Company Summary
TSTE THAI SUGAR TERMINAL PUBLIC COMPANY LIMITED
Services/Transportation & Logistics
SET
CG Report:   
 
  Data as of 14 Jun 2019  
Price (B.) 52 Week High/Low P/E (X) P/BV (X) Paid-up (MB.) Market Cap (MB.) EV (MB.) EBITDA (MB.) EV/EBITDA
7.05 8.00 / 5.55 20.38 0.86 191.66 2,702.46 4,975.95 86.23 12.89
News
Date/Time Subject
31 May 2019 12:56   The transactions on assets acquisition and disposition of the 2 subsidiaries (Edit)
30 May 2019 13:30   The connected transaction regarding the sale of assets between 2 subsidiaries
30 May 2019 13:29   Resignation of Independent Director and the Chairman of Audit Committee
21 May 2019 12:35   Financial Statement Quarter 2/2019 (Reviewed) (Edit Statement of Cash flow)
21 May 2019 12:33   Request to amend the financial statements for the Q1/2019 ended March 31, 2019 (Statements of cash flow)
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Company Profile
Address 90 MOO 1,SOI SIAMSILO,POOCHAOSAMINGPRAI ROAD, PHRA PRADAENG Samut Prakarn 10130
Telephone 0-2183-4567
Fax 0-2183-4561, 0-2183-4562
URL www.tstegroup.com
  Annual Report 2018
Establish Date 27/9/1976 Listed Date 13/07/1990
IPO Price (Baht) 130.00 @Par10.00 Baht
IPO Financial Advisory N/A
Par 0.50 Baht
Last Par Change Old 1.00 : New 0.50 @ 08/10/2015

Market/Industry/Sector Change
Effective Date 04/01/2005
Previous Market/Industry/Sector SET  / Services / Warehouse and Silo
Current Market/Industry/Sector SET  / Services / Transportation & Logistics

Business
The Company operates businesses relating to transfer and transportation services for sugar and certain agriculture products, warehouse rental, land trading operation, land lots appropriation and construction of buildings on land for sale, rental, hire-purchase for residential, office and commercial units.

Free Float 20 Mar 2019 08 Mar 2018
% /Shareholders
26.14% 471 26.47% 482
Foreign Shareholders 0.02% (As of 14/06/2019) Foreign Limit 35.00%
NVDR Shareholders  0.01% (As of 14/06/2019)
5 Yr Price Performance (Adjusted Price)
Price Performance (Adjusted Price) Compare to Stock (%) Compare to Sector (%) Compare to Market (%)
5 Days - -1.06 -1.13
20 Days 0.71 1.73 -1.60
60 Days - 0.63 -2.18
120 Days 0.71 -6.60 -3.07
YTD 0.71 -5.36 -5.82
P/E (X) 20.38 75.18 18.01
P/BV (X) 0.86 3.32 1.82
Turnover Ratio (%) N/A 0.32 0.66

Top 10 Major Shareholders(@20 Mar 2019) Share %
1. บริษัท น้ำตาลขอนแก่น จำกัด (มหาชน) 91,301,062 23.82
2. นาย ชนะชัย ชุติมาวรพันธ์ 63,818,515 16.65
3. บริษัท ประจวบอุตสาหกรรม จำกัด 38,003,736 9.91
4. นาง เยาวนุช เดชวิทักษ์ 31,299,893 8.17
5. น.ส. เยาวลักษณ์ ชุติมาวรพันธ์ 27,206,675 7.10
6. นาย ประภาส ชุติมาวรพันธ์ 19,074,666 4.98
7. บริษัท น้ำตาลราชบุรี จำกัด 18,169,747 4.74
8. บริษัท อุตสาหกรรมมิตรเกษตร จำกัด 16,027,170 4.18
9. นาง บุญพร้อม ชินพิลาศ 5,402,978 1.41
10. น.ส. กุลกมล ว่องวัฒนะสิน 3,960,000 1.03

Management Position
1. Mr. PRICHA ATTAVIPACH CHAIRMAN / INDEPENDENT DIRECTOR
2. Mr. PRAPAS CHUTIMAWORAPAND CHAIRMAN OF THE EXECUTIVE COMMITTEE / DIRECTOR
3. Mr. PHALLOP HAEMATAKSIN MANAGING DIRECTOR (ACTING) / DIRECTOR
4. Mr. CHANACHAI CHUTIMAVORAPHAND DIRECTOR
5. Mr. PONG CHINTHAMMIT DIRECTOR
6. Mr. NARONG CHENLAPWATANAKUL DIRECTOR
7. Mr. CHALUSH CHINTHAMMIT DIRECTOR
8. Mr. WIN CHINTHAMMIT DIRECTOR
9. Mr. SOMCHAI CHINTHAMMIT DIRECTOR
10. Mr. DHANADON SUJIPHINYO DIRECTOR
11. Mrs. YAOVANUTH DEJVITAK DIRECTOR
12. Miss JUTATIP ARUNANONDCHAI INDEPENDENT DIRECTOR
13. Mr. SUWAT SUMMASHIPVITSAVAKUL INDEPENDENT DIRECTOR / AUDIT COMMITTEE
14. Mrs. PUANGTHIP SILPASART INDEPENDENT DIRECTOR / AUDIT COMMITTEE
Accumulated: Turnover Ratio, Value Trade/Day
Statistics YTD
14 Jun 2019
2018
28 Dec 2018
2017
29 Dec 2017
Listed share (M.) 383.33  383.33  383.33 
Market Cap (MB.) 2,702.46  2,683.29  2,798.29 
Price (B./share) 7.05  7.00  7.30 
BVPS (B./Share) 8.22  7.62  6.93 
P/BV (X) 0.86  0.92  1.05 
P/E (X) 20.38  15.00  23.10 
Turnover Ratio (%) 0.02  0.31  0.22 
Value Trade/Day (MB.) 0.01  0.04  0.03 
Beta 0.26  0.24  -0.08 
 
Rate of Return YTD  2018  2017 
Price Change (%) 0.71  -4.11  -2.67 
Dividend Yield (%) 1.70  1.00  0.82 
Payout Ratio 0.35  0.28  0.19 
Dividend Policy At least 50 percent of the net profit after corporate tax and legal reserve (with additional conditions)

Dividend
Operation Period Dividend/Share Unit Payment Date Type
- 0.06 Baht 24 May 2019 Cash
- 0.06 Baht 23 Nov 2018 Cash
01 Jan 2017 - 31 Dec 2017 0.07 Baht 25 May 2018 Cash
01 Jan 2016 - 31 Dec 2016 0.06 Baht 26 May 2017 Cash
 
Auditor
(Effective Until 31/12/2019)
MR. AMPOL CHAMNONGWAT/SAMNAK-NGAN A.M.C. CO., LTD.
MISS PRAPHASRI LEELASUPHA/SAMNAK-NGAN A.M.C. CO., LTD.
MR. NARIS SAOWALAGSAKUL/SAMNAK-NGAN A.M.C. CO., LTD.
F/S Year ended 31/12
Latest Type of Report Unqualified opinion
Financial Data
Statement of Financial Position (MB.) 3M/2019 
(01/01/19 
-31/03/19) 
3M/2018 
(01/01/18 
-31/03/18) 
2018 
(01/01/18 
-31/12/18) 
2017 
(01/01/17 
-31/12/17) 
2016 
(01/01/16 
-31/12/16) 
Cash 95.19 143.86 114.91 131.87 146.58
A/R Net 295.32 273.67 261.95 217.71 218.02
Inventories 989.71 791.95 956.52 913.05 677.47
Current Assets 1,407.48 1,225.06 1,356.56 1,278.16 1,059.51
PP&E Net 4,075.58 3,142.84 4,072.56 3,237.73 3,382.88
Total Assets 5,519.93 4,871.22 5,460.23 5,014.05 4,951.71
OD 820.25 694.96 819.27 631.65 448.79
A/P Net 306.96 180.39 230.62 335.82 387.22
Current portion of LT 106.72 178.06 122.23 166.15 135.63
Current Liabilities 1,275.80 1,089.60 1,207.10 1,167.03 998.66
Non-Current Liabilities 629.03 687.50 671.35 769.44 929.75
Total Liabilities 1,904.83 1,777.10 1,878.45 1,936.47 1,928.41
Authorized Capital 191.66 191.66 191.66 191.66 191.66
Paid-Up Capital 191.66 191.66 191.66 191.66 191.66
Premium (Discount) on Share Capital 17.42 17.42 17.42 17.42 17.42
Other Surplus (Deficit) - - - - -
Retained Earnings (Deficit) 1,313.29 1,232.45 1,290.22 1,176.13 1,082.51
Treasury Stock - - - - -
Shareholders' Equity 3,151.24 2,674.31 3,128.17 2,671.03 2,622.80
Minority Interest 463.86 419.81 453.61 406.55 400.50
more
Statement of Comprehensive Income (MB.) 3M/2019 
(01/01/19 
-31/03/19) 
3M/2018 
(01/01/18 
-31/03/18) 
2018 
(01/01/18 
-31/12/18) 
2017 
(01/01/17 
-31/12/17) 
2016 
(01/01/16 
-31/12/16) 
Sales 624.50 479.02 1,561.78 1,763.26 1,727.62
Other Income 3.93 3.78 489.20 24.02 27.82
Total Revenues 628.42 482.81 2,050.98 1,787.27 1,755.45
COGs 519.21 340.46 1,520.83 1,301.28 1,387.80
SG&A 56.55 52.44 240.45 258.97 184.14
Total Expenses 575.75 392.91 1,761.28 1,560.25 1,577.94
EBITDA 86.23 122.09 421.75 358.22 293.83
Depre. & Amor. 33.56 32.19 132.05 131.19 116.32
EBIT 52.67 89.90 289.70 227.03 177.51
Net Profit 24.27 56.32 164.64 116.61 99.41
EPS (B.) 0.06 0.15 0.43 0.30 0.28
more
Statement of Cash Flow (MB.) 3M/2019 
(01/01/19 
-31/03/19) 
3M/2018 
(01/01/18 
-31/03/18) 
2018 
(01/01/18 
-31/12/18) 
2017 
(01/01/17 
-31/12/17) 
2016 
(01/01/16 
-31/12/16) 
Operating Cash Flow 92.68 22.61 149.70 73.35 659.42
Investing Cash Flow -33.92 -5.93 -75.80 -34.00 -249.06
Financing Cash Flow -78.47 -4.69 -90.87 -54.06 -444.61
Net Cash Flow -19.71 11.98 -16.97 -14.71 -34.25
more
Annualized: ROE, ROA
Ratios 3M/2019  3M/2018  2018  2017 
Current Ratio (X) 1.10 1.12 1.12 1.10
ROE (%) 4.55 4.83 5.68 4.41
ROA (%) 4.86 4.85 5.53 4.56
D/E (X) 0.60 0.66 0.60 0.72
Total Asset Turnover (X) 0.42 0.37 0.39 0.36
Gross Profit Margin (%) 16.86 28.93 2.62 26.20
EBIT Margin (%) 8.38 18.62 14.12 12.70
Net Profit Margin (%) 3.86 11.67 8.03 6.52

Information only PP, PO, XR and XD
Capital Movement (Last 3 Year)
Date CA Type Changed paid up share Paid up share Par
23 Sep 2016 XR 34,847,536 383,327,181 0.50
25 May 2016 XD 58,079,787 348,479,645 0.50

Growth Rate (%) 3M/2019  3M/2018  2018  2017 
Sales Growth 30.37 27.54 -11.43 2.06
COGs Growth 52.50 2.86 16.87 -6.23
Total Revenue Growth 30.16 3.78 14.75 1.81
Total Expense Growth 46.54 2.50 12.88 -1.12
Net Profit Growth -56.91 28.23 41.19 17.31

Annualized
Cash Cycle 3M/2019  3M/2018  2018  2017 
A/R Turnover (Times) 6.00 7.44 6.51 8.09
Avg. Collection Period (Days) 60.82 49.04 56.05 45.10
Inventory Turnover (Times) 1.91 1.95 1.63 1.64
Avg. Inventory Period (Days) 191.32 187.45 224.35 223.07
A/P Turnover (Times) 6.97 9.71 5.37 3.60
Avg. Payment Period (Days) 52.33 37.61 67.97 101.40
Cash Cycle (Days) 199.81 198.88 212.43 166.76


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Remark - Calculated from adjusted price
  - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not available.)
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