BANGKOK, Nov 1, 2023 – (ACN Newswire via SeaPRwire.com) – Euroasia Total Logistics Pcl (ETL), a comprehensive cross-border transportation carrier, made its debut on the Stock Exchange of Thailand (SET) on November 1, 2023. The first Thai stock to operate a cross-border logistics business, ETL plans to expand its service capabilities, develop technological systems, and invest in vehicles, container yards, and both dry and reefer containers. The company is committed to being a comprehensive and flexible logistics provider, reaffirming its position as “The Cross-Border King.”
Ms Krishavan Chuecharoenchai, Managing Director of Euroasia Total Logistics Pcl (ETL), reports that the company’s shares were listed on the SET on November 1, 2023, in the transportation and logistics business sector under the ticker “ETL”. The company operates a cross-border logistics business between Thailand and countries in Southeast Asia, Hong Kong, and China. ETL is also committed to linking cross-border logistics to Europe in the future. Miss Krishavan expects that ETL will be one of the stocks that attracts investor interest.
The company plans to use the proceeds from its IPO, after deducting related expenses, to expand its business, aiming to become a comprehensive and flexible logistics provider that meets customer needs with the adoption of resourcefulness. The proceeds will be divided into three parts:
1.) 70% for business expansion, including investments in vehicles (prime movers and semi-trailers) to expand transportation capacity, temperature-controlled containers (Reefer Container) and standard containers (Dry Container), container yards to store containers, park vehicles, and repair and maintain the company’s assets, as well as investments in transportation management systems to support increased services.
2.) 20% to repay payable and loans, including repayment of payable from the business acquisition in 2021 and repayment of loans from financial institutions to reduce financial costs.
3.) 10% as working capital to support the company’s expansion.
The Managing Director of ETL says that the business expansion is a major opportunity for the company to grow rapidly in the future. The company plans to expand its customer base to new groups, especially fruit, pharmaceutical, and medical products. These products have a limited shelf life and require efficient, reliable, and timely transportation. ETL can provide safe and quality transportation services that meet customer needs. The company also plans to increase the number of vehicles to support future growth. With its experience and customer base, ETL plans to expand the number of prime movers and semi-trailers, as well as invest in reefer containers to meet customer demand. The company also plans to develop infrastructure to connect cold chain logistics systems. This will add value to services and improve quality by focusing on maintaining the original quality of products until they reach the end customer.
“The founding executives of the company are all confident in the cross-border logistics business. Over the past few years, ETL has grown organically with the support of our customers. Our goal is to enter new markets and expand our customer base. We will continue to grow both organically and inorganically. ETL is ready to be a growth stock for investors,” says Miss Krishavan.
ETL has the potential to grow significantly due to its business plan to add value to its transportation services by expanding into temperature-controlled logistics. According to a recent analysis, the value of Thai agricultural and food exports is over THB 200 billion. This shows the potential demand for temperature-controlled transportation, such as fresh and chilled fruits, which are important Thai exports to China. ETL has a network and businesses in these countries, so it sees the opportunity to grow significantly, not just in the next 3-5 years, but in the long term. This is a key difference compared to other companies in the industry.
Press release distributed by MT Multimedia Co., Ltd. on behalf of Euroasia Total Logistics Pcl.
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