AQUA SEEKS STAKES IN VN, LAO MEDIA PROVIDERS

       Aqua Corp, an integrated-media provider, is in talks with several media providers in Vietnam and Laos about acquiring stakes in their companies this year as part of a plan to expand within Asean.
       Managing director Jariya Nuksorn yesterday said Aqua wanted to enter the media business in Vietnam and Laos because of the high growth potential in those countries, where there are few providers at present.
       Besides, it would like to diversify risk from operating its business solely in the home market.
       Aqua is talking with up to four Vietnamese media firms and two in Laos about stake acquisitions. It might invest in more than one company in each country, she added.
       Aqua estimates an investment value of US$1 million-$2 million (Bt34 million-Bt68 million) per company. Jariya said the best scenario would be to acquire stakes in existing businesses, as the regulations for establishing new media companies in the two countries are quite complex.
       "We will choose companies that let us reach break even within three years. And it is better if those companies are partly acquired by the government, or even private firms that have good connections with state agencies, as we will then have more chance to win projects," she said.
       Aqua expects overseas business to contribute 20 per cent of its revenue next year.
       Jariya said the company planned to raise funds from the Thai stock market so that it could expand into other Asean countries.
       It will launch an initial public offering of about 85 million shares in the Stock Exchange of Thailand, for which it will submit a filing to the Securities and Exchange Commission as soon as possible.
       "We need about Bt300 million to Bt400 million for business expansion both domestically and overseas," she said.
       Aqua Corp was previously known as JR Deal, a leading billboard media provider. It was recently rebranded after Thai company Sunshine Corp, which has invested in many businesses, acquired a 40-per-cent stake in the company and increased its registered capital to Bt339 million.
       It has also established three subsidiaries to turn it into an integrated media provider: Aqua Point, which is a provider of rooftop and tri-vision advertising; Aqua Television, which is a producer of TV programmes; and Aqua Communication, which is a public relations, marketing consultancy and event-organising unit.
       Aqua Corp holds nearly 100 per cent of Aqua Point and Aqua Communication, and 40 per cent of Aqua Television.
       Jariya expects the company's revenue this year to grow by 50 per cent from Bt278 million last year, thanks to the income from its subsidiaries. It generated revenue of Bt170 million in the first half.