CLARIFIES INVESTMENT REPORT IN CHINA
05 ตุลาคม 2537
Loxley Plc (LOXLEY) clarified a published report stating that the
company will invest Bt500 million to build 2 plants in China. The company
explained the details of its projects as follows:
Firstly, the mineral water production project in Yunan precinct,
China. The company said that it has negotitated with the Yunan government
to jointly invest to set up a plant to produce mineral water in Yunan.
The company expects to earn a satisfactory income from the investment
because a survey uncovered a continuously increasing demand for mineral
water among consumers in the south of China.
The budget for the project will not exceed Bt20 million. The company
or its subsidiaries will jointly hold shares amounting to no more than a
70% stake. The company is negotiating a draft agreement with the partners.
Secondly, the telecommunications equipment parts production project.
The company is negotiating the details of the project in principle with
the Yunan government. The conditions, investment and investment ratio have
not been concluded yet.
Thus, the company said the investment budget of Bt480 million stated
in the report is distorted.
This investment furthers the expansion of its business in China. The
company previously operated an import and export agency.
The company will report to the SET accordingly, if there are any
further developments.
Translated by the Nati