Thai Wah allots B2bn war chest to fuel growth

Thai Wah allots B2bn war chest to fuel growth

Mr Ho, second from left, says the company is currently in talks with prospective business partners in Thailand and overseas, with 2-3 deals currently under negotiation.
Mr Ho, second from left, says the company is currently in talks with prospective business partners in Thailand and overseas, with 2-3 deals currently under negotiation.

Thai Wah Plc, a starch and starch-based food company, plans to allocate 2 billion baht to boost its businesses through various projects, including mergers and acquisitions (M&As).

Half of the budget will support its M&A plans while the remainder will go to its core business development.

The company is currently in talks with prospective business partners in Thailand and overseas, with 2-3 deals currently under negotiation.

"Thai Wah is talking with an Indian company as it plans to invest in India with a high market potential for starch products and vast plantation areas for cassavas," said Ho Ren Hua, chief executive of Thai Wah.

Thai Wah will keep on expanding its investments through Thai Wah Ventures, which invests in start-ups and high-potential businesses, in order to support the company's agricultural product development and enhance the growth of its four main businesses.

Its core businesses are farm innovations and agricultural technology, data analysis for business-to-business supply chains, bioplastics and waste recycling, as well as new food ingredients and processing technologies.

This year, Thai Wah plans to introduce 8-10 new products and further invest in gluten-free food ingredients and food solutions.

Gluten-free products are a food alternative for allergic consumers. These products help them avoid symptoms caused by the allergy, including fatigue, headaches, abdominal pain, nausea and constipation.

The company has also developed bioplastic products, a type of biodegradable plastic made from biological raw materials, not petroleum.

"Thai Wah's business strategy focuses on sustainable businesses which also respond to consumers' demands," Mr Ho said.

Thai Wah expects its total 2022 revenue to reach more than 10 billion baht, thanks to a business strategy intended to boost income.

This year its total revenue is expected to grow by 15-20% year-on-year, up from 9.15 billion baht in 2021. The 2022 forecast is also a rise of 28% from revenue of 7.09 billion baht in 2020.

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