Syntec

Syntec Construction Public Company Limited is a construction contractor and engineering company located at 555/7-11 Sukhumvit Soi 63 (Ekamai) Sukhumvit Road, Kwaeng Khlongton Nua, Khet Wattana, Bangkok 10110, telephone no. (662) 023816333, fax no. (662) 02-7115183. The Company started at the end of 1988 as a joint-venture company between one of Thailand's leading steel pipe manufacturers and three of Singapore's major construction contractors. Blending the strong business connections of the Thai partner with the Singapore partners' regional experience and expertise in construction and civil engineering, Syntec rose to rank as one of the largest fully integrated construction groups in Thailand. Syntec changed its status to that of a public company in October 1992 and became the youngest Thai construction company to be listed on the Stock Exchange of Thailand in July 1993. The Syntec Group has been grown into a conglomerate of over 30 subsidiaries and associated companies engaged primarily in construction and related activities as well as property development and investment in Thailand and the South-East Asian countries of Malaysia, Singapore, Myanmar, Philippines and Vietnam. In the year 1997, Thailand experienced an economic downturn that swept throughout South East Asia and the ensuing slump in the property sector forced various companies especially in the construction industry to fold. Only few survived unscathed because of this economic crisis. The construction industry suffered much and as a result a lot of on-going projects was either suspended by the owners or worse, literally abandoned. The number of private sector projects declined sharply and the market saw fierce and stiff competitions among the local construction companies. Syntec suffered liquidity problems brought about by these factors and as a result applied for a debt-restructuring plan through the Bankruptcy Court of Thailand. June 2001 saw the Bankruptcy Court giving its approval to the Company's debt-restructuring plan and the entry of Richee Venture Holdings Co. Ltd. (Richee) as a major investor injecting fresh capital in the amount of Baht 300 million in return for newly issued shares of Syntec. This did not only increase the Company's chances of surviving the effect of the economic crisis but also affirmed its confidence in its ability to weather the crisis. After restructure for a few year, Bankruptcy court released Syntec to be normal company in April 2003. Syntec experience the growth in construction during 2003 then by the end of 2003 Syntec increase the capital to 1,600 million baht. To reflect the new Syntec under the new era , the company change the name from Siam Syntech Construction Public Company Limited to Syntec Construction Public Company Limited along with a new logo in May 2004.