Samart Telcoms begins Q4 with new project acquisitions worth over Bt2.2 billion, boosting its backlog to approximately Bt6.3 billion.

Mr. Watchai Vilailuck, Executive Vice Chairman of Corporate Strategy and New Business Development at Samart Corporation Plc., announced that Samart Telcoms (SAMTEL), a leading provider of comprehensive technology and digital innovation solutions, has been selected by the Government Housing Bank (GHB) to implement the “GHB System Upgrade Procurement Project,” which encompasses system maintenance and repair services.

The project is being executed under the SSCS Consortium, in collaboration with Silverlake Structured Services Ltd., a specialist in software solutions for the financial services sector. The total project is valued at Bt1.956 billion, with Bt1.5 billion allocated to SAMTEL.

The project’s scope includes upgrading, maintaining, and repairing the GHB System (both hardware and software) to enhance the operational efficiency of the bank’s core systems. Since 2017, SAMTEL has been entrusted by GHB to install and develop various systems, including core banking and loan origination systems, along with ongoing maintenance.

SAMTEL kicks off Q4 with new project contracts totaling over Bt2.2 billion, including significant projects from the Government Housing Bank and the Department of Lands, increasing its current backlog to approximately Bt6.3 billion. The company expects to sustain strong momentum for the remainder of Q4, anticipating that new contract signings will reach a total of Bt6.1 billion this year.

“At Samart Group, we are committed to adaptation by enhancing our readiness and implementing a clear strategic plan to navigate changes, with the goal of achieving sustainable growth,” Mr. Watchai said.

Additionally, Samart Corporation Plc. has announced the issuance of its second bond for 2024, featuring a 2-year term and an interest rate of 5.2 per cent per annum, payable quarterly. The bonds will be available to institutional and large investors, with subscriptions open from November 5 to 7, 2024.

The distribution will be managed by Daol (Thailand) Public Company Limited; Bluebell Securities Company Limited; Phillip Securities (Thailand) Public Company Limited; Globlex Securities Company Limited; Beyond Securities Public Company Limited; Finansia Syrus Securities Public Company Limited; Siam Wealth Securities Company Limited; Kingsford Securities Public Company Limited; Trinity Securities Company Limited; and Pi Securities Public Company Limited

The funds raised will be allocated to repay bonds maturing in January 2025, totaling Bt1.675 billion, as well as to support the group’s ongoing business operations and facilitate further growth initiatives.