Surapon Foods Public Company Limited Announces Investment in the Subsidiary Company for Production Facilities Expansion
July 20, 2021 at 03:50 pm IST
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Surapon Foods Public Company Limited announced that Board of Directors meeting, dated July 20, 2021 has unanimously resolved to approve investment in the Subsidiary Company; namely Surapon Supreme Foods Co. Ltd. (or "SUP"), which SSF hold the shares in SUP accounted for 99.9998% of total registered and paid-up capital. This investment transaction is to increase production capacity in frozen processed chicken products. Total value of investment is equal to THB 250,000,000 which is included construction expense and all production machines and equipment. The construction will be expected to complete around January 2023. Sources of fund for this investment of THB 250,000,000 will be long-term loan from financial institution valued THB 170,000,000 which SSF will guarantee the whole amount of this loan and long-term loan from SSF valued THB 80,000,000. While SSF utilizes its cash surplus to lend SUP. This transaction is not considered as the connected transaction and the maximum transaction size is equal to 6.38% based on total value of consideration paid or received criteria. Whereas, the maximum size of this transaction included all acquisition of assets transactions made during 6 months is equal to 9.07%. Therefore this transaction is exempted from being disclosed under the rule, procedure and notification regarding acquisition or disposal of assets of listed companies.
Surapon Foods Public Company Limited is a Thailand-based company engaged in the manufacturing and distribution of seafood, finished and semi-finished frozen foods, and cold storage warehouse and logistic services. The Companyâs business lines involve processed and ready-to-eat foods with a variety of recipes, such as boiled shrimp, sushi shrimp, fish, squid, dim sum, deep-fried food, and processed chicken. It also offers Halal products under the Farhana brand, which include dim sum and deep-fried food. The Company, through its subsidiary, Mobile Logistics Company Limited, provides cold chain logistics services, including purchase and supply, adjustable cold storage, storage, and distribution, as well as hand-to-hand delivery services with real-time traceable storage and distribution processes. Its subsidiaries also include Surapon Supreme Foods Company Limited, Surapon Finest Company Limited, Chantaburi Marine Farm Company Limited, and Surat Seafoods Company Limited.
SURAPON FOODS 
