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Corporate Profile

Overview and overall business operations

Power Line Engineering Public Co., Ltd was established on July 8th, 1988 by a group of engineers led by Mr. Swake Srisuchart and Mr. Amnuay Kanjanopas, to engage in the services of the design, engineering and installation of mechanical and electrical (M&E) system and civil construction for offices, hotels, complex and plaza buildings, hospitals and factories. To be in line with the company's expansion, the company was registered to be a public company on August 29th, 2002 and its shares were listed and floated in the Stock Exchange of Thailand on December 12th, 2002. During the past years, the company's businesses were increased substantially and PLE have invested in several businesses such as Real Estate, Bio-mass 10 MW power plant and joint ventures with foreign companies to engage in construction business in overseas through its subsidiaries and joint venture. Details are as follows:

In the 2015 and the next 2 consecutive years, the company has planned to concentrate on bidding for more the government’s projects, which Thai government will provide substantially budget for a number of infrastructure projects i.e. double track trains of the State Railways of Thailand, several routes of MRTA owned by Mass Rapid Transit Authority of Thailand, the expansion of Suwannaphom Airport Phase II. Apart from the government’s projects, the company continues to acquire business from the company’s loyal customers i.e. Central Group, Tesco, Noble Group, Prinsiri group, Chulalongkorn University and Rangsit University together with other factories and power plants.


The details of the company and its affiliated companies’ operation are as follows:

Power Line Engineering Public Co., Ltd. (PLE)

The Company offers the services of design, procurement and installation of complete systems for government and private sectors through being main contractor or sub-contractor. The works are generated from direct bidding, business negotiation and in the form of joint venture company. The main 5 systems in the services

  1. General Civil Construction
  2. Electrical System
  3. Air Conditioning System
  4. Sanitary & Plumbing and Fire Protection System
  5. Telecommunication System

PLE International Co.,Ltd (PLEI) ( formerly UNIMA)

Established on July 16, 1987, PLE International Co., Ltd. (PLEI) rendered the services in General Civil Construction for Office buildings, Hospitals, Shopping Complexes, Institutions, Hotels, Industrial Plants and Government facilities. Our government customers include Provincial Water Works, Ministry of Health, and Ministry of Interior etc.

Power Line Engineering Public Company Limited owned 99.99 of PLEI’s shareholding capital in order to engage in civil construction business. In June 2005, PLEI’s registered paid up capital increased from Baht 60 million to Baht 300 million. During the last 3 years, PLEI had not operated its business in a significant basis. It is waiting to collect the debts from outstanding debtors which are under the collection process. Unima has changed its name to PLEI in 2012 and PLE has a plan to use PLEI for oversea business. Furthermore, the company currently has plans to join with potential foreign contractors to participate in bidding of future governmental projects.

Power Prospect Co., Ltd. (PPC)

Established on November 23, 2004 to engage in bio-mass power plant project, Power Prospect Co., Ltd. is a joint venture of Biomass Co-gen Power Plant Project between PLE 55% and Prospack Co., Ltd. 40%, which is a plastics and super ware producer. Prospack also own the Nakornluang Rice Mill branch 1, which located on Ta Ruea district, Ayutthaya province. The 5% Shareholding owned by Mr. Pongsak Liangsiri who is an expert in engineering and experience in biomass power plant development. This power plant’s capacity is 9.9 megawatt and use husk as a fuel. On January 10,2007, the company increased its capital to Baht 40 million. The budget for this project is re-estimated from Baht 620 million to Baht 675 million, which will be financed by sequent increase in capital of Baht 200 million and bank’s loan of Baht 475 million in line with the progress of construction. In the 2008, PLE increased its investment in PPC from Baht 44 million to Baht 88 million and in 2009 additionally invested Baht 30.12 million to Baht 118.12 million holding 57.9% of PPC’s total capital of Baht 200 million. Its operation was commenced in November 2009 and sold the electricity to PEA in January 2010. In April 2012, PPC increased its capital from Baht 200 million to Baht 320 million, up Baht 120 million. Therefore, PLE is currently hold 57.9 % of PPC total shareholdings in the amount of Baht 185.28 million. In 2013 PPC’s revenue from selling electricity increased to Baht 183.3 million but the loss remained recorded at Baht 20.7 million due to the increase of cost of raw material i.e. rice husk during the year. In the 2015, PPC has solved their lack of raw materials by using other barks and coconut shell replacing the rice husk in order to minimize the raw material cost, but this has not succeeded. In October 2015, the company entered into the share purchase agreement with M P Energy Co., Ltd to sell all PPC shares, which the company owned. On February 4th, 2016 the company have already sold all PPC shares to M P Energy Co.,Ltd.

Techner Co., Ltd (TN)

Techner Co.,Ltd (TN) was established on March 9th ,1990 with registered paid up capital of Baht 10 million engaging in construction service business. TN is located on 140 Pacific Place One Building, unit 1001, Sukhumvit road, Klong Toey, Bangkok 10110. On 4 June 2005, Power Line Engineering Public Company Limited (PLE)’s Board of Directors approved to invest in TN by holding 50% of TN shares being Baht 5.0 million in order to proceed the government’s low cost housing project approximately valued of Baht 2 billion during the period of 3 years. This low cost housing project will generate the income to PLE based on shareholding basis starting from 2007 to 2008. In August 2007, the company increased its capital to Baht 60 million with paid up capital of Bath 22.5 million of which Baht 11.25 million held/paid by PLE. PLE repaid the Baht 18.75 million shares of TN on August 20th, 2009, therefore, Baht 30 million TN shares owned by PLE was totally and fully repaid. TN entered into the contracts with National Housing Authority (NHA) to construct the 3 low cost housing projects including Lardlum Kaew 974 units, Ayudhraya 4,300 units and Aoung Thong 1,550 units. Currently Lardlum Kaew have been completed and handed over to NHA. The other 2 projects have only 13% progress and in April 2008, NHA had terminated the both projects and also claimed as the 2 bank guarantees totaling value of Baht 280 million from Siam Commercial Bank Plc and the bank quarantee of Baht 79 million from Thai Bank Plc which based an the reason that the works under the contracts had no progress and delayed. TN took the dispute issued to Civil Court and currently the sued case is under mediation. The next mediation will be on April 3rd, 2009, which had not found the resolution, therefore, the court set the hearing on July 20 to 23, 2010. In May 2012 the Civil court transferred the cases to Administration court and on August 7th, 2014, the Administration court sent the letter to the company informing that the cases are under the court consideration.

PLE as TN major shareholder had determined TN”s Managing Director and executive directors to submit the plans for resolving TN’s problems and following TN’s the large debt i.e. Apex Concrete tech Co.,Ltd. for repayment of its debt a.s.a.p. However, during 2008, the managing direct and executive direct did not proceeded as PLE’s request and there has been no progress is solving TN problems. TN had also not submitted the 2008 financial statements for PLE preparing consolidated financials. As a result PLE’s auditor opinioned “qualified” on PLE’s consolidated financials, which discredited PLE. Therefore, PLE has sued TN and its managing director and executive directors on February 26th, 2009 and April 8th,2009 PLE took the criminal case against TN’s managing director and a excecutive, which currently is under court process. Presently, there are 13 cases being sued under civil and criminal cases against TN’s managing director. The cases are under the first court , appeal court and the supreme court. The first criminal court’s verdict had jail sentence for TN managing director, which currently the case is under the Appeal court. Apart from the mentioned case, The Civil court had sentence TN to pay the debts to PLE, which is under the process of confiscation.

Bumrung Muang Plaza Co.,Ltd (BMP)

BMP was established on June 5th, 2003 with Baht 500 million registered capital (paid up only Baht 125 million) and addresses on 611 Bumrung Muang Road, Pumparb, Pumparbsatupai, Bangkok in order to engage in Boa Bae Plaza project, which are 16 floors of building comprising of 6 floors of plaza rental area and 3 floors of rental residential area. The project is on 30 years leasehold from Red Cross Association. Due to BMP and its former shareholders are not be able to repay its debts from construction to PLE . Therefore they entered in to the agreement with PLE and transferred 85% BMP shares to PLE in order that PLE will complete the construction of project. They also agreed that PLE will have full control and solely manage the BMP until all BMP debts owed to PLE to be settled. On May 3rd, 2006 85% of BMP was registered under the name of PLE. The construction of building has been completed since December 2006 and presently BMP have all permission licenses to operate the building. The delay in selling the space of the project was due to the former shareholders trying to halt the selling by advising PLE that they have found investors to invest in the project several times and these investors will repay all debts with PLE, but never happened. On Novembers 10th , 2008 BMP increased its capital by Baht 500 million to Baht 1.0 billion (paid up capital Baht 625 million) and PLE currently hold 99.99%. During the last year, BMP had launched its sales of the areas several times but it was not successful due mainly to non-cooperation from the existing customers , whom owned the main areas of the project and the marketing conditions. Currently, BMP is on the process of negotiation with these customers to finalize the mutual solution for all parties concerned and plan to launch the selling again in May 2011. During the beginning of 2011, the company was additionally supported by PLE to repurchase the space areas from the existing customers, change the project’s image and develop a new plan for the space selling by changing the project’s name into SOHO. The space selling will begin in March 2012. SOHO have been renovated and planned to have soft-opening in March 2013 and the Grand Opening in October 2013. BMP’s performance was not successful in the 2013, the revenue is recorded at Baht 78.9 million with the loss of Baht 110.9 million due to the depreciation and amortized leasehold right. BMP’s loan of Baht 361 million with Standard Chartered (Thailand) Asset Management has been repaid fully on March 28th, 2014 and as a result of this transaction BMP gained Baht 138.9 million in the first quarter of 2014. Hence, in the 2014 BMP recorded of income from rental of Baht 86.46 million and net profit of Baht 1.47 million as a gain on its debt compromise. BMP have booked the revenue of Baht 87.9 million and net loss of Baht 231 million due mainly to the large number of depreciation of assets and redemption of land & building lease contract.

S A P S 2007 Holding Co., Ltd. (SAPS)

SAPS was established on December 7th, 2007 with the registered paid up capital of Baht 80 million to be PLE’s holding company for investing other businesses, which can generate consistent income to PLE. PLE’s Board of Directors had approved to invest in SAPS with initial investment of Baht 80 million on June 14th, 2007. In 2008 PLE’s board of directors had approved to increase SAPS’s capital by Baht 60 million from Baht 80 million to Baht 140 million is order to invest in SDC. Therefore SAPS’s paid up capital in Baht 140 million being 99.99% owned by PLE and its capital is fully invested in SDC (PLE’s board of directors has approved to further invest in SAPS by Baht 20 million from Baht 140 million to Baht 160 million on February 27th, 2009. The increased capital will be used for buying SDC’s shares from Mr.Thanachart Pungpee. As a result, SAPS will hold 99.9% of SDC’s shares. In 2014 SAPS received the dividend from SDC of Baht 96 milllion and generated the net profit of Baht 95.92 million of which Baht 90 million had been repaid to PLE as dividend.

Sitharom Development Co., Ltd. (SDC)

SDC was established on June 1st , 2007 with its registered paid up capital of Baht 160 million, which 99.99% of its shares held by SAPS. SDC engage in property development particularly housing project in Udon Thane Province in the prices ranging from Baht 2 million to Baht 3.5 million. SDC’s project is divided into 3 phases 342 units valuing Baht 1,054.10 million. Until the end of 2014, the total sale volume is Baht 1,031.23 million (337 Units). The remaining of 5 Units valuing Baht 22.87 million are expected to sell out in June 2015. In 2014, SDC recorded the revenue of Baht 155.88 million with the net profit of Baht 23.32 million. SDC paid dividend Baht 96 million to SAPS. In 2015,SDC started the housing project phase II in the total value of Baht 181 million consisting of single and double detach houses of 42 units. SDC recorded the revenue of Baht 40.3 million and net profit of 2.7 million in the 2015.

2 Joint Ventures

  1. PLE entered into joint venture namely “EMC- POWER LINE Joint Venture” with EMC Public Company Limited with investment ratio of 51:49 on September 22nd, 2009 to acquire the construction project of Chengmai International Convention Center in the value of Baht 1,867 million owned by the Ministry of sports and tourism. The construction is on the process. and the entire construction work will be handed over in March 2012. Presently, the JV is on the closing account process.
  2. PLE entered into joint venture namely “PAR Joint Venture” with Ascon Construction Public Company Limited and Roam Nakorn Construction (Thailand) with investment ratio of 35:30:35 in order to acquire the construction project of MRT Purple Line Contract 3 valuing Baht 5,025 million. The construction is on the process. PLE increase its shares to 90% in the JV. The progress of the project construction is 65% and plan to complete in July 2014. In 2014 JV-PAR’s total revenue of Baht 1,799.8 million and net profit of 4.3 million were recorded respectively. At the end of 2015 PAR has already hand over the completed project to MRTA, currently PAR work on the shortlist of defect works and expects to totally collect the final payment of Baht 318.4 million in April 2016. The revenue of claiming variation orders and escalation factors from MRTA were below the expectation and resulted to the substantial loss of Baht 1,120 million from PAR’s operation, which resulted consequently to the company‘s loss at the end of 2015.

The company’s development relating to business operation and control for the operations in 2014 are as follows:

April : The company increased its paid up capital from Baht 1,072,626,551 to Baht 1,078,462,566 as a result of PLE-WA (ESOP) of 5,836,015 units were exercised by the company's staffs and executives to be share in the amount of 5,836,015 shares in the price of Baht 1/ share.
: The company held the 2014 AGM at Hilton Hotel Sukhumvit and the AGM approved the dividend of Baht 0.096 per share.
July : The company increased its paid up capital from Baht 1,078,462,566 to Baht 1,084,524,920 as a result of PLE-WA (ESOP) of 6,062,354 units were exercised by the company's staffs and executives to be share in the amount of 6,062,354 shares in the price of Baht 1/ share.
August : The company held EGM 1/2014 at Jasmine City Hotel
  • Report the progress of selection new certified auditor
  • EGM approved the authorization of appointing new certified auditors with their auditing fee not to exceed Baht 10 million to the Board of Directors for the financial year of 2014.
October : The company increased its paid up capital from Baht 1,084,524,920 to 1,084,623,550 as a result of PLE-WA (ESOP) of 98,630 units were exercised by the company's staffs and executives to be share in the amount of 98,630 shares in the price of Baht 1/ share.

The company’s development relating to business operation and control for the operations in the 2015 are as follows:

January : Increased its paid up capital from Baht 1,084,623,550 to Baht 1,084,955,380 due to the exercise of PLE-WA (ESOP) of staffs and executives in the amount of 331,830 units to ordinary shares of 331,830 shares at the par value of Baht1.00.-
April : The company had an annual general shareholders’ meeting of 2015 (AGM2015) at Grand Center Point Hotel, Sukhumvit 21 and the meeting approved the dividend of Baht 0.046 (forty six Stang) per share.
  : The AGM 2015 approved the issuance of all types of debentures (secured and non-secured) in the amount of not exceeding Baht 1,500,000,000.-(existing plus new debentures) to be the company’s working capital and business expansion.
  : Increased its paid up capital from Baht 1,084,955,380 to Baht 1,088,459,792 due to the exercise of PLE-WA (ESOP) of staffs and Executives of 3,504,412 units to be the ordinary of 3,504,412 shares with the par value of Baht 1.0.
July : Increased its paid up capital from Baht 1,088,459,792 to Baht 1,088,867,202 due to the exercise of PLE-WA (ESOP) of staffs and Executives of 407,410 units to be the ordinary of 407,410 shares with the par value of Baht 1.0.
October : Increased its paid up capital from Baht 1,088,867,202 to Baht 1,089,072,732 due to the exercise of PLE-WA (ESOP) of staffs and Executives of 205,530 units to be the ordinary of 205,530 shares with the par value of Baht 1.0.
  : Increased its paid up capital from Baht 1,089,072,732 to Baht 1,089,080,282 due to the exercise of PLE-W2 from existing shareholders of 7,550 units to be the ordinary of 7,550 shares with the par value of Baht 1.0.

“The investors may have further the company’s information in the form 56-1 annual report in the website : www.sec.or.th or the company website : www.ple.co.th