After pursuing its new strategic move towards digitalisation, Master Ad Public Company Limited or MACO, is set to achieve huge gains, seeing its rights offering (RO) reservation doubled since the sale of its entire domestic billboard assets to Plan B Media Public Company Limited or PlanB, securing THB 811.8 mn from issuing an additional 2,706 mn shares to its existing shareholders at the price of THB 0.30 per share.
Commenting on this welcome news, Mr. Phoon Chiong Kit, CEO of MACO, said, “Given the massive growth potential of the S-curve industries – namely those in high tech and innovation businesses – we have shifted our strategic direction towards the digital industry. Most recently, we have entered into a joint venture with YGGDrazil Group Public Company Limited or YGG, getting a head start on the gaming market, which has a market value of roughly THB 29,000 mn, and is projected to grow by 16% annually in the next 2 years, thanks to global technological advancement and changing consumer lifestyles in the digital era along with growing popularity of e-Sports among the new generation. After the announcement of our partnership with YGG, Mr. Tanat Juwiwat, CEO of YGG, led our team to attend G-Star 2021 – Global Game Exhibition, the biggest game industry show in South Korea, to explore and select games with large player base and high growth potential for the Thai and ASEAN markets. We are also currently in talks with major gaming firms to develop new games for Thailand and Southeast Asia and plan to launch 1 to 2 games within this year.”
“Moreover, recognizing the worldwide attention on digital assets, we have made an investment in Zipmex, Asia Pacific’s fastest growing digital assets exchange platform. In its latest move, Zipmex has joined forces with Grammy to propel the Thai Music NFT market into the world stage, signifying the growing significance of digital assets in everyday life. To date, Zipmex has over 1mn registered accounts, and aims to achieve unicorn status in the next two years”, the CEO of MACO added.
“From the aforementioned persuits, we are confident that our painstaking strategic transformation will give rise to the best new version of MACO. With our cash on hand and robust financial position, we will be able to explore new opportunities in the digital industry and thereby drive secure and sustainable growth for our shareholders and all stakeholders for years to come,” Mr. Chiong Kit concluded.
