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Asiasoft Corporation Public Company Limited has shown continued success in online game business, with a 47.4 per cent growth in revenue and a 101.7 per cent growth in net profit in 2007. The notable performance supports Asiasoft's leading presence in Southeast Asia's online game industry, with the biggest market share in Thailand and Singapore and the second-biggest share in Malaysia and Vietnam. It reiterates the plan to list on the Stock Exchange of Thailand (SET) in May.
Mr. Pramoth Sudjitporn, Chief Executive Officer of Asiasoft Corporation, disclosed that in 2007 the company recorded the turnover of Bt 1.559 billion, up Bt 501 million or 47.4 percent higher than in 2006. The net profit totalled Bt254 million, up Bt128 million or 101.7 per cent from the previous year. Attributing to the success was the diversity of online games which satisfied target groups' various preferences. The warmly-welcomed products contributed success in all markets and expanded the online gamers base, particularly overseas. The three overseas markets generated revenue of Bt629 million, up Bt273 million or 76.8 per cent from 2006. "Asiasoft always seeks to develop diversity amongst its games," Mr. Pramoth added, "to reach out to as many gamers in this mutli-ethnic region as possible."
At the end of 2007, Asiasoft launched 12 online games in the four countries. This year, a number of new games will be unveiled, aside from two new games launched earlier this year - Ghost Online which is designed for gamers of all ages and No.1 e-sport game Freestyle Street Basketball spiced up with innovative features, hip-hop music and chic fashion. Asiasoft has launched Summoner Master Online, the first ever online game developed by a Thai team in partnership with two of Thailand's leading card game companies - Santo Nino and PlayPal. It also plans to introduce three or four new games this year; one of which is Sudden Attack, the number one ‘First Person Shooting' style game from Korea, which should further strengthen Asiasoft's presence. Diversity of games to respond to all customer preferences not only boosts the revenue, but maintains Asiasoft's leadership in the integrated online entertainment sector, Mr. Pramoth said.
On Asiasoft's initial public offering (IPO) to raise funds for regional business expansion, Mr Pramoth said the Securities and Exchange Commission has approved the company's plan to offer 75 million shares. On improved market sentiments, the company is ready to list on the Stock Exchange of Thailand, expecting to sell the shares and start trading on the bourse in May. Asiasoft is preparing for a domestic roadshow, probably kicked off in the first week of May, to raise confidence among institutional investors in the company with the revelation of 2007 financial results and other information. The IPO price will be settled after a book building, and the share subscription period is slated for 20-22 May.
The IPO is expected to win overwhelming interest due to high-growth rate of the online game industry and the success of the Thailand-based company overseas. The 2007 financial results demonstrated the company's business potential in terms of revenue and net profit, buoyed by the strong presence in domestic and overseas markets.
Asiasoft lodged the IPO filing to the Securities and Exchange Commission in November 2007, supported by very successful road-shows providing information to prospective investors both in Thailand and overseas. However, due to the unstable political situation at that time and its inevitable knock-on effect on the SET, floatation was delayed.
"We will be holding a further road-show in this country during the first week of May to present additional information underscoring Asiasoft's potential," stated Mr. Pramoth.
Asiasoft Public Company Limited has Bt316 million in registered capital, consisting 316 million shares at Bt1 par value each. Of total, Bt225 million is paid-up. The 75 million shares slated for the IPO account for 25 per cent of the paid-up capital. Proceeds from the share sale will be used to expand the online game business overseas particularly Malaysia and Vietnam, procure more online game copyrights, invest in softwares for higher service efficiency, and increase the working capital.
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About Asiasoft Corporation Public Company Limited
Established in 2001, Asiasoft Corporation Public Company Limited, a leading online entertainment provider in Southeast Asia, focuses on the provision of online gaming services to Thailand, Singapore, Malaysia and Vietnam. The company also has affiliates involved in international investment, computer and online game development and game portal services.
Currently, Asiasoft offers twelve online games in four countries, namely Thailand (seven games), Singapore (five games), Malaysia (five games) and Vietnam (six games) and boasts more than 8.2 million registered gamers in these countries. Its most famous games are Cabal, Ragnarok, Audition Dance Online, Maple Story and Yulgang .
