Jan 17, 2013

More Myanmar work on tap for water firm

Phol Dhanya Plc (PHOL) will expand its water-treatment business in Myanmar this year after its first project is completed by March.

The company is studying the possibilities and seeking partners for new projects.

Phol Dhanya recently set up a representative office in Myanmar to offer its products for health care, safety, the environment and business. The MAI-listed company expects 5% of its sales to come from Myanmar this year.

Chairman Chavalit Wangthamrong said the company will also expand water-treatment projects in Thailand with a budget of 200 million baht.

Phol Dhanya expects revenue growth of 10-15% to 800 million baht this year.

In the next five years, it targets 2.5 billion baht in revenue on aggressive expansion, both at home and abroad.

Thailand's water-treatment businesses have plenty of room to grow, said Mr Chavalit.

He said the provinces are a fast-growing market due to inadequate waterworks.

Phol Dhanya has the capacity to treat 1 million litres per day.

The firm recently promoted Boonchai Suwanvutthiwat to chief executive from chief of sales.

Shares of PHOL closed yesterday on the MAI at 4.14 baht, unchanged, in trade worth 2.33 million baht.

Source: Bangkok Post