DITTO Plans to Raise Funds for Blue Carbon Benefit and Expands Investment Portfolio in 2024

Mr. Takorn Rattanakamolporn, Chief Executive Officer of Ditto (Thailand) Co., Ltd. (SET: DITTO), revealed during a seminar at the Stock Exchange of Thailand for the first quarter of 2024 that the company intends to raise capital to fund for mangrove reforestation to benefit from Blue Carbon credits. This initiative involves issuing digital tokens for investment to major investors and institutions, while retail investors will be able to participate through brokers. The token should be available in the third or fourth quarter of 2024. The company anticipated the value of this initiative to be around 300-400 million baht.

The company aims to utilize the raised funds for mangrove reforestation to leverage Carbon Credit benefits, acknowledging that issuing digital tokens for investment can be a suitable fundraising tool for projects related to mangrove reforestation for Carbon Credit benefits.

Regarding the financial outlook, in the first quarter of 2024, DITTO is poised to start realizing profits from investments in NETBAY Co., Ltd. (SET: NETBAY), with DITTO holding approximately 24.90% of shareholding. NETBAY is a major e-Logistics service provider in Thailand, known for its expertise in various e-service platforms and data integration systems.

Moreover, DITTO, specialized in data storage, has been advancing its product offerings by partnering with various platform service providers to enhance its services for both public and private clients. The company is also investing in Somapa Information Technology Public Co., Ltd. (SIT), wherein DITTO has acquired an 18% stake. SIT has secured a contract from the Airports of Thailand Public Co,. Ltd. (SET: AOT) to manage passenger screening systems for both inbound and outbound flights at AOT’s six airports, with revenues generated from passenger traffic.

With a current backlog valued at approximately 5,000 million baht, DITTO anticipates growth prospects for the next three years. The company expects a similar revenue trend in terms of backlog and additional revenue from new projects. This growth outlook aligns with the government’s Digital Transformation policy, fostering increased competitiveness and digital advancements across various sectors.

The investments and expansions outlined by DITTO demonstrate a strategic approach towards diversification, investment in sustainability initiatives, and partnerships for business growth and technological enhancements.