Stock exchange market, Bangkok, May 29th, 2008 - Asiasoft Corporation Public Company Limited (AS) steps forward to write a new page in the history of gaming industry, by being the first company in online gaming business in Thailand to enter the stock market. Having a total 47.4% profit in the year 2007, Asiasoft is confident that her online gaming business, which covers up to 4 countries namely Thailand, Singapore, Malaysia and Vietnam, will be the main pushing force for long term growth of the shares.
Mr. Pramoth Sudjitporn, Chief Executive Officer of Asiasoft Corporation, disclosed that Asiasoft is the leading online gaming company in South-East Asia with more than 70% income coming from online gaming business. In the past year, the company recorded a total income of 1559 million baht, increasing from the year 2006 by a huge 47.7%. The company also recorded a net profit of 254 million baht, 128 million baht more than the previous year, increasing by 101.7%. The main reason behind this success lies in the variety of online games that meets the consumers' demand. Thus, resulting in increasing consumers, this contributes to success in both Thailand and aboard. Success aboard is particularly notable with a total income of 629 million baht, increasing by 273 million baht or 76.8% from the previous year,
"Even in the current unfavorable market condition caused by political issues. We are confident that our shares will stay above the IPO price of 12 baht per share. With confidence in the foundation, potential of our business, and strategically distributed shares, it will not be unexpected if shares prices will rise. As for the current common stock distribution, Asiasoft will offer 75 million shares at 12 baht per share, valuing 900 million baht in total. It is also a pleasant news that we have received tremendous interest from investors, with 3 times more shares subscription over our expectations. This is due to the fact that online gaming business is a high growing industry, and that Asiasoft is a Thai company that has expended its business overseas, making successes aboard. Financial results in 2007 clearly reflects the growth potential of both our income and net profit, which is the result of our strong business foundation in both domestic and overseas. This results in great positive feedback from both local and overseas investors. Most recently, an international fund investor Lombard Asia III, an international fund managed by Lombard Investment, Inc., has shown interest in 15 million shares of our IPO shares, at 1 baht par value. After stocks are traded in the stock exchange market of Thailand, Lombard Asia III will buy another 15 million shares from current share holders at the IPO price, totaling 30 million shares which is 10% of the total traded shares. This reflects the confidence in Asiasoft's foundation and growth potential in the online gaming business. Furthermore, being a partner shareholder will increase the potential and success of Asiasoft in expending business overseas."
Asiasoft Corporation Public Company Limited (AS) has a total of 316 million baht registered capital, divided into 316 million common stock at 1 baht per share, with paid capital 225 million baht, and another 75 million shares IPO which is 25 % of all paid capital. The funds attained from this distribution will be used investing in our online gaming business overseas especially in Malaysia and Vietnam, buying additional online game licenses, investing in computer network for increasing service quality and used as capital.
About Asiasoft Corporation Public Company Limited (AS)
Asiasoft Corporation Public Company Limited (AS) founded 2001, is the leading online entertainment service provider in South-East Asia (Regional Online Entertainment Provider) focusing on online games in Thailand, Singapore, Malaysia and Vietnam. Asiasoft also has other business such as, online game development, online advertisement hosting and game portal website www.playpark.com . As of 31 December 2007, Asiasoft provides 12 online games in 4 countries, Thailand 7 games, Singapore 5 games, Malaysia 5 games and Vietnam 6 games, with more than 8.2 million registered users in total. Some of our more popular games include Maple Story, Audition Dance Online, Yulgang, Ragnarok Online and Cabal.