Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿9.30, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 11x in the Commercial Services industry in Thailand. Total returns to shareholders of 43% over the past three years. Upcoming Dividend • Apr 29
Upcoming dividend of ฿1.00 per share Eligible shareholders must have bought the stock before 06 May 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 8.8%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.9%). Declared Dividend • Mar 04
Dividend of ฿1.00 announced Dividend of ฿1.00 is the same as last year. Ex-date: 6th May 2026 Payment date: 26th May 2026 Dividend yield will be 8.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 72% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 03
Rockworth Public Company Limited announces Annual dividend, payable on May 26, 2026 Rockworth Public Company Limited announced Annual dividend of THB 1.0000 per share payable on May 26, 2026, ex-date on May 06, 2026 and record date on May 07, 2026. Tillkännagivande • Mar 02
Rockworth Public Company Limited, Annual General Meeting, Apr 27, 2026 Rockworth Public Company Limited, Annual General Meeting, Apr 27, 2026, at 10:00 SE Asia Standard Time. Location: at meeting room 1st floor, rockworth, head office no.294-300 asoke-dindaeng rd, huay kwang, bangkok Thailand New Risk • Mar 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 51% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (฿224.0m market cap, or US$7.21m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: ฿3.01 (vs ฿2.29 in FY 2024) Full year 2025 results: EPS: ฿3.01 (up from ฿2.29 in FY 2024). Revenue: ฿837.8m (up 13% from FY 2024). Net income: ฿60.2m (up 32% from FY 2024). Profit margin: 7.2% (up from 6.2% in FY 2024). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 27
Now 21% undervalued Over the last 90 days, the stock has risen 4.7% to ฿11.20. The fair value is estimated to be ฿14.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ฿12.40, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 11x in the Commercial Services industry in Thailand. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿9.50, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 9x in the Commercial Services industry in Thailand. Total returns to shareholders of 33% over the past three years. Buy Or Sell Opportunity • Dec 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to ฿9.85. The fair value is estimated to be ฿12.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿11.80, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 10x in the Commercial Services industry in Thailand. Total returns to shareholders of 67% over the past three years. Buy Or Sell Opportunity • Nov 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to ฿9.80. The fair value is estimated to be ฿12.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ฿0.42 (vs ฿0.41 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.42 (up from ฿0.41 in 3Q 2024). Revenue: ฿170.0m (up 7.6% from 3Q 2024). Net income: ฿8.50m (up 3.5% from 3Q 2024). Profit margin: 5.0% (down from 5.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ฿12.50, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 11x in the Commercial Services industry in Thailand. Total returns to shareholders of 73% over the past three years. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.65 (vs ฿0.072 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.65 (up from ฿0.072 in 2Q 2024). Revenue: ฿221.8m (up 58% from 2Q 2024). Net income: ฿13.0m (up ฿11.6m from 2Q 2024). Profit margin: 5.9% (up from 1.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿10.60, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 10x in the Commercial Services industry in Thailand. Total returns to shareholders of 27% over the past three years. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Manoon Sunkunakorn was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2025 earnings released: ฿0.38 loss per share (vs ฿0.11 profit in 1Q 2024) First quarter 2025 results: ฿0.38 loss per share (down from ฿0.11 profit in 1Q 2024). Revenue: ฿141.1m (down 6.9% from 1Q 2024). Net loss: ฿7.66m (down 443% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of ฿1.00 per share Eligible shareholders must have bought the stock before 06 May 2025. Payment date: 26 May 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 7.9%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (4.2%). Tillkännagivande • Apr 28
Rockworth Public Company Limited Announces Board Retirements Rockworth Public Company Limited announced resolutions made at the shareholders' ordinary meeting held on 28 April 2025. The details of resolution is as follows; retirement of Chatchawal Pongsuthimanus and Dusdee Pongsuthimanus as board members. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ฿15.00, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 13x in the Commercial Services industry in Thailand. Total returns to shareholders of 79% over the past three years. Declared Dividend • Mar 06
Dividend increased to ฿1.00 Dividend of ฿1.00 is 100% higher than last year. Ex-date: 6th May 2025 Payment date: 26th May 2025 Dividend yield will be 8.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 9 years ago. However, payments have been volatile during that time. Earnings per share has grown by 45% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 04
Rockworth Public Company Limited, Annual General Meeting, Apr 28, 2025 Rockworth Public Company Limited, Annual General Meeting, Apr 28, 2025, at 10:00 SE Asia Standard Time. Location: at meeting room 1st floor, rockworth head office no., 294-300 asoke-dindaeng rd, huay kwang, bangkok Thailand Tillkännagivande • Mar 03
Rockworth Public Company Limited Recommends Cash Dividend for the Operating Period from 1 January 2024 to 31 December 2024, Payable on 26 May 2025 Rockworth Public Company Limited recommended shareholders to cash dividend payment for the operating period from 1 January 2024 to 31 December 2024 at the rate of THB 1.00 per share for Common shareholders. The names of Shareholders who are entitled to receive dividends for the performance results of the fiscal year 2024 will be fixed on 7 May 2025 (Record Date). Payment date is 26 May 2025. Ex-dividend date 06 May 2025. Reported Earnings • Feb 25
Full year 2024 earnings released: EPS: ฿2.29 (vs ฿1.03 in FY 2023) Full year 2024 results: EPS: ฿2.29 (up from ฿1.03 in FY 2023). Revenue: ฿743.4m (up 17% from FY 2023). Net income: ฿45.7m (up 122% from FY 2023). Profit margin: 6.2% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ฿12.80, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 12x in the Commercial Services industry in Thailand. Total returns to shareholders of 39% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: ฿0.41 (vs ฿0.051 loss in 3Q 2023) Third quarter 2024 results: EPS: ฿0.41 (up from ฿0.051 loss in 3Q 2023). Revenue: ฿161.3m (up 26% from 3Q 2023). Net income: ฿8.21m (up ฿9.22m from 3Q 2023). Profit margin: 5.1% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ฿11.90, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 16x in the Commercial Services industry in Thailand. Total loss to shareholders of 21% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.07 (vs ฿0.17 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.07 (down from ฿0.17 in 2Q 2023). Revenue: ฿143.6m (up 4.0% from 2Q 2023). Net income: ฿1.43m (down 57% from 2Q 2023). Profit margin: 1.0% (down from 2.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 06
Now 29% overvalued Over the last 90 days, the stock has fallen 18% to ฿10.90. The fair value is estimated to be ฿8.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿15.00, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 14x in the Commercial Services industry in Thailand. Total returns to shareholders of 37% over the past three years. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.016 in 1Q 2023) First quarter 2024 results: EPS: ฿0.11 (up from ฿0.016 in 1Q 2023). Revenue: ฿153.7m (up 16% from 1Q 2023). Net income: ฿2.23m (up ฿1.91m from 1Q 2023). Profit margin: 1.5% (up from 0.2% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.50 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 24 May 2024. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ฿13.30, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 21x in the Commercial Services industry in Thailand. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿10.50, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 22x in the Commercial Services industry in Thailand. Total returns to shareholders of 13% over the past three years. Tillkännagivande • Mar 16
Rockworth Public Company Limited Proposes Dividend for the Year 2023, Payable on 24 May 2024 Rockworth Public Company Limited at its board meeting held on 4 March 2024, approved to propose at its AGM to be held on 29 April 2024, dividend payment for the year 2023 at the rate of THB 0.50 per share in total amount of THB 10 million. The names of Shareholders who are entitled to receive dividends for the performance results of the fiscal year 2023 will be fixed on 7 May 2024 (Record Date), which the Company will pay dividends within 24 May 2024. Ex-dividend date is 3 May 2024. Buy Or Sell Opportunity • Mar 14
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to ฿9.65. The fair value is estimated to be ฿7.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. Tillkännagivande • Mar 05
Rockworth Public Company Limited, Annual General Meeting, Apr 29, 2024 Rockworth Public Company Limited, Annual General Meeting, Apr 29, 2024, at 14:00 SE Asia Standard Time. Location: Meeting Room 1st floor, Rockworth Head Office No.294-300 Asoke-Dindang Rd, Huaykwang Bangkok Thailand Agenda: To certify the minutes of ordinary shareholders' meeting for the year 2023; To approve the company's operations and directors' report for the year 2023; To approve the financial statement for the year 2023 ending 31 December 2023; To consider to Dividend payment for the year 2023; and other related matters. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿1.03 (vs ฿0.60 loss in FY 2022) Full year 2023 results: EPS: ฿1.03 (up from ฿0.60 loss in FY 2022). Revenue: ฿650.9m (up 6.8% from FY 2022). Net income: ฿20.6m (up ฿32.6m from FY 2022). Profit margin: 3.2% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Feb 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Manoon Sunkunakorn was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Third quarter 2023 earnings released: ฿0.05 loss per share (vs ฿0.18 profit in 3Q 2022) Third quarter 2023 results: ฿0.05 loss per share (down from ฿0.18 profit in 3Q 2022). Revenue: ฿130.8m (down 18% from 3Q 2022). Net loss: ฿1.02m (down 129% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ฿9.50, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 20x in the Commercial Services industry in Thailand. Total loss to shareholders of 7.8% over the past three years. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.17 (vs ฿0.53 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.17 (up from ฿0.53 loss in 2Q 2022). Revenue: ฿141.4m (up 13% from 2Q 2022). Net income: ฿3.37m (up ฿14.0m from 2Q 2022). Profit margin: 2.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: ฿0.18 (vs ฿1.03 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.18 (up from ฿1.03 loss in 3Q 2021). Revenue: ฿162.2m (up 102% from 3Q 2021). Net income: ฿3.52m (up ฿24.2m from 3Q 2021). Profit margin: 2.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Reported Earnings • May 12
First quarter 2022 earnings released: ฿0.27 loss per share (vs ฿1.35 loss in 1Q 2021) First quarter 2022 results: ฿0.27 loss per share (up from ฿1.35 loss in 1Q 2021). Revenue: ฿144.2m (up 132% from 1Q 2021). Net loss: ฿5.31m (loss narrowed 80% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Manoon Sunkunakorn was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Mar 04
Rockworth Public Company Limited, Annual General Meeting, Apr 29, 2022 Rockworth Public Company Limited, Annual General Meeting, Apr 29, 2022, at 03:00 Coordinated Universal Time. Location: Rockworth Head Office 1st floor No.294-300 Asoke-Dindang Rd, Huaykwang Bangkok Thailand Agenda: To certify the minutes of ordinary shareholders' meeting for the year 2021; to approve the company's operations and directors' report for the year 2021; to approve the financial statement for the year 2021 ending 31 December 2021; to consider to Dividend omission for the year 2021; to appointment of directors in place of those retired in this year; to appoint and determination of remuneration of the Directors and the Audit Committee for the year 2022; to appoint to EY Company Limited as auditor for the year 2022;to consider and approve the amendment of Clause 3 of the Company's Memorandum of Association, the Company's objectives;and to consider other maters ( if any). Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿3.24 loss per share (down from ฿1.56 loss in FY 2020). Revenue: ฿388.5m (down 22% from FY 2020). Net loss: ฿64.9m (loss widened 108% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Board Change • Nov 25
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Manoon Sunkunakorn was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2021 earnings released: ฿1.03 loss per share (vs ฿0.73 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ฿81.5m (down 17% from 3Q 2020). Net loss: ฿20.6m (loss widened 40% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 10
Second quarter 2021 earnings released: ฿0.68 loss per share (vs ฿0.30 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿102.6m (down 26% from 2Q 2020). Net loss: ฿13.6m (loss widened 129% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 04
Rockworth Public Company Limited, Annual General Meeting, Apr 30, 2021 Rockworth Public Company Limited, Annual General Meeting, Apr 30, 2021, at 03:00 Coordinated Universal Time. Location: . at Rockworth Head Office 1st floor No.294-300 Asoke-Dindang Rd Huaykwang Thailand Agenda: To certify the minutes of ordinary shareholders' meeting for the year 2020; to approve the company's operations and directors' report for the year 2020; to approve the financial statement for the year 2020 ending 31 December 2020; to consider to Dividend omission for the year 2020; to appointment of directors in place of those retired in this year; to appoint and determination of remuneration of the Directors and the Audit Committee for the year 2021; to appoint to EY Company Limited as auditor for the year 2021; and to consider other maters ( if any). Tillkännagivande • Dec 15
Suthisa Pongsuthimanus, Director of Norme IDM Co. Ltd., agreed to acquire additional 15% stake in Norme IDM Co. Ltd. from Rockworth Public Company Limited (SET:ROCK) for THB 2.3 million. Suthisa Pongsuthimanus, Director of Norme IDM Co. Ltd., agreed to acquire additional 15% stake in Norme IDM Co. Ltd. from Rockworth Public Company Limited (SET:ROCK) for THB 2.3 million on December 14, 2020. Under the terms, Suthisa will acquire 15,000 ordinary shares of Norme IDM at THB 153 per share in cash. Post completion, Suthisa will hold 29% stake and Rockworth will not hold shares in Norme IDM. For the quarter ended on September 30, 2020, Norme IDM reported total assets of THB 89.8 million, total liabilities of THB 54.6 million and shareholders' equity of THB 35.2 million. And for the year ended December 31, 2019, Norme IDM reported total assets of THB 91.1 million, total liabilities of THB 61.1 million, shareholders' equity of THB 30.1 million, net income of THB 129.9 million and net profit of THB 10.2 million. Phumphat Pongsuthimanus, Atissanan Pongsuthimanus, Narit Pongsuthimanus and Suthisa Pongsuthimanus, the Board of Directors of Norme IDM, will continue to be Directors after the completion of transaction. The Board of Directors of Rockworth approved this transaction on December 14, 2020. This transaction is expected close within December 2020. Reported Earnings • Nov 10
Third quarter 2020 earnings released: ฿0.74 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: ฿100.2m (down 34% from 3Q 2019). Net loss: ฿14.7m (loss widened ฿13.5m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. 
