Message from Chairman and Managing Director

"PMTA determines to further develop and improve the quality of our products and services in order to retain customers trust towards the Company. We believe that the experiences and determination of our managements and employees will lead the Company towards the sustainable growth."

Key Development during the Past Year

PM Thoresen Asia Holdings Public Company Limited was successfully listed in the Stock Exchange of Thailand since 2015. PMTA was the second security of Thailand that listed in the form of Holding Company which had main business in foreign country. Baconco Company Limited (“Baconco”) is the core company which its primary operation is chemical fertilizers and agrochemical products’ manufacturer in Vietnam.

In 2017, PMTA is able to maintain a strong performance despite of challenges from both domestic and international economic situations. This year, domestic sales volume grew 6%. Therefore, PMTA delivers a strong operating result with total revenue of Baht 2,876.9 million with a net profit of Baht 191.8 million.

In August 2017, Vietnam government authority has imposed temporary safeguard duties on DAP and MAP fertilizers that are imported to Vietnam leading to the rapidly price increase of DAP and MAP. However, Baconco has already imported sufficient amount of DAP to cover the needs during the period that the safeguard is implemented therefore, the affect from the safeguard duties is limited. Moreover, the demand of fertilizer in Philippine market is reduced from 2016.

For our factory area leasing business, the demand of the high quality warehouse has continued to grow. In the fourth quarter of 2017, the construction of an additional factory area has been completed. Therefore, Baconco’s factory area for leasing increase to 66,420 square meters and they are fully occupied.

Business Trend and Direction in 2018

According to the Food and Agriculture Organization of the United Nations (FAO), the global fertilizer demand is forecasted to expand to 194.4 million metric tons. While International Fertilizer Association (IFA) anticipates that in the next five years the global fertilizer industry will face a period of moderate growth and South Asia, East Asia and Latin America will account for almost three quarters of increased fertilizer demand. Also, in relative terms, Africa, Eastern Europe and Central Asia are seen as the fastest growing markets.

Considering these trends, PMTA strongly believes in the potential of growth in the agrochemical business through business operation under main strategies including: expanding distribution channels, offering new products and technology, finding more business partners and penetrating into new markets and expanding exportation.

Social Responsibility is Our Goal

While PMTA operates the business with commitment to growth, the Company has never neglected to fulfill social responsibility. Baconco’s management retained their effort on energy saving and regulatory compliance. Moreover, Baconco is able to maintain its high operation efficiency in environmental production management to meet and exceed the requirement of the Vietnamese authority. PMTA has always remembered to return to the society. In 2017, Baconco which is our core subsidiary, together with the local official has supported to build 10 houses for the poor families in Tay Ninh province in Vietnam. We believe this is not only the opportunity for us to give back to the society by giving the opportunity for the disadvantaged but it also boosts morale of the employees and implant a sense of sharing within the employees which is the key to human resource development.

PMTA determines to further develop and improve the quality of our products and services in order to retain customers trust towards the Company. We believe that the experiences and determination of our managements and employees will lead the Company towards the sustainable growth. On behalf of the Board of Directors, managements and employees, we would like to thank you all shareholders and investors for your continued supports.


Mr. Chalermchai Mahagitsiri
Chairman of the Board of Directors

Mr. Sigmund Stromme
Managing Director