 53 million baht, a decrease of 12 million baht compared to the same period last year. This was because the Company had extra expenses incurred from 2 parts: loss from fair value measurement of joint venture company of 47 million baht and expenses incurred from production halt of 22 million baht. Including such extra expenses, the company will have a net profit of 122 million baht.
In this regard, the Company had revenue from sales and services of 4,822 million baht, a decrease of 4.2% compared to the same period of the year 64 due to a decrease in overall sales volume. while cost of sales and services stood at 4,571 million baht, a decrease of 4.3% from the same period last year. according to the decrease in sales volume As a result, the company had a gross profit of 250 million baht, close to the previous year.
Mr. Prawit spoke regarding the steel industry overview during the second quarter of 2022 that although the overall Thai economy has improved from the previous quarter. After the Covid-19 situation has eased, the domestic steel industry continues to suffer from the increasingly tense conflict between Russia and Ukraine. causing inflation to be at a high level As a result, the demand of the downstream industries slowed down. including the production and consumption of steel products
According to information from the Iron and Steel Institute of Thailand During the second quarter of 2022, it was found that the total consumption of pre-fabricated steel was 4.74 million tons, a decrease of 8.5% from the same period last year. The consumption of long steel was 1.75 million tons, an increase of 0.8% from the same period last year. And consumption of flat steel was at 2.99 million tons, a decrease of 13.2% compared to the same period last year.
