Mr. Chaithad Kulchokwanich, Chief Financial Officer at Ditto (Thailand) Public Company Limited (SET: DITTO), stated via “Kaohoon” that the company aimed to produce 1 million tons of carbon credit each year from the existing 176,496.24 rai of mangrove forest. If calculated with the price of THB 2,000 per ton, the company will recognize an increase of THB 2,000 million each year, compared to the revenue of THB 1,000-1,500 million and a net profit of THB 200-300 million per year in the present. It will be deemed rapid growth for the company.
DITTO will be able to cultivate carbon credit from mangrove forests from 2027 onwards, building the new s-curve for this business model. The company prepared for the issuance of the digital token for investment in carbon credit for investors to be a part of the project with DITTO, while the main focus of the company was still the distribution of carbon credit, which were generated from mangrove forests and deemed to be blue carbon.
Meanwhile, DITTO had appointed Token X Company Limited (Token X), a subsidiary of SCB 10X Company Limited, to be the ICO portal in order to issue the digital token for investment in carbon credit.
Regarding the cultivation of the mangrove forest, Siam TC Technology Company Limited, a subsidiary of DITTO, was in charge of the operation, as the company was permitted by the Department of Marine and Coastal Resources to plant and nurture the mangrove forest with an operating period of 30 years.
Regarding the zoo project, Mr. Thakorn Rattanakamonporn, Chief Executive Officer of Ditto (Thailand) Public Company Limited (SET: DITTO), stated that Ditto’s new zoo phase one, totaling an amount of THB 5.354 billion, will start recognizing its revenue in 1Q24. Currently, the foundation and grading have been completed, while the area is in the process of construction, technology setting, and exhibition planning.
He stated that the revenue will gradually be recognized to a third of the aforementioned backlog, or around THB 1 billion, until the end of 2025, excluding new projects. This zoo will contain a digital system, a ticket booking system, and a data system to serve visitors. Meanwhile, the company is expected to compete in the bidding for phase-two project, with a total value of THB 5 billion and an overall operating period of 5 years.
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. The investment is worthwhile 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 the government and private sectors. NETBAY has a digital platform service called Intelligent Box (iBox), an Electronic Know-Your-Customer (E-KYC) system that is currently provided to clients in the government sector. The company can use iBox to expand its business and help increase the revenue of DITTO and NETBAY, while both companies are expected to cooperate on big projects in 2024.
