Thai Wah Public Company Limited informed that the Board of Director's Meeting No. 4/2021, held on November 12, 2021, passed a resolution to establish a new subsidiary in Thailand (the name of which shall be informed accordingly) with a registered capital of THB 100,000,000. The main objective would be to invest in food and technology businesses related to the Company's core business in various areas, including but not limited to farm technology, food processing and bioplastics. The Company shall hold 100% of the total shares and the source of investment shall come from the Company's working capital. The Company expects to complete the registration of a new subsidiary within the first quarter of 2022.