Ditto (Thailand) Public Company Limited (SET: DITTO) expected to recognize revenue from the new zoo phase one project, totalling an amount of more than THB 1 billion in 2024. The company was confident about the high chance of it attaining the next phase, totalling an amount of THB 5 billion. Aside from the system management at the new zoo, the company will also issue Carbon Credit Token based on the mangrove forest project in mid-2024, with the recognition of Carbon Credit for the next 30 years, and also merged itself with NETBAY to prepare for big projects in 2024 after buying 24.90% of NETBAY’s shares.
Mr. Thakorn Rattanakamonporn, Chief Executive Officer of Ditto (Thailand) Public Company Limited (SET: DITTO), revealed via “Kaohoon” that Ditto’s new zoo phase one, totalling amount of THB 5.354 billion, has currently covered 80% of the area with soil. There will be more construction in 2024-2025, and DITTO and Siam TC Technology Co. Ltd., the company’s subsidiary, will begin to recognize the revenue in the technology and animal display parts in accordance with the progress of the construction.
He stated that the revenue will gradually be recognized to a third of the aforementioned backlog or around THB 1 billion until 2025, excluding new projects. This zoo will contain a digital system, IT system, tickets booking system, data system, and applications to serve visitors. Meanwhile, there will be employees to start working in phase two in 2025, with an expected jobs value of more than THB 5 billion, and the process will take about 5 years to accomplish.
The aforementioned zoo has an area of 300 rai on a royally-sponsored land, located at Khlong Hok, Thanyaburi, Pathum Thani. It will be a leading modern zoo with the world standard, a learning area about nature and wild animals, a conservation, research, and breeding of animals to bring them back to important parts of nature for both domestically and internationally. It will also be an amusement park for visitors, be environmentally friendly, as well as being a comfort facility for people. Human, animals, and nature will be linked as one with the world leading technology, showing the characteristics of a modern zoo.
Regarding the mangrove forest project, there was the 28th Conference of the Parties of the UNFCCC (COP28), taking place in Dubai, United Arab Emirates. The world is currently giving priority to climate change, and DITTO also values the said topic. The company has already requested for more afforestation areas and conservation of mangrove forests with the total area of 170,000 rai, separating to 20,000 rai of newly afforestation and 150,000 rai of community forest, which will be registered to issue Carbon Credit Token with Token X. The Carbon Credit Token is expected to be issued in the middle of 2024, allowing the company to diagnose the first set of Carbon Credit in 2025-2026.
Regarding the investment of ordinary shares in Netbay Public Company Limited (mai: NETBAY), the company has bought 49.8 million shares or 24.90% of paid-up capital. As NETBAY is the company that specializes in Digital Platform, the merger will increase the value and expand the strengths of all-rounded DATA services for both government and private sectors. NETBAY has a digital platform service, called Intelligent Box (iBox), which DITTO can use to expand its business, while both companies expect cooperation on big projects in 2024.
