Reported the results of business operation in Thailand in 2009 showed 45% profit increase

BackMar 03, 2010

Asiasoft Corporation (PCL) reported the results of business operation in Thailand in 2009 showed 45% profit increase and the company is presently gearing up for a complete penetration into the Vietnamese market in this year.

Asiasoft Corporation (PCL) reported that their profit in Thailand in the year 2009 had increased to 45% or THB 218.8 million, resulting from the efficiency in management of the company's capital and expenditures, including the development of the system to accommodate the increase of services to the customers. In addition, it was a result of the management of the company in Fun box the company within the group to gain the profit as high as THB12.47 million together with the strategy to penetrate the Vietnamese market this year as it has a high market value and factors to foster the on-line business in many aspects. The goal for profit in this year will see a growth of 20% and is confident that for the year 2010, it will be possible to reach a maximum profit since the company's inception.

Mr. Pramote Sootjitporn, Managing Chairman, Asiasoft Corporation (Public Company Limited) revealed the results of operation of the Asiasoft Corporation PCL or under the property name AS that "In the year 2009, the company had gained the profit of THB 218.81million in Thailand, for a growth of 45%, as compared with the profit gained in Thailand in 2008, with the gross profit of THB 150.56 million based on the success factors of the efficient management of capital expenditure and sales expenditures including the Customer Centric Marketing and development of the Core Network, to increase the bandwidth by up to 10 Gbps, which could accommodate the increase of customers and also serve the maximum requirement of customers. In addition, this was partly due to the management of Asiasoft in Fun box Ltd. Which is the company within the group, in its first year after Asiasoft had acquired the business and generated the profit growth of up to 689% or THB 1.58 million, when compared with those in the year 2008 from the operations overseas in Singapore and Malaysia where the overall profit had decreased from the past years due to the result of existing game services, which were not as anticipated and to the overall economic conditions which had not yet improved. However, in this year 2010, Singapore and Malaysia have begun to report improvements from the economic effects. The company has now focused on the strategy of accelerating the market, including the opening of new games in the average of 3-4 games per year, to expand the target group to offer more ample coverage, and also to reform the size of the team's structure to increase efficiency and reduce the capital expenditures from the previous year. It is confident that these factors would result in the growth of the overall operation."

Mr. Pramote added that "The company has envisaged the income in 2010 would grow to 20% from the strategy to forge marketing and investment in Vietnam as a key principal because Vietnam has a positive factor to facilitate many marketing aspects, and has as much as an 80 million population, who are in the age group of the internet users of approximately 20 million and the potential for this has been continuously increased every year. In addition, there is a rapid growth of the internet cafes with more than 20,000 shops at present and the cost of the internet service is as cheap as THB 4-5. Therefore, the internet entertainment media is accessible to the largest group of consumers and the gross market value is as high as THB 3,500 million, which for the market in Thailand this year, the net profit income could be seen for the whole year for the Atlantica game, which is most popular soon after it opened including, Twelve Sky 2, which was officially opened at the end of the previous year. Consequently, it is why the confidence in the year 2010, the total result of the company's operation would reach its maximum growth, since the company ‘s inception" said Mr. Pramote.