Jenkongklai Public Company Limited (mai: JPARK) is preparing to close a big deal to expand service areas by an additional 1,000 parking lots around public hospitals, and preparing to penetrate other provincial areas.
The parking space service provider has over 28,000 parking lots around both Bangkok and surrounding areas, which are connected to the mass transit system,central business districts, shopping centers, educational institutions, and airports. JPARK is preparing to close a big deal to expand service areas by adding an additional 1,000 parking lots around public hospitals which have high demand by the end of 2023.
In addition, JPARK still has a backlog of 99.35 million baht worth of projects as of June 2023. JPARK will gradually recognize these incomes until 2026, and will recognize more than 43.49 million baht for this year alone.
Mr. Santiphon Jenwattanapaisan, Chief Executive Officer of JPARK, revealed the plan for market penetration in other provinces that have high demand to create opportunities for future growth. The CEO guaranteed bright results in the second half of the year after the tourism sector continues to recover. The CEO stated that JPARK is aiming for 15-25% revenue growth in 2023.
JPARK recently kicked off its first trading day in the Thai stock market on October 3. The opening price jumped to 4.86 baht, representing an increase by 28% from its IPO at 3.80 baht. The price went up as high as 5.35 baht before sliding down to close at 4.66 baht.
The price has been trending downward since the first trading day, partly due to the market condition. JPARK closed the morning session on October 6 flat at 4.02 baht. The current JPARK’s P/E ratio is around 25, with 0.11 baht earning per share.
