Bangkok--Jan 27--124 Communications
Oishi Group clears the way for 2 giant partners as well as Mr. Chareon Siriwattanapakdee to possess 55-percent shares. None of this is involved with Thai Beverage. The new partners are expected to ensure Oishi’s bright business future.
As a financial advisor of Oishi Group’s new partners, Dr. Udomsak Chakreeyawanich, Managing Director of Asia Plus Securities Plc., unveils that Mr. Tan Passakornnatee has sold a total of 103,125,000 shares, accounting for 55% of all Oishi shares, from previous shareholders to 2 new partners; Nakorncheun Co. Ltd. and Bengena International Ltd. at 32.50 baht per share. The transaction is valued 3,352 million baht in total.
“Earlier in the morning, Nakorncheun Co. Ltd. and Bengena International Ltd. participated in the contract-signing ceremony, dealing to purchase 55-percent Oishi shares from Mr.Tan. Both companies will together strike up partnership in the tender offer of all shares, as stated by the Securities and Exchange Commission, at 32.50 baht per share. After the tender offer anticipated to occur in February and March 2006, Oishi Group continues to maintain being a registered company in the Stock Exchange of Thailand. Asia Plus strongly believes that the existence of these 2 new partners will lead to more competitiveness of Oishi Group”, adds Dr. Udomsak.
He explains how the deal is generated that “This deal starts when Asia Plus invited Hong Kong’s famous investor and lawyer Mr. Ma Wah Yan, who expresses interest in investing in Oishi Group. And Mr. Ma Wah Yan and Mr.Tan then co-signed a MOU contract in December 14, 2005. With several talks with many investors, Mr. Ma Wah Yan was recommended to meet with Mr. Chareon Siriwattanapakdee, who also has interests in Oishi Group, on January 6, 2006. The talks resulted in Nakorncheun Co. Ltd. and Mr. Ma Wah Yan’s own company Bengena International Ltd. deciding to hold Oishi Group shares.”
He furthers that “Anyhow, in holding Oishi Group shares, the reason why Mr. Chareon does not invest on Thai Beverage’s behalf is that Thai Beverage is in the process of submitting a SET-listed approval. Any further investments of Thai Beverage will only delay the listing date of the company.”
Bengena International Ltd. is a registered investment company, established by British Virgin Islands on November 22, 2005 under the USD50,000 registered capital. The major shareholder is Mr. Ma Wah Yan, who is also positioned as the company’s sole board of director, holding the whole shares.
Representing Nakorncheun Co. Ltd., Thanit Thamsukati adds that Nakorncheun realizes the potential of Oishi Group as the leader in green tea and restaurant businesses with a high growth potential. The board of Oishi Group reported in the morning that the 5 previous committees have already resigned from their positions in Oishi Group. Thus, those vacant positions have been filled with the 5 new committees, namely Mr. Narong Srisa-an, Mr. Thapana Siriwattanapakdee, Mr. Sittichai Chaikriangkrai, Mr. Auychai Tanta-opas and Mr. Pissanu Wichainsan.
Mr. Narong Srisa-an leads the troop as Oishi Group’s president, taking responsible for future business direction of the company.
With a registered and paid-up capital of 5 billion baht, Nakornchuen Co. Ltd. was founded on January 4, 2000. The major shareholders include Wattanapat Trading Co. Ltd. with 75% shares and T.C.C. Land Co. Ltd. with 25% shares. The lists of the company’s board of committees are Mr. Chareon Siriwattanapakdee, Khunying Wanna Siriwattanapakdee, Mr. Narong Srisa-an, Mr. Teerasak Nateekarnjalab, Mr. Sittichai Chaikriangkrai, Ms. Atinan Siriwattanapakdee, Mr. Thapana Siriwattanapakdee and Mr. Panot Siriwattanapakdee.
Mr. Tan Passakornnatee reveals on this co-investment plan with partners that “Oishi Group has welcomed investments from both local and foreign partners all along. After being listed in the SET, a number of talks between Oishi Group and many other business partners have been made. The company, ultimately, decides to join forces with Mr. Ma Wah Yan and Nakorncheun Co. Ltd. as its new partners.”
The increase of share holding of both new partners lowers shares possessed by the group of Mr. Tan Passakornnatee to 10.67%. But both partners wish Mr. Tan Passakornnatee to continue managing Oishi Group business together with executives of both partners under a new set of policies. “I decisively insist that I would put all of my effort in pushing forward the business of Oishi Group and I have a strong belief that the new partners will drive Oishi Group business towards the bright future.” Says Mr. Tan.
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