Company History


The family of Taweesaengsakulthai (or CHO Thavee group) by Mr. Cho Taweesaengsakulthai and Ms. Usa Taweesaengsakulthai was the founder of the transportation trucks in KhonKaen province. He was also the founder of the truck dealer since year 1968. He, then, has expanded to the business of manufacturing and assembling bus body. In 1980, he has expanded to the manufacturing and assembling of the body of trailer, semi-trailer, and various kinds of transport truck. Cho Thavee group has continuously developed the technology of trailer and commercial trucks. With the neat in designing of the body in various kinds suitably with the customer’s truck chassis in order to produce the strength and the durable truck body to meet with types of transportation work using under every kind of road condition and weather condition.

In the second generation of Cho Thavee group leading by Mr. Suradech Taweesaengsakulthai, a son of Mr. Cho Taweesaengsakulthaiand Ms. Usa Taweesaengsakulthai. They graduated in field of automobile engineering and business administration from Japan, viewing to the trend of demand in large logistics system by the large special trailer. He also viewed to the important of the innovation in assembling the truck body, which rely on the leading technology from abroad, will be increased in the industry of trailer, semi-trailer in the future. He, then, decided to

Establish Cho Thavee Dollasien Co., Ltd. (“The company” or “CHO”) on November 18,1994 by joining the family company namely Khonkaen Cho Thavee (1993) Co.,Ltd.

(“CTV-1993”) with the leading manufacturer company of truck body and trailer from Germany namely Doll Fahrzeugbau AG (“DOLL”), in order to do the business of designing, manufacturing, assembling the body, and installing of engineering system pertaining to the truck body, the trailer and the truck for commercial. The registered capital was 10 million Baht, 74% of these to be held by the group of Thai shareholders and CTV-1993, and the rest of 26% to be held by DOLL.

CTV-1993 (formerly called “Cho Ruamthavee industry Co.,Ltd.” and has been changed later on May 28, 1993). DOLL (previously called Emil Doll Gmbh) who has the experience for long time in manufacturing and assembling of the truck body for commercial with the engineering development. Detail as follow:

CTV-1993 started the business of manufacturing and assembling of the truck body, the bus body, and has developed the technology in logistics in Thailand since 1990. At the present, CTV-1993 do not do the business of manufacturing and assembling the truck body. Instead, CTV-1993 altering to do the business of selling the front part of the truck, all kinds of truck and offering the services of the truck hire purchasing.

DOLL started the business of manufacturing and assembling of the truck body and special types of trailer since 1922(after World War I). DOLL has the competency in manufacturing special trailer for loading materials with heavy weights and in large sizes, also with the materials with special length, by using the modern technology. In 2014, DOLL has changed its management team to be CMP financial group, so it focused on sales more than product developments. In 2016, the contract between CHO and DOLL expired with no contract renewal. Since then, CHO cooperate with business partners with the technology owner through MOU signing with companies that can make a technology transfer for CHO, for instance; Faymonville Company Limited, a Belgium company ranked the top three sale volume of the world, which has various trucks manufacturing technology: Siemens AG, a Germany company who has expertise in the electrical engineering and the world-class automation technology.

In addition, the company has joined with the French business man in 2005 in establishing Cho Thavee Thermotech Co., Ltd. (“CTV-TMT”) with registered capital of 10 million Baht. CHO held in a portion of 80% of registered capital, and the French business man held in portion of 20% of registered capital. This company has the purpose of doing business in designing, manufacturing, assembling, and installing of the fiber glass fresh box for truck with light weight for using in the transportation of merchandises, fresh foods and dried foods. In order to maintain the quality of the products until the destinations, also with the physical shape and the temperature of the products to be kept in the same condition as prior to the transportation. At the present, CTV-TMT has its registered capital and paid-up capital of 20.00 million Baht. CHO held the shares in CTV-TMT for 99.99% of the registered capital.

The company has changed its shareholders group structure. Mr. Suradech Taweesaengsakulthai, founder of the company and currently the executive director and management, has invested in the company’s common stocks wholly of CTV-1993 since 2002. At the present, the company’s shareholders structure held by the group of Taweesaengsakulthai as major shareholder with the portion of 93.18% of registered capital prior to the initial public offering (“IPO”) during May 2-7, 2013. The company has raised its registered capital and called for the additional paid-up capital for 50 million Baht, and the company’s common stocks have been registered in the market of alternative investment (mai). The Company, later, has issued warrants to its existing shareholders without value on October 28, 2013 amounting to 360 million units, with the book closure date on December 27, 2013. (There were 8 exercises of the company’s stock warrants CHO-W1 with the total stock warrants exercised of 355,575,489 units, or equaling to 98.77% of the total warrants sold.)

On January 9, 2018 the Extraordinary General Meeting resolved the company to allocate newly-issued ordinary shares for a specific objective, offered to a specific investor (Private Placement) which is Macquarie Bank Limited, in an amount of not exceeding 185,000,000 newly-issued ordinary shares, at the par value of 0.25 Baht per share. The Macquarie Bank Limited has reserved ordinary shares for 4 times until December 31, 2018 totaling 26,000,000 shares, remaining 159,000,000 shares reached 1 year due on January 8, 2019.

On April 23, 2018 the Board of Directors’ Meeting resolved to allocate newly-issued ordinary shares under the General Mandate basis, offered to a specific investor (Private Placement) of not exceeding 118,294,177 newly-issued ordinary shares (not over 10 percent of the paid-up capital as of the date of resolution), and/or offered to a specific investor of not exceeding 354,882,531 newly- issued ordinary shares (not over 30 percent of the paid-up capital as of the date of resolution) allocated to Mr. Marat Sae-lim of 69,944,744 newly-issued ordinary shares, and allocated to Mr. Papinwit Cherngchavano of 30,000,000 newly-issued ordinary shares, totaling 2 persons in an amount of 99,944,744 newly-issued ordinary shares. As of December 31, 2018, CHO has its registered capital of 460,279,620.25 Baht, with a paid-up capital of 327,221,629.25 Baht at 0.25 Baht par value per share.

In the past three years, the history and major developments of the company and its subsidiary can be summarized as follows: