Thailand’s Sino-Thai Engineering and Construction announces major restructuring
Responding to the ever-changing business landscape, Sino-Thai Engineering and Construction (STEC) has announced a major restructuring of its shareholdings and management to diversify its business for sustainable growth.
Part of that restructuring, according to STEC director Pakpoom Srichamni, is the setting up of STECON Group (Public Company) as the holding company. This aligns with the new strategic direction to effectively govern and formulate policies for both existing and new high-growth businesses to ensure sustainable and long-term business development.
“We see new business opportunities for further development. In addition to construction work, we want to take advantage of these opportunities to advance our business. The company has therefore invested in high-growth businesses (new S-Curve) and the traditional construction business with a solid backlog of over a hundred billion baht. This approach is also driving an increase in recurring income. However, we continue to emphasise the importance of engineering and construction as our core business,” said Pakpoom.
“We are separating the core business group into two parts. The first is the construction contracting business, operated under Sino-Thai Engineering and Construction. This includes businesses related to providing basic public utilities and energy services, with plans to invest in companies engaged in businesses associated with basic public utilities and energy services,” he said.
Another segment within this group involves infrastructure projects related to transportation and logistics, with plans to invest in companies engaged in these projects as well as other public-sector project.
For the other business group, Sino-Thai plans to invest in new businesses with high growth potential. The company will develop and study the feasibility and returns of these new businesses, such as technology and information technology ventures.
Among them are Wisdom Services Co. which specialises in the sale and rental of large machinery, and has been appointed as an authorized distributor and service provider for leading global brands such as Liebherr from Germany and Kato from Japan.
Additionally, SNT Concrete Solutions is engaged in the production of precast concrete components used in various major projects, including railway projects, elevated highways, bridges, and large-scale tunnels.
Sino-Thai has already established DC Power BN1 to invest in the Data Center business along Bangna-Trat Road. All these initiatives are part of a major strategic change aimed at strengthening Sino-Thai’s business development while considering the interests of stakeholders, society, and the environment.