- Fortune Parts Industry Public Company Limited (“The Company”) was registered under the name of “Fortune Parts Industry Co., Ltd.” with an initial capital of Baht 2 million by Tanadamrongsak Family on 26 November 1991. To commence its operation, the company imported two models of auto part molds from Republic of Taiwan and commissioned other factories to produce the parts for the Company to sell to domestic clients.
- Increased paid up capital to Baht 20 million for importing 20 molds from Profortune Industry Company Limited who is the manufacturer of automotive parts in the Republic of Taiwan. The imported molds are used to manufacture grille, bumper and others plastic automotive parts
- Increased paid up capital to Baht 40 million, which Profortune Industry Company Limited from Republic of Taiwan invested in the company by holding 25% of total paid up capital.
- Increased paid up capital to Baht 60 million as a working capital in the company and prepare for the expansion of the business which was having continuous growth. Moreover, the company began to produce molds by hiring specialist from the Republic of Taiwan to work with the company. The company is fully in the manufacturer of automotive plastic business, including injection, plating, chrome painting and assembly plastic parts as well as design and build molds.
- Initially participated in auto parts expo “AMPA SHOW” in the Republic of Taiwan and exported products to foreign countries.
- Increased paid up capital to Baht 80 million to purchase land of 11 rais 60 square wah for building a factory at Lamlukka klong 7 to expand its production base prepared for foreign customers expansion.
- Relocated operations from Lamlukka Klong 4 to Lamlukka Klong 7 offering the usable area of 16,000 square meters.
- Restructured the company’s shareholders as Profortune Industry Co., Ltd. sold the business by sold the shares back to Tanadumrongsak family.
- Transformed into public company limited and changed the name to Fortune Parts Industry Public Company Limited
- Increased Paid-up capital to Baht 200 million to fund further business expansion:
- Built factory and warehouse on area of 14 rais 1 ngan 28 sqaure wah, totally 25 rais 1 ngan 88 square wah (useable area of 48,000 square meter) for expanding all production processes.
- Invested in an automatic chrome plating line, which increased capacity from 13 million square decimeters per year to 49 million square decimeters per year.
- Mold development and research by importing CNC machine (Computer Numerical Control) and EMD machine (Electrical Discharged Machine) from foreign countries for building large tools such as bumper and grill. Consequently, the company was able to reduce its cost from import mold from foreign countries.
- Increased another automatic painting line, total 2 lines, to prepare for OEM customers which could increase the capacity of painting process to 15.72 million square decimeters per year.
- Modified chrome plating system by using technology and chemical solution from UEMURA (Japan) and ATOTECH (Germany) for improving its quality from REM quality to OEM with Trivalent Chrome Plating (Cr3+) which used better biodegradable chemical solution than Hexavalent Chrome (Cr6+) and increased capacity by 5 million square decimeters to 54 million square decimeters per year.
- Built a 1,800 square-meter depot for raw material storage to accommodate the production growth.
- Invested in 4 injection machines, total 20 injection machines which increased its capacity to 4,103 tons per year.
- Built a painting line, total 3 lines, capacity was increased by 15.72 million square meters to 22.22 million square meters.
- Purchased nearby land area of 28 rais 4 square wah prepared for automotive customers’ demand and separated OEM and REM customers.
- Invested in a plastic injection with robot system which increased its capacity to 4,839 tons per year.
- Increased a painting line, total 4 lines which increased its capacity from 22.22 million square decimeters to 28.72 million square decimeters per year, prepared for OEM customers.
- Increased registered capital to Baht 295 million by issuing 95 million shares, with a par value of Baht 1.00 which can be allocated as follows:
- 32,000,000 common shares to existing shareholders, which already allocated. Therefore, the company had paid up capital of 232,000,000 shares
- 63,000,000 common shares offer to initial public offering in which 3,000,000 common shares offer to the company’s directors and employees, and 60,000,000 offer to general public.
- Acquired a plot of land nearby: 4 rais to prepare for continuous improvement expansion of production, research & development and mold makings area.
- Acquired a plot of land of 1-2-99 rais to build a new office building.
- First Day Trade in Stock Exchange of Thailand for Market for Alternative Investment (MAI) on 20 September 2012.
- Built Engineer Building for 30% expansion capacity of injection mold
- Expansion capacity for injection, for production bumpers.
- Expand VACCUM plating process to accommodate growth in production lamps.
- Built new office, 80% progress
- Built new warehouse, more than 20% progress
- Increase capital of Baht 25 million, from Baht 295 million to Baht 320 million by issuing new ordinary shares of 25 million shares at par value of Baht 1.00 to support the conversion of convertible debenture.
- Built new office and showroom with almost 100% progress
- Built new warehouse, more than 80% progress
- Changed the Issued and paid-up share capital from Baht 295 million to Baht 301 million at par value Baht 1.00 due to foreign fund exercised the right to convert the convertible debentures to common stock.
- Change par value of Baht 1.00 per share to the new par value of Baht 0.25 per share with registered shares of 320 million shares to 1,280 million shares and paid-up capital of 300.60 million shared to 1,202.38 million shares.
- Invested in the Joint Venture, namely “Fortune-Parts Industry Ecuador Cia, Ltda. Located in Ecuador, for 45% of the registered capital of USD 500,000 representing the investment of USD 225,000. The investment objectives is to accommodate future growth related to production, and distribution of automotive parts and accessories in South America.
- Increase the company’s registered share capital from Baht 320 million (1,280 million ordinary shares of Baht 0.25 each) to Baht 395.73 million (1,582.92 million ordinary shares of Baht 0.25 each), through the issuance of 302.92 million additional ordinary shares with a par value of Baht 0.25 each, to be reserved for the exercise of the warrants.
- Paid-up 45% of share capital of USD 500,000 to Fortune-Parts Industry Ecuador CIA, LTDA. Located in Ecuador representing a total investment of USD 225,000.
- Issuance and offering warrants (FPI-W1) by allocated to the existing shareholders of the company in a ratio of 1 warrant for every 4 existing ordinary shares, not exceeding 302.92 million units, term not exceeding 3 years from the issue date, exercise ratio is 1 warrant per an ordinary share, and exercise price is Baht 2.
- Construction of office building, showroom and warehouse building are completed.
- Increase capacity by adding an injection mold machine of 2,500 tons and 1,000 tons for increasing the production capacity of plastic bumper and grille groups.
- Enhance chrome plating process to increase production effectiveness and quality, giving rise to a market segment of OEM.
- Signed a Memorandum of Understanding (MOU) for cooperation in the biomass power plant of up to 120 MW. Also, the company established four companies in which each company has a registered capital of Baht 20 million and the company has paid the amount of Baht 4.75 million.
- Signed a Memorandum of Understanding (MOU) on cooperation in India to establish a Joint Venture ALP FPI PARTS PRIVATE LIMITED in order to expand the production of the OEM which is considered to be large and has high growth rate.
- Decreased registered capital by Baht 17,072,366.50 from the existing registered capital of Baht 395,731,908.25 to the new registered capital of Baht 378,659,541.75, by cancelling 68,289,466 outstanding and unsold ordinary shares that have been reserved for exercising the right for the company’s convertible debentures, at par value of Baht 0.25 per share.
- Incorporated associates for the total of 4 companies:
- Safe Energy Group (Narathiwat 1) Co., Ltd.
- Safe Energy Group (Yala 1) Co., Ltd.
- Safe Energy Group (Pattani 1) Co., Ltd.
- Safe Energy Group (Songkhla) Co., Ltd.
FPI investment in 4 associates companies at 25, 20, 25, 25, respectively.
- Signing Memorandum of Understanding (MOU) with
- Sriwattana Green Power Co.,Ltd. (“SGP”)
- Srijaroen Bio Power Co.,Ltd. (“SBP”)
- Prize of Wood Green Energy Co.,Ltd. (“Prize”)
For cooperation on feasibility study to invest in biomass power plant project of SGP, SBP. According to SGP and SBP, the operation of the biomass power plants is in Burirum province with installation capacity at 9.9 MW each. Prize operates the biomass power plants in Narathiwat province with installation capacity at 7.5 MW each.
To dissolve the investment with the following companies;
- Safe Energy Group (Narathiwat 1) Co., Ltd. held 25.00% by FPI
- Safe Energy Group (Yala 1) Company Limited held 20.00% by FPI
- Safe Energy Group (Pattani) Company Limited held 25.00% by FPI
- Safe Energy Group (Songkhla) Company Limited held 25.00% by FPI
Due to these 4 joint venture companies could not pass the auction to acquire power purchase agreements (PPA) according to the regulation of purchasing the electricity from renewable power producer by competitive bidding at the first phase for the 3 southern border provinces and 4 districts of Songkhla province. The register of the companies’ liquidation was on 15 December 2016.
- Paid the share capital for the investments in ALP FPI PARTS PRIVATE LIMITED, a 45% stake with registered capital of Rs 200,000,000. The company is based in India. The investment is to expand OEM production base, which is considered as a large market with high growth rate.
- Investment in automatic painting line with robotic painting system.
- Improve the use of thermal energy from gas to biomass energy.
- Invest in the new associate company, namely SAFE Energy Holdings Company Limited located in Thailand that registered to invest in biomass power plant. Incorporated and registration on 7 February 2017 with registered capital of Baht 1,000,000. The company holds 49.98% of the registered share capital.
- On 13 February 2017, the meeting of the company’s Board of Directors had a resolution to investment in a biomass power plant project of Prize of Wood Green Energy Co., Ltd. by having Safe Energy Holdings Company Limited purchase 99.99% of the registered share capital, representing an investment of not more than Baht 425 million.
- On 13 March 2017, an Extraordinary General Meeting of the shareholders of Safe Energy Holdings Company Limited passed a resolution to approve an increase in its registered share capital from Baht 1 million (10,000 ordinary shares of Baht 100 each) to Baht 426 million (4,260,000 ordinary shares of Baht 100 each), through the issuance of 4,250,000 additional ordinary shares with a par value of Baht 100 each for purchasing ordinary shares of Prize of Wood Green Energy Co., Ltd. However, the company waived its right to subscribe to some additional shares. As a result, the company’s shareholding decreased from 49.98% to 33.37%. During the year, the company made share payments in proportion to its investment amounting to Baht 142 million.
- On 11 August 2017, an Extraordinary General Meeting of the shareholders of Safe Energy Holdings Company Limited passed a resolution approving an increase in its registered share capital from Baht 426 million (4,260,000 ordinary shares of Baht 100 each) to Baht 581 million (5,810,000 ordinary shares of Baht 100 each), through the issuance of 1,550,000 additional ordinary shares with a par value of Baht 100 each to existing shareholders for investment in Bina Puri Power (Thailand) Co., Ltd. and SAFE Biomass Co., Ltd. During the year, the Company made share payments amounting to Baht 52 million.
- On 31 August 2017, the Annual General Meeting of the shareholders of ALP FPI PARTS PRIVATE LIMITED passed a resolution increasing its registered share capital from INR 200 million to INR 320 million, with the Company’s shareholding structure remaining unchanged.
- Acquired land of 6 rais with the total investment of Baht 35.65 million. The transfer ownership of 4 rai which accounting for Baht 22.94 million to expand the production lines.
- Invested in the construction of engineering building of 6,400 square meter, and the value of the construction is Baht 64.13 million. The building will be used for producing mold and mold storage.
- Install solar rooftop of 0.92 MW to use the solar energy in the production process. Green Yellow Co., Ltd. is the investor and sell the electricity with discount of 23.5% for 20 years.
- Condensate Return System which could reduce water usage of 4,468 m3 per year and LPG usage of 23,822.18 kilogram per year and biomass fuel usage of 145,566.08 kilogram per year.
- Set up Screw Air Compressor which could decrease the use of electricity of $185,472 (kWh/year)