Latest news with #ChalermchaiMahagitsiri
Bangkok Post
2 days ago
- Business
- Bangkok Post
TTA Posts Baht 942m Profit in First Half of 2025
Bangkok, August 15, 2025 – Thoresen Thai Agencies (TTA) posted first-half revenues of 14.52 billion baht and net profit of 942.4 million baht, driven by strong Shipping and Other Investments performance. Shipping, Offshore Service, Agrochemical, Food & Beverage, and Other Investments contributed 23%, 53%, 14%, 7%, and 3% of revenue, respectively. Shipping achieved a TCE rate 31% above the market, while Offshore Service maintained a US$688.1 million order book. Other income surged 833% YoY to 1.56 billion baht on digital asset sales. TTA closed the half with 5.7 billion baht in cash, net operating cash flow of 1.61 billion baht, and a debt-to-equity ratio of 0.37. Mr Chalermchai Mahagitsiri, president and CEO, said: 'As we look back on the second quarter of 2025, the Baltic Supramax Index averaged 962 points, up from 819 in 1Q/25, as the seasonal slowdown eased. The Time Charter rate peaked at US$10,762 per day, with a quarterly average of US$10,126. For 2025, Clarksons Research sees dry bulk trade volumes down 0.9% in tonnes but up 0.2% in ton-miles, with bulker supply growing 3.1% amid a limited order book and continued Red Sea rerouting.' He added: 'In June, we optimised fleet efficiency by selling a 24.2-year-old Supramax, reducing the fleet to 24 vessels. We are also proud to be ranked second globally in the 2024 performance survey for listed dry bulk companies by Lienguard & Roschmenn, Maritime Advisors.' Key Strategic Business Segment Performance Shipping Segment: Thoresen Shipping posted freight revenues of 1.67 billion baht in 2Q/25, down 7% year-on-year but up 1% quarter-on-quarter, as Supramax rates softened. The firm's TCE averaged US$12,291 per day, 28% above the market rate, with full fleet utilisation and a peak TCE of US$21,197. Operating costs stood at US$4,600 per day, 13% below the industry average, boosting efficiency. Net profit surged 95% QoQ to 337.9 million baht. The fleet stood at 24 vessels with an average size of 56,068 DWT and age of 16.7 years. Offshore Service Segment: Mermaid Maritime posted revenues of 3.72 billion baht in 2Q/25, down 7% QoQ on lower cable-laying, decommissioning, and T&I activity. Subsea-IRM revenues fell 17% YoY due to vessel maintenance and a brief halt from the Iran conflict, but rose 10% QoQ on expanded non-vessel work. The performing subsea-IRM vessel's utilisation climbed to 87% from 78% a year earlier. Mermaid reported EBITDA of 64.1 million baht and held an order book worth US$688.1 million at quarter-end. Agrochemical Segment: PM Thoresen Asia Holdings (PMTA) booked revenues of 1.07 billion baht in 2Q/25, up 16% QoQ on stronger fertiliser sales. Sales rose 15% in value and 12% in volume to 52,300 tonnes, driven by Vietnam's domestic demand during the planting season and stockpiling ahead of July's VAT hike. Domestic sales surged 45% QoQ to 49,100 tonnes, while exports fell to 3,200 tonnes. Single fertiliser sales jumped 50% QoQ, and NPK fertiliser sales gained 8% QoQ. Service income grew 8% to 31 million baht. Net profit soared 153% QoQ to 41.5 million baht. Food & Beverage: Pizza Hut is operated as a 70%-owned subsidiary of TTA. As of 30 June 2025, there were 200 outlets nationwide. Taco Bell, the leading American restaurant chain serving a variety of Mexican-inspired food, is operated as a 70%-owned subsidiary of TTA. As of 30 June 2025, there were 33 outlets nationwide.
Yahoo
25-02-2025
- Business
- Yahoo
Mermaid Maritime Public Company Limited's (SGX:DU4) largest shareholders are public companies with 58% ownership, individual investors own 21%
Mermaid Maritime's significant public companies ownership suggests that the key decisions are influenced by shareholders from the larger public The largest shareholder of the company is Thoresen Thai Agencies Public Company Limited with a 58% stake Insider ownership in Mermaid Maritime is 20% Every investor in Mermaid Maritime Public Company Limited (SGX:DU4) should be aware of the most powerful shareholder groups. The group holding the most number of shares in the company, around 58% to be precise, is public companies. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). And individual investors on the other hand have a 21% ownership in the company. In the chart below, we zoom in on the different ownership groups of Mermaid Maritime. See our latest analysis for Mermaid Maritime We don't tend to see institutional investors holding stock of companies that are very risky, thinly traded, or very small. Though we do sometimes see large companies without institutions on the register, it's not particularly common. There are many reasons why a company might not have any institutions on the share registry. It may be hard for institutions to buy large amounts of shares, if liquidity (the amount of shares traded each day) is low. If the company has not needed to raise capital, institutions might lack the opportunity to build a position. It is also possible that fund managers don't own the stock because they aren't convinced it will perform well. Mermaid Maritime's earnings and revenue track record (below) may not be compelling to institutional investors -- or they simply might not have looked at the business closely. Hedge funds don't have many shares in Mermaid Maritime. Thoresen Thai Agencies Public Company Limited is currently the largest shareholder, with 58% of shares outstanding. With such a huge stake in the ownership, we infer that they have significant control of the future of the company. With 15% and 3.9% of the shares outstanding respectively, Chalermchai Mahagitsiri and Prayudh Mahagitsiri are the second and third largest shareholders. Chalermchai Mahagitsiri, who is the second-largest shareholder, also happens to hold the title of Chief Executive Officer. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. It seems insiders own a significant proportion of Mermaid Maritime Public Company Limited. It has a market capitalization of just S$199m, and insiders have S$39m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. With a 21% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Mermaid Maritime. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Public companies currently own 58% of Mermaid Maritime stock. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 2 warning signs for Mermaid Maritime (1 is significant!) that you should be aware of before investing here. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
