TBN is raising funds to expand its market and enhance the potential of its personnel.
Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, stated that TBN believes in the effectiveness of MENDIX’s Low-Code Development Platform in software development, which drives digital transformation. With over 18 years of experience in MENDIX technology, TBN offers a wide range of services in both cloud technology and traditional development (High Code). TBN caters to the needs of organizations by providing tailored solutions. Currently, TBN operates a comprehensive digital system design and development business, serving as a consultant in digital transformation and developing solutions according to customer requirements using Low-Code software.
“We can use MENDIX to develop software at all levels. The strengths of Low-Code are its ease of learning and quality control system, which ensures developers meet the standard quality requirements. The objective of using Low-Code is to increase efficiency while utilizing fewer resources. The reason TBN wants to enter the stock market is due to the projected growth rate of Low-Code technology, which is expected to grow at an average annual rate of 25%. Meanwhile, the number of programmers worldwide is predicted to decline as organizations increasingly require digital transformation, resulting in a higher demand for applications. With fewer developers available, organizations seek technologies that can assist, and Low-Code is a suitable solution. Therefore, we want to make Thailand the Low-Code hub of Asia. Financially, it is projected that by 2025, 70% of global applications will be developed using Low-Code. Recently, TBN received the Top Mendix Partner in Asia Pacific and Top SaaS demand generated partner in Southeast Asia awards at the Siemens Converge Asia Pacific Executive Partner Forum 2023 (APEPF2023), confirming TBN’s success in the Thai market for Mendix Low Code.”
Mr. Panayu further stated that for future growth, TBN plans to offer 25 million shares, representing 25% of the total issued and fully paid-up common shares, after the completion of the current offering. The par value is set at 0.50 baht per share, and TBN aims to list on the Market for Alternative Investment (mai) to support its readiness and potential for growth in order to accommodate the increasing trend of digital transformation.
The funds raised from this offering will be used as working capital for business expansion, as well as to enhance competitiveness, such as investing in digital system development projects to support the growing trend of digital transformation, increasing the number of personnel, and developing systems and facilities to accommodate the growing number of projects and personnel. The funds will be utilized within the year 2025. With expertise in Low-Code, TBN currently has up to 150 developers. With the fundraising and business expansion plans, TBN aims to have a highly qualified workforce of 500-1,000 individuals who are ready to meet customer demands. This is a key factor in making Thailand a Low-Code Hub.