The share price of Sky ICT Public Company Limited (SET: SKY) rose sharply in the morning session on Monday as the market speculated on better results for its 2H23 performance amid rising foreign traverllers and the acquisition of security management business ‘SAMCO’.
Prices in the stock market surged THB2.00 or 5.80% to THB36.50 per share as of 11:35 BKK time on Monday.
Thailand recently granted Chinese and Kazakhs a temporary visa exemption in an attempt to boost its tourism industry, which is the main driver of the kingdom’s growth other than exports.
According to the government spokesman Chai Wacharonke, Thailand had welcomed more than 22,000 Chinese travellers on the first two days of the measure.
The report from the Chinese embassy to Thailand showed that about 650,000 mainlanders have booked trips to Thailand in October.
SKY would benefit from the acceleration of foreign arrivals as the company is the developer of the service of the Advance Passenger Processing System (APPS) and Passenger Name Record (PNR) project, which generated revenue from foreign arrivals.
As a result, in the second quarter year 2023, the Company have profit from the service of the Advance Passenger Processing System (APPS) and Passenger Name Record (PNR) Project amount of 166.28 million baht which is recognized revenue based on actual number of passengers (inbound, outbound, change flight and transit). The amount was nearly 100% of its total profit for the quarter.
Meanwhile, SKY recently announced that it has completed the transaction to acquire 100% shareholding in Siam Administrative Management and Security Guards Company Limited (SAMCO) in the amount of 500,000,000 baht.
SAMCO provides services covering security, administrative work, and maintaining the orderliness of buildings, which has more than 6,000 personnels. The company takes care of more than 400 various private clients such as financial institutions, large shopping centers, office buildings, factories and energy service providers.
