News Release

“V.L. Enterprise” is actively preparing for an IPO of 280 million shares to become a listed company on MAI. The fundraising scheme is designed for fleet expansion, Fleet maintenance and repairment , loan repayment and working capital. The Company also pursues opportunities to extend shipping routes in fastest-growing South East Asia countries.

Mr. Akekajak Buahapakdee, Managing Director of Capital One Partner Co., Ltd., a member of Globlex Securities Co., Ltd., VL’s financial advisor revealed that V.L. Enterprise Public Company Limited is in preparation for the listing on the Market for Alternative Investment (MAI).

Globlex Securities Co., Ltd. has submitted the filing of V.L. Enterprise Public Company Limited to the Securities and Exchange Commission Thailand (SEC) on 5th October 2018 for an IPO of 280 million shares, of which 200 million newly issued ordinary shares- equivalent to 25% of total paid-up capital after IPO - will be offered by VL while the balance of 80 million existing ordinary shares, or 10% of total paid-up capital after IPO , will be offered by Mrs.Chutipa Klinsuwan.

VL’s fundraising plan set at this IPO is for fleet expansion, carrying two options. The first option is to invest in building new vessels while the second option seeks to acquire second hand vessels for immediate services in order to increase annual aggregate transportation volume from both larger quantity per service voyage and higher number of voyage routes. However, the Company will carefully consider market conditions and general business situations. Furthermore, The Company will use the money raised in its IPO for maintenance and repairment, loan repayment and working capital.

“VL’s strength is its oil tanker fleet, representing 35,081 DWT, ranks number 4 in Thailand. VL’s fleet presents average age of about 16 years. Apart from capital increase plan, the Company also looks for opportunities to invest more in other routes as well as broaden customer base to include overseas clients, especially in high growth South East Asia countries. Nonetheless, the expansion takes both local and international economic conditions as well as return on investment into account,” Mr. Akekajak said.

Mrs.Chutipa Klinsuwan, Chief Executive Officer of V.L. Enterprise Public Company Limited., said that the Company is active in operation of marine transportation providing transportation of petroleum and chemical products. Its core products include crude oil, fuel oil, clean oil, lubricating oil and palm oil.

The Company also provides local and international transportation services mainly to business partners operating oil trading that requires marine transportation service provider who can deliver a high standard of customer service. Presently, the Company operates 12 vessels, representing 35,081 DWT, with average age of about 16 years and has total full load capacity of 36,036 cubic meters.

“Our vision is to be the most highly regarded company providing best services and quality standards to facilitate the transportation of petroleum and chemical products both in the country and in Asia region. We manage our business in an honest manner and in accordance with the principles of good governance. We provide quality and professional service and strictly adhere to the highest safety standards as well as investing in the development of employees. Moreover, we will create value and fair return on investment for our shareholders,” Mrs. Chutipa said.