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Thai alternative bourse to list Ocean Commerce on December 23   
BANGKOK, December 20, 2013 – The Stock Exchange of Thailand (SET) welcomes Ocean Commerce pcl, an importer, assembler and manufacturer of faucets, water supply products, and sanitary wares, to its Market for Alternative Investment (mai). The company will list and start trading on December 23 under the ticker symbol "OCEAN," with a market capitalization of THB 396 million (approx. USD 12.38 million).

SET Executive Vice President Chanitr Charnchainarong said that OCEAN will be the 15th new listing on mai this year. The company operates under the brands “DUSS,” “Saza,” “3P,” “Bay,” “Bay-Tex,” “Feed,” “Union,” and “Icon.”
OCEAN has a paid-up registered capital of THB 110 million, with a par value of THB 0.25 each, consisting of 340 million existing common shares and 100 million newly-issued shares.

The new share issues were offered to the general public through an IPO on December 16-18, at THB 0.90 per share, for a total of THB 90 million. Asset Pro Management Co., Ltd. is the company’s financial advisor, and Capital Nomura Securities pcl is its underwriter.

Uchai Vilailerstpoca, Managing Director of OCEAN, said that the company was committed to consistently develop its production effectiveness and quality in order to offer safe, good quality products at reasonable prices, following its slogan “DUSS for better life.” Fundraising proceeds would be used to improve efficiency of existing production line, to expand its factory in Singburi province and for working capital.  

OCEAN's three major shareholders after the IPO are Mr. Uchai Vilailerstpoca (76.00 percent), the Ngamarunchot Group (1.27 percent) and Miss Ploypaphat Sittirujjiroj (0.50 percent). The IPO price had a price-earnings (P/E ratio) of 24.23 times, calculated using earnings over the last four quarters (from October 1 of 2012 to September 30 of 2013), divided by the number of fully-diluted shares, equivalent to earnings per share of THB 0.04. The company's dividend policy is to pay no less than 40 percent of net profits after corporate taxes and reserve.

For more information on OCEAN, please see the company's prospectus at the Securities and Exchange Commission's website at and general information at the company's website at and

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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