Ready for a Business Leader in tapioca starch business – Starch related products in Asia
Thai Wah Public Company Limited or TWPC released that "Thai Wah Bio Power Limited or TWBP" a subsidiary company acquired 166,668 shares or 33.33% of "Tapioca Development Company Limited or TDC", a manufacturer and distributor of modified starch. The acquisition was made in accordance with expanding the proportion of income and profit derived from the High Value-Added products (High Value-Added) in the long term. In addition, Big Boss "Ho Ren Hua" is also focus on meeting consumer demands in order to be the leader in the tapioca starch and starch related business in Thailand and Asia.
Mr. Ho Ren Hua, Chief Executive Officer and director, Thai Wah Public Company Limited (TWPC), the manufacture and distribute tapioca starch products and starch-related products as well as a leader in food products, such as fresh and dry vermicelli noodle in Thailand, informed that Thai Wah Bio Power Limited (“TWBP”), a subsidiary company, acquired 166,668 ordinary shares, or equivalent to 33.33% of the total shares of Tapioca Development Corporation Limited (“TDC”), a manufacturer and distributor of modified starch from Tate & Lyle PLC. After TWBP had completed such acquisition transaction, TDC’s status was changed from an associated company to an indirect subsidiary of the Company.
The Company believes that TDC's business would help the Company expand the High Value-Added products to a wider range of business as well as increases the potential and encourage being a regional leadership of tapioca starch and starch related products.
“We entering into of the transaction to acquire the ordinary shares of Tapioca Development Corporation Limited (TDC) of 33.33% through a subsidiary company in accordance with support an increase in the Company’s revenues and profits in order to achieve sustainable growth in the long run. Hence, the Company directly and indirectly holds the shares equivalent to 67%. Besides, this is also in accordance with the Company's strategy on investment expansion plan by focusing on expanding the proportion of revenue and profit derived from the High Value-Added products in order to higher margin and lower fluctuating than native tapioca starch products. It also supports and benefits to a Company's core businesses at the present. The combination between a strong business and High Value-Added tapioca starch products will allow the company to expand its customer base and better meeting consumer demands. This will be another factor supporting the company's growth, committing to be a leader in tapioca starch and starch related products in Thailand and Asia, "said Mr. Ho Ren Hua.