Business Operations of the Group
1) Utilities Department, production and distribution of tap water and installation of water supply systems to manage tap water on Koh Samet and surrounding areas in Pluak Daeng District, Rayong Province, which is operated by subsidiaries: Samet Utilities Co., Ltd., Pluak Daeng Co., Ltd., and K Waterwork Engineering Co., Ltd.
2) Service Department, provides personnel management services.
3) Real Estate Development Business, operated by a subsidiary, More Property Development Co., Ltd. (PROP)
4) Entertainment Business, operated by More Dann Entertain Co., Ltd. (MDE), a subsidiary appointed by More Return Public Company Limited as a representative in concert management, and has sought joint ventures for the Rolling Loud concert.
| 3M25 | 3M24 | 2024 | 2023 |
|---|
| Revenues | 23.98 | 24.16 | 105.39 | 82.04 |
| Expenses | 31.24 | 22.78 | 389.27 | 314.10 |
| Net Profit (Loss) | -9.05 | 5.53 | -180.87 | -137.67 |
| Assets | 965.70 | 1,451.52 | 977.73 | 1,485.84 |
| Liabilities | 74.47 | 83.59 | 74.48 | 100.14 |
| Shareholders' Equity | 1,014.47 | 1,437.23 | 1,027.33 | 1,455.95 |
| Operating | 1.68 | -42.59 | -97.96 | -14.67 |
| Investing | -8.00 | -33.66 | -119.06 | -454.29 |
| Financing | -0.04 | -0.09 | -3.94 |
| EPS (Baht) | 0.00 | -0.03 | -0.02 | |
| GP Margin (%) | 22.20 | 37.98 | -42.53 | 34.76 |
| NP Margin (%) | -34.25 | 26.85 | -279.61 | -278.34 |
| D/E Ratio (x) | 0.08 | 0.06 | 0.08 | 0.07 |
| ROE (%) | -15.94 | -8.21 | -14.57 | -8.32 |
| ROA (%) | -25.35 | -12.93 | -23.67 | -12.90 |
The company plans to expand into the health and beauty business as an OEM* or Original Equipment Manufacturer/ODM** or Original Design Manufacturer, which operates by contract manufacturing health and beauty products, including product design and marketing.
The company plans to raise capital to invest in the aforementioned business to increase opportunities and revenue streams, as well as to expand on its current businesses, namely, utilities, real estate, and entertainment.
However, since the fundraising plan did not go as planned, the company has postponed investments in the health and beauty business but continues to operate its existing businesses as usual.
The Company was sued by Thai NVDR Co., Ltd. (“NVDR”) on charges of Violation, revocation of shareholder meeting resolutions with a total of Important details as follows:
(1) Requesting the revocation of all resolutions of the defendant's 2025 Annual General Meeting of Shareholders held on April 18, 2025.
(2) Requesting the invalidation of the defendant's 2025 Annual General Meeting of Shareholders held on April 18, 2025.
(3) Prohibiting the defendant from using the resolutions of agenda items 7, 8, and 9 from the defendant's 2025 Annual General Meeting of Shareholders held on April 18, 2025, for registration with the Registrar of Public Limited Companies, Bangkok, Department of Business Development, Ministry of Commerce.
(4) Requesting the defendant to compensate the plaintiff for a total amount of 76,870,665.22 THB and to charge default interest at the rate of 5% per annum onwards until the defendant completes the payment to the plaintiff.
The company's main revenue comes from business operations, totaling 19.73 million baht, consisting of (1) revenue from the service sector, amounting to 0.62 million baht &(2) revenue from the utilities sector, amounting to 18.78 million baht (3) revenue from trading, amounting to 0.33 million baht, representing 3.14%, 95.19%, and 1.67%, respectively. Compared to the financial statements of the previous period, the company's total revenue from all sectors increased by 1.00 million baht or 5.34%, due to an increase in revenue from the utilities sector of 0.43 million baht or 2.34% from the subsidiary, which had an increase in water sales volume in the Koh Samet area compared to the previous period.
Cost of sales and total service costs for the period ending March 31, 2025, were 12.71 and 2.64 million baht, respectively. Compared to the financial statements of the previous period, the cost of sales increased by 1.27 million baht or 11.14%, consistent with the increased revenue from water sales in the Koh Samet area. Service costs increased by 2.46 million baht or 1,366.11% due to the company recently commencing operations of the Loud club project, resulting in increased service costs compared to the previous period.
Read details Management's Discussion and Analysis for the period ending March 31, 2025
| as of 31/03/25 | MORE | SERVICE | mai |
|---|---|---|---|
| P/E (X) | - | 54.71 | 37.47 |
| P/BV (X) | 0.21 | 1.51 | 1.22 |
| Dividend yield (%) | - | 3.60 | 3.80 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 215.30 | 143.53 | 717.67 |
| Price (B/Share) | 0.03 | 0.02 | 0.10 |
| P/E (X) | - | - | - |
| P/BV (X) | 0.21 | 0.11 | 0.88 |