Mr. David Van Dau, Chief Executive Officer of PSG Corporation Public Company Limited (mai: PSGC), disclosed that one of PSGC’s key strategies driving its organizational transformation is the acquisition of a majority stake in Nam Tien Limited Liability Company (NT), a Vietnamese company established in 2006 with more than 20 years of experience in the energy resources supply chain business.
PSGC now holds a 64% stake in NT, valued at $23 million (approximately THB 750 million), with the transaction completed on 12 February 2026. NT’s financial performance has been consolidated into the PSGC Group’s accounts starting from the first quarter of 2026.
NT operates an integrated energy resources supply chain, encompassing the management of the Xekong Power Plant Limited (XPPL) mine in Lao PDR. This mine is the largest coal concession in the country, with coal reserves of over 600 million tonnes. Through a cross-border logistics network, NT delivers coal to end-users within Vietnam, operating under a government-to-government (G2G) cooperation framework between Vietnam and Lao PDR that ensures the long-term security of trade routes.
NT holds long-term contracts with major Vietnamese state-owned energy enterprises, such as Vinacomin (TKV), PetroVietnam Power Fuel (PVPF), and Dong Bac, and aims to supply 4 million tonnes of coal in 2026, with the potential to expand to 10 million tonnes annually in subsequent years. Over the past five months, NT has successfully delivered coal as planned and is confident in meeting its 2026 delivery targets.
According to Mr. David, NT is a crucial growth driver for PSGC’s transition from an integrated construction business to a genuine regional energy supply chain operator. Beyond investment, PSGC now has direct access to XPPL’s substantial coal reserves in Lao PDR and enjoys stable trade routes under the long-term G2G framework between Lao PDR and Vietnam.
Additionally, long-term contracts with major Vietnamese energy state enterprises will transform PSGC’s revenue structure from project-dependent, unpredictable income to predictable recurring income from energy supply. Vietnam’s continually growing energy demand affirms that coal will remain a vital “energy bridge” during this transition period.
NT is therefore expected to be the main engine propelling PSGC towards more than THB 10 billion in annual revenue in 2026 and THB 20 billion per year by 2035. Following the acquisition of NT as a subsidiary, PSGC has begun implementing efficiency improvements in production and transportation to ensure that coal deliveries remain on schedule for 2026 and beyond.
Furthermore, this proactive strategy has yielded clear and positive results for PSGC’s financial statements from the outset. In the first quarter of 2026, PSGC recorded its highest-ever total revenue of THB 2.6 billion, representing growth of 304% year-on-year. Coal sales accounted for 64% of total revenue, and net profit reached THB 267.4 million, up 171%. These achievements underscore that NT is not merely a strategic investment but an effective revenue-generating mechanism with immediate impact.
As PSGC advances its ambitions in the regional energy sector, it has also received external validation for good governance. Most recently, the Thaipat Institute announced the results of its assessment of the sustainability data of 931 Thai listed securities, selecting PSGC for inclusion in the “ESG Emerging List.”
PSGC was also included in the ESG100 Universe for 2026, marking the first time the company was recognized for its disclosures in environmental, social, and governance (ESG) dimensions. This demonstrates that PSGC’s growth is built on a foundation of transparency and good governance.
