TTA raises 3.964 billion baht from right issue

Thoresen Thai Agencies Public Company (TTA) has raised 3.964 billion baht (US$133.601 million) to fund its business expansion plans through a rights offering (RO). Its paid-up share capital will increase from 708.004 million baht to 991.206 million baht following the allocation of 283.201 million newly issued ordinary shares to existing shareholders.

The newly issued shares will begin trading shortly. 

Existing shareholders were given the opportunity to subscribe to two newly issued shares at a price of 14.00 baht per share for every five existing shares they owned and were allowed to subscribe for excess rights of up to 50% of their owned shares. The RO was oversubscribed by nearly 8%.

Shareholders who participated in the RO will also receive warrants at a ratio of one warrant to two newly subscribed shares. Each warrant has a 30-month term and is exercisable into one newly issued share at a price of 17.00 baht. ...More

12 March 2013

The Asset


TTA raises $132.2M

TTA SAID today it has raised 3.964Bn baht ($132.2M) through a rights offering.

Thoresen Thai Agencies added that it plans to use the proceeds "to fund its business expansion plans".

The group noted that its growth strategy "is counter-cyclical": invest now while prices reflect the bottom of the trade cycle, in hope for an upturn in the next 18 months. ...More

11 March 2013



TTA cuts losses in Q1, remains upbeat

The SET-listed Thoresen Thai Agencies Plc (TTA) reported a turnaround in the first quarter of its 2013 fiscal year.Its net loss fell sharply to 138 million baht from 560 million in the same period of the previous year.

Revenue totalled 4.18 billion baht for the three months to December, an increase of 23%, due mainly to its shipping unit and better utilisation of Mermaid Maritime Plc , which operates offshore oil and gas services.

Executive vice-chairman Chalermchai Mahagitsiri said the net improvement resulted from stronger performances at TTA's three main non-shipping units as freight rates in the dry-bulk shipping industry continued to fall. ...More

16 February 2013

Bangkok Post


Thoresen Thai staunches the red ink

Bangkok: Thoresen Thai Agencies is staunching the red ink. Net losses of THB 138m for the first quarter of its 2013 fiscal year that ended on 31 December 2012, compared better than the net losses of THB560m during the same period in 2011. On a normalised basis, earnings before interest and taxes (EBIT) rose 187% to THB 20 million from a negative contribution of THB 23 million the previous year.

The net improvement resulted from stronger performances at TTA’s three main non-shipping business units including offshore division Mermaid Maritime, as freight rates in the dry bulk shipping industry continued to fall. ...More

15 February 2013

Seaship News


Thoresen Thai narrows losses

Thoresen Thai Agencies (TTA) managed to narrow its net loss in the first quarter as revenue improved.

The Bangkok-listed shipping firm recorded net loss of THB138m ($4.6m) in the quarter ended 31 December 2012 compared to a loss of THB560m a year ago.

Revenue for the quarter climbed 23% year-on-year to THB4.18bn due mainly to higher vessel days for Thoresen Shipping and better utilisation and day rates at Mermaid Maritime. ...More

15 February 2013

Seatrade Asia Online


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For more Information

Thoresen Co (Bangkok) Ltd
10th floor Orakarn Building
26/26-27 Soi Chidlom
Ploenchit Road, Pathumwan, Bangkok 10330 Thailand
General Line: +66 2250 0569