Samart Group Expands Into Green Tech and Carbon Credits
Samart Group is moving into the green technology and carbon credit markets, intending to finalize relevant business deals by early 2025. Teda, a subsidiary, will lead these new ventures, aiming to boost Samart's presence in the energy and environment sector as its fourth major business category. The company targets twelve billion baht in revenue for 2024, seeking strategic partnerships and funding diversification to enhance growth.
Samart Group plans to enter the green technology and carbon credit sectors to capitalize on these emerging global trends.
Teda, a Samart subsidiary, will spearhead the development of these new businesses.
They are currently engaging with potential business partners for joint ventures or mergers and acquisitions, aiming to finalize agreements by early 2025.
Samart Group intends to establish a fourth major business unit—the energy and environment sector—next year, as reported by Watchai Vilailuck, the executive vice-chairman.
Founded in 1975, Teda initially focused on mechanical and electrical system installations and later expanded into high voltage transmission systems.
With a revenue of one billion baht and a net profit of seventy million baht in the previous year, Teda has a backlog of orders worth two and a half billion baht.
The company plans to go public on the Stock Exchange of Thailand by late next year.
To sustain growth, Samart is diversifying its funding sources, seeking strategic partnerships, and expanding its customer base locally and globally.
The company's revenue from the first half of 2024 was 4.16 billion baht, a 7.4% year-on-year decline, mainly due to delayed government budget spending.
The utilities and transportation sector contributed 56.2% of this revenue.
The group's revenue target for 2024 is set at twelve billion baht, with a backlog anticipated to increase to twenty billion baht by year-end.
Teda, a Samart subsidiary, will spearhead the development of these new businesses.
They are currently engaging with potential business partners for joint ventures or mergers and acquisitions, aiming to finalize agreements by early 2025.
Samart Group intends to establish a fourth major business unit—the energy and environment sector—next year, as reported by Watchai Vilailuck, the executive vice-chairman.
Founded in 1975, Teda initially focused on mechanical and electrical system installations and later expanded into high voltage transmission systems.
With a revenue of one billion baht and a net profit of seventy million baht in the previous year, Teda has a backlog of orders worth two and a half billion baht.
The company plans to go public on the Stock Exchange of Thailand by late next year.
To sustain growth, Samart is diversifying its funding sources, seeking strategic partnerships, and expanding its customer base locally and globally.
The company's revenue from the first half of 2024 was 4.16 billion baht, a 7.4% year-on-year decline, mainly due to delayed government budget spending.
The utilities and transportation sector contributed 56.2% of this revenue.
The group's revenue target for 2024 is set at twelve billion baht, with a backlog anticipated to increase to twenty billion baht by year-end.
