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Bangkok, Thailand - 29th May 2008 - AsiaSoft Corporation Public Company Limited (SET: AS) has advanced a new chapter in the history of the gaming industry, becoming the first online gaming company to list in Thailand’s stock market. With a total income growth of 47.4% in year 2007 as compared to year 2006, AsiaSoft is confident that her online gaming business, which covers up to 4 countries; namely Thailand, Singapore, Malaysia and Vietnam, will continue to grow significantly on a long term basis.
"Asiasoft, the leading online gaming company in South-East Asia, derives more than 70% of its income from its online gaming business. Our success lies in the variety of online games that meets consumer demand, resulting in the growth of our consumer base in Thailand and overseas markets," said Mr. Pramoth Sudjitporn, Chief Executive Officer of Asiasoft Corporation.
Last year, the company reported a total income of 1559 million baht, an enormous increase of 47.7% as compared to 2006. The company also reported a net profit of 254 million baht in 2007, a rise of 101.7% (128 million baht) compared to the previous year. Of particular note is its success abroad with a total income of 629 million baht, an increase of 76.8% (273 million baht) from the previous year.
"Despite the current unfavorable market condition caused by political issues, we stay confident that our shares will maintain their value above the IPO price of 12 baht per share. Given our strong foundation built over the years, our depth of business potential and strategically distributed shares, it will not be unexpected for our share price to rise above the initial offering," noted Mr. Pramoth Sudjitporn. |
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"As for current common stock distribution, Asiasoft will offer 75 million shares at 12 baht per share, valued at 900 million baht in total. We are pleased to receive the tremendous interest of investors, with more than three times oversubscription that is above our expectations. This is attributable to the fact that the online gaming business is a high growth industry, and Asiasoft is a Thai company that has expanded its business overseas, establishing strong footholds abroad," added Mr. Pramoth Sudjitporn.
According to him, the financial results of 2007 clearly reflect the growth potential in both the company’s income and net profit, based on strong business foundations in both its domestic and overseas markets. In the recent month, Lombard Asia III, an international fund managed by Lombard Investment, Inc., indicated interest in 15 million IPO shares, at a par value of 1 baht per share. Lombard Asia III will continue to buy another 15 million shares at the IPO price from current shareholders, totaling 30 million shares, to hold about 10% of Asiasoft’s paid-up capital after stocks are traded on the Thai bourse. With Lombard Asia III as a strategic shareholding partner, Asiasoft’s position in the industry will be strengthened to continue its overseas expansion plan.
In conclusion, Asiasoft Corporation Public Company Limited (SET: AS) has a total of 316 million baht registered capital, divided into 316 million common stock at 1 baht per share, with paid-up capital of 225 million baht, and another 75 million shares IPO which is 25 % of the paid-up capital. The funds attained from this distribution will be used for the expansion of the company’s online gaming businesses in Vietnam and Malaysia, investment in software upgrades for higher service efficiency, procurement of more game copyrights and increment of the working capital of the company.
About Asiasoft Corporation Public Company Limited
Established in 2001, Asiasoft Corporation Public Company Limited, a leading online entertainment provider in Southeast Asia, focuses on the provision of online gaming services to Thailand, Singapore, Malaysia and Vietnam. The company also has affiliates involved in international investments, computer and online game development and game portal services (www.playpark.com).
As of 31 December 2007, Asiasoft offers twenty three online games in four countries, namely Thailand (seven games), Singapore (five games), Malaysia (five games) and Vietnam (six games), and boasts more than 8.2 million registered gamers in these countries. Its most famous games are Cabal, Ragnarok, Audition Dance Online, Maple Story and Yulgang.
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About AsiaSoft Corporation Public Company Limited
Established in 2001, AsiaSoft Corporation Public Company Limited, a leading online entertainment provider in Southeast Asia, focuses on the provision of online gaming services to Thailand, Singapore, Malaysia and Vietnam. The company also has affiliates involved in international investment, computer and online game development and game portal services.
Currently, AsiaSoft offers twelve online games in four countries, namely Thailand (seven games), Singapore (five games), Malaysia (five games) and Vietnam (six games) and boasts more than 8.2 million registered gamers in these countries. Its most famous games are CABAL, Ragnarok, Audition Dance Online, MapleStory and Yulgang.
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