En
Print This
Email This
Company History

The History and the Major Developments

The family of Taweesaengsakulthai (or CHO Thavee group) by Mr. Cho Taweesaengsakulthaiand Ms. Usa Taweesaengsakulthai was the founder of the transportation trucks in KhonKaen province. He was also the founder of the truck dealer since year 1968. He, then, has expanded to the business of manufacturing and assembling bus body. In 1980, he has expanded to the manufacturing and assembling of the body of trailer, semi-trailer, and various kinds of transport truck. Cho Thavee group has continuously developed the technology of trailer and commercial trucks. With the neat in designing of the body in various kinds suitably with the customer’s truck chassis in order to produce the strength and the durable truck body to meet with types of transportation work using under every kind of road condition and weather condition.

In the second generation of Cho Thavee group leading by Mr. Suradech Taweesaengsakulthai, a son of Mr. Cho Taweesaengsakulthai and Ms. Usa Taweesaengsakulthai . They graduated in field of automobile engineering and business administration from Japan, viewing to the trend of demand in large logistics system by the large special trailer. He also viewed to the important of the innovation in assembling the truck body, which rely on the leading technology from abroad, will be increased in the industry of trailer, semi-trailer in the future. He, then, decided to establish Cho ThaveeDollasien Co., Ltd. (“The company” or “CHO”) on November 18,1994 by joining the family company namely Khonkaen Cho Thavee(1993)Co.,Ltd. (“CTV-1993”) with the leading manufacturer company of truck body and trailer from Germany namely Doll Fahrzeugbau AG (“DOLL”), in order to do the business of designing, manufacturing, assembling the body, and installing of engineering system pertaining to the truck body, the trailer and the truck for commercial. The registered capital was 10 million baht, 74% of these to be held by the group of Thai shareholders and CTV-1993, and the rest of 26% to be held by DOLL.

CTV-1993 (previously called “Cho Ruamthavee industry Co.,Ltd.” and has been changed later on May 28, 1993). DOLL (previously called Emil Doll Gmbh) who has the experience for long time in manufacturing and assembling of the truck body for commercial. Detail as follow:

  • CTV-1993 started the business of manufacturing and assembling of the truck body, the bus body, and has developed the technology in logistics in Thailand since 1990. At the present, CTV-1993 do not do the business of manufacturing and assembling the truck body. Instead, CTV-1993 altering to do the business of selling the front part of the truck, all kinds of truck and offering the services of the truck hire purchasing loan.
  • DOLL started the business of manufacturing and assembling of the truck body and special types of trailer since 1922(after World War I). DOLL has the competency in manufacturing special trailer for loading materials with heavy weights and in large sizes, also with the materials with special length, by using the modern technology.

In addition, the company has joined with the French business man in 2005 in establishing Cho ThaveeThermotech- Co.,Ltd. (“CTV-TMT”) with registered capital of 10 million baht. CHO held in portion of 80% of registered capital, and the French business man held in portion of 20% of registered capital. This company has the purpose of doing business in designing, manufacturing, assembling, and installing of the fiber glass fresh box for truck with light weight for using in the transportation of merchandises, fresh foods and dried foods. In order to maintain the quality of the products until the destinations, also with the physical shape and the temperature of the products to be kept in the same condition as prior to the transportation. At present, CHOheld the shares in CTV-DOLL for 99.99% of the registered capital.

The company, with the longtime of experiences and the specialties of the executives and team work in field of engineering and management, combine the world-class engineering technology with the professional management in reaching the capability of expanding the business to the business of management services for special project pertaining to the logistics and other services dealing with the company products such as: the project of building offshore patrol vessel: OPV which the company has joined with Bangkok Dock(1957) Co., Ltd. in managing with modern technology in order to increase the capability of ship building industry of Thailand to be competed in the region level. The project of maintenance and fixing center of the trucks to Linfox Transport (Thailand) Co., Ltd. (“LINFOX”), and project of TESCO-LOTUS with over 1,000 units.

The company has changed its shareholders group structure. Mr. SuradechTaweesaengsakulthai, founder of the company and currently the executive director and management, has invested in the company’s common stocks wholly of CTV-1993 since 2002. At the present, the company’s shareholders structure held by the group of Taweesaengsakulthai as major shareholder with the portion of 93.18% of registered capital prior to the initial public offering (“IPO”) during May 2-7, 2013. The company has raised its registered capital and called for the additional paid-up capital for 50 million baht, and the company’s common stocks have been registered in the market of alternative investment (MAI). At the book closure date on December 27, 2013, Mr. Suradech Taweesaengsakulthai held the shares for 59.93% of the paid up Capital the Company, later, has issued warrants to its existing shareholders without value on October 28, 2013 amounting to 360 million units, at the portion of 2 existing shares to 1 warrant and has registered for the additional capitals in order to be reserved for the exercise of the rights in the amount of 90 million baht. The company offered the right in converting 1 warrant to 1 common stock at the price of 0.50 baht with the maturity of 3 years from the date of issuing of warrants. The exercise begins upon the warrants period of 1 year at the end of each quarter starting from December 30, 2014 until October 27, 2016 which will be the last day of the exercise. On December 30, 2015, the company had its registered capital of 270 million baht with paid-up capital of 206,127,675 baht at 0.25 baht par value per share and currently, the company has paid-up capital of228,478,200baht.In the period of year 2015, there were 5 exercises of the company’s stock warrants (CHO-W1) with the total stock warrantsexercised 193,912,800 units. As a result, the company’s paid up capital has increased by 48,478,200 baht. The company had registered the added capital on January 7, 2016

Since the establishmentthe history and major developments of the company and its subsidiary can be summarized as follows:

In 2015

In 2015 :
  • The company collaborated with the German company, FRAMO GmbH in order to transfer technology and innovation energy for vehicles by electricity and programing control systems in Thailand. With the main purpose to provide the automotive components that suitable for every level of entrepreneur.
  • The company was the contractor of KKU Smart Transit, an NGV public transportation which will be operated in the area of Khonkaen University for the five-year contract (Beginning October 1, 2015, ended September 30, 2020).
  • The company signed a Memorandum of Understanding (MoU) with CP ALL and Faculty of Engineering Technology, Panyapiwat Institute of Management (PIM). The tripartite hasco-operated to develop a project of alternative energy systems and logistics automotive which generated the first electric commercial vehicle in Thailand.
  • The company signed a Memorandum of Understanding (MoU) with Faculty of Engineering, KhonkaenUniversity on September 9, 2015. The main objective is to improve the ability of students, the faculty staffs and CHO staffs and to create the research and development of automotive, public transportation, logistics and rail systems industry management in order to meet the international standard.
  • The company established a southern maintenance base in PhunPhin, SuratThani province, Thailand.
  • The company has registered the changes in capital on April, 2015 from THB191,365,325 to THB202,559,900 due to the 2nd exercises of the company’s stock warrants (CHO-W1) on March 31, 2015 for 44,778,300 units. Thus, the company received THB22,389,150 for the working capital.
  • The company had participated in the auction of the government agency’s 489 units of natural gas (NGV) public transportation buses purchasing project contract of 1,784.85 million baht and the 10 years buses maintenance contract of 2,446.35 million baht by electronics method and the scope of work (TOR) had defined conditions for the repair and maintenance of buses. The government agency announced that the company has won the auction for the repair and maintenance of buses on July 27, 2015. Afterward, The Company had received a canceling letter of the 489 unitsof natural gas (NGV) public transportation buses purchasing project contract and the 10 years buses maintenance contract on December 3, 2015.
  • The company has registered the changes in capital on July 2, 2015 from THB 202,559,900 to THB 205,376,975 due to the 3rd exercises of the company’s stock warrants (CHO-W1) on June 30, 2015 for 11,268,300 units. Thus, the company received THB 5,634,150 for the working capital.
  • The company has registered the changes in capital on October 6, 2015 from THB 205,376,975 to THB 206,127,675 due to the 4th exercises of the company’s stock warrants (CHO-W1) on September 30, 2015 for 11,268,300 units. Thus, the company received THB 1,501,400for the working capital.
  • The company has registered the changes in capital on January 7, 2016 from THB 206,127,675 to THB 228,478,200 due to the 5th exercises of the company’s stock warrants (CHO-W1) on December 30, 2015 for 89,402,100 units. Thus, the company received THB 44,701,050 for the working capital.

In 2014

In 2014 :
  • On July 28, 2014, The Company considered appointing Corporate Social Responsibility (CSR) Board of Directors committed. The President and Chief Executive Officer act as the center for sustainability movement.
  • The Company considered appointing The Corporate Governance, Risk Management, Nomination and Compensation Committees.
  • On January 7, 2015, The Company was registered the change in its paid-up capital from 180,000,000.00 Baht to 191,365,325.00 Baht from the exercise of the Warrants to purchase of ordinary shares of The Company No.1 (CHO-W1) on December 30, 2014.

In 2013

In 2013 :
  • The company turned into the public company limited, and changed its name to “Cho Thavee Dollasien Public Company Limited”.
  • The company raised its registered capital from 130 million baht to 180 million baht on 2nd January 2013, by issuing the additional common stocks for 200 Million shares with par value of 0.25 baht each for the initial public offering (“IPO”). The company’s stocks have been registered in The Market for Alternative Investment (MAI). The company received funds from IPO for 360 million baht which were recorded as capitals for 50 million baht, and share preium for 291.36 million baht (net amount after deducting expenses related to the offering of common stocks in approximate of 18.64 million baht).
  • On 28th October 2013, the company issued the warrants to the existing shareholders with no commercial value for 360 million units. With the portion of 2 existing shares to 1 unit of warrant. The company has registered its additional capitals for 90 million baht reserved for the exercise of warrants. One warrant can be converted to one common stock at the price of 0.50 baht, with the maturity of 3 years from the date of the issuance of warrants. The exercise will be started upon the first maturity of warrant. The first exercise date fall on 30th December 2014, and at the last day of each quarter until the last day of the exercise on 27th October 2016. At the present, the company’s registered capitals are 270 million baht comprising of the common stocks of 1,080 million shares with par value of 0.25 baht. With the paid-up registered capitals of 180 million baht.
  • The company has been accredited for the quality standard of factory in modifying truck in equivalent to factory quality of MAN Truck & Bus AG. (“MAN”) Germany, in modifying the truck of MAN requested from MAN’s customer. This was the first factory outside Europe.
  • The company has been appointed only one in Thailand by BAE Systems Overseas Inc. from The United Kingdom as a solely sale distributor of spare parts and the technical supporting for the products concerning all of the vehicles system, and parts in repairing and supporting for armed system, and all of the supporting products, except for gunned ship with the source from U.S.A.
  • The company has been appointed from Morooka, Japan as the importer and sale distributor of the Morooka rubber crawler carrier for Thai market.

In 2012

In 2012 :
  • On May 30, 2012, the company signed an agreement for the cooperation with Hanaoka Sharyo Co., Ltd. from Japan who is the manufacturer of group support equipment used in worldwide airports.
  • The company got a job in managing the project in repairing and maintenance of trucks for more than 1,000 units for Linfox Transport (Thailand) Co., Ltd. and 4 service centers of Tesco- Lotus: Lamlukka center, Wangnoi center, Samkoke center, and Bangbuathong center.
  • The company has been approved the investment promotion from The Board of Investment Promotion (BOI) in manufacturing the container dolly, with production capacity of 1,600 units/year. The company derived the right for the exemption of corporate income tax from the net profit incurred from the business being promoted in total of not over than 100% of the investment, excluding property costs and working capital, for 8 years period. The company also derived the import duty exemption on raw materials and essential supplies which have to be imported abroad for production for 5 years period.