Thai Central Chemical Public Company Limited has significant change and development as below.
In 2016, the Company has significant development as follows.
Establishment of Thai Central Chemical Public Company Limited (Yangon Branch)
At the Board of Directors’ Meeting No. 3/2016 which was held on 13 May 2016, the Board of Directors approved the establishment of Thai Central Chemical Public Company Limited (Yangon Branch), Myanmar, with the objective to support the market expansion of chemical fertilizers in Myanmar. The Yangon Branch’s main operation is marketing and research and development on the market in Myanmar. The Yangon branch was officially started to operate on 1 August 2016.
Establishment of TCCC Myanmar Limited
To increase the flexibility in business operation of chemical fertilizers in Myanmar, the Board of Directors’ Meeting No. 6/2016 held on 14 September 2016 has approved the establishment of TCCC Myanmar Limited which is the Company’s subsidiary with the objective to fully operate the chemical fertilizer business in Myanmar as the following details.
|Company Name||:||TCCC Myanmar Limited|
|Type of Business||:||Distribution of chemical fertilizers in Myanmar|
|Date of Establishment||:||3 October 2016|
|Number of Share||:||125,000 Shares; USD 100 per share|
|Shareholder Structure||:||The Company holds 99.99% share|
The Company has disclosed information of this investment to SET already. However, the size of the investment in the subsidiary was not under the criteria specified in the Notification of the Capital Market Advisory Board No. Tor Chor. 20/2551 re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets, and the Notification of the Board of Governors of the Stock Exchange of Thailand re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets B.E. 2547.
In 2015, the Company has significant development as follows.
Disposal of subsidiaries’ ordinary shares
On 1 April 2015, under the resolution of Board of Directors’ Meeting held on 25 February 2015, the Company disposed investment in the ordinary shares that the Company holds in the three subsidiaries: MC Industrial Chemical Company Limited (“MCIC”), MC Solvents Company Limited (“MCS”) and MC Plastics Company Limited (“MCP”) to the two juristic persons in the total consideration of THB 240,000,000. As a result of this transaction, the Company was no longer the shareholder of MCIC, MCS and MCP and indirectly disposed the investment in Central Pacific (Thailand) Co., Ltd. and Metro Tan Company Limited which was held by MCIC. However, the Company still have 49.0000% direct holding in Central Pacific (Thailand) Co., Ltd. The reason of disposal was that the businesses of MCIC, MCS and MCP were different and lack of synergy from the Company’s core business. Thus, the management and the board decided to dispose the subsidiaries’ ordinary shares. In addition, such ordinary shares disposal allowed the Company to focus more on its own core business, and it is advantageous in term of reducing unnecessary administrative expenses of the Company.
The disposal of subsidiaries’ ordinary shares was considered as a disposal of the company’s asset. In this regard, the Company had already disclosed the information to SET in compliance with the related rules and regulations.
Best Public Companies Award in the Industry of Industrial Products
The Company has been awarded as the Best Public Company for the year 2015 in the industry sector by Money & Banking Magazine. The award is business analysis of the listed companies in SET which have the highest Market Capitalization in 300 ranking and 81 listed companies in MAI which show profitable performance by using the SET’s information as of the end of 2014. The award is determined by three factors: size of the firm, ratio of profitability, and return of investment.
ISO 14001 : 2004 Standards
In 2015, the Company’s NKL Plant was certified ISO 14001 : 2004 Standards (Environmental Management System) which is most trusted by organizations worldwide for managing resources and environment as well as developing business in the mean time. The Standards mainly emphasized on polluted prevention and green environment in order to reducing any environmental affects including reduction of production costs.