KUALA LUMPUR, May 23 (Bernama) -- Thai Wah Public Company Limited (TWPC), a listed company in Thailand has acquired Japan Corn Starch’s (JCS) 33.3 per cent shares in Tapioca Development Corporation Limited (TDC).
According to a statement, JCS has completed the transfer of all its shares in TDC to Thai Wah Bio Power Limited (TWBP), a subsidiary company of TWPC, effective April 24.
After the transaction, JCS will continue to maintain its tapioca business through its own network nurtured in Thailand and other countries in South East Asia, as well as expand its starch business, including distribution of highly sophisticated modified starch products.
The acquisition enables TWPC to potentially relocate the factory located in Pattaya Beach, Thailand, based on the expiry of the original lease agreement entered into about 30 years ago.
-- BERNAMA
-- BERNAMA
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