IRPC Public Company Limited (IRPC) has announced that the Board of Directors has approved IRPC to invest in Guangzhao Saiju Performance Polymer Ltd. (GZSJ) in the People’s Republic of China.
The investment will be the subscription of capital increased shares equivalent to 15% of total registered capital, in an amount of RMB 135,000,000 (equivalent to the estimated investment value of THB 650,000,000). IRPC will enter into the investment agreement and other related agreements within the fourth quarter of 2018.
GZSJ operates the e-commerce platform and focuses in variety of plastic products under the name “IPLAS” (https://www.isuwang.com and https://www.suwen8.com). Currently, GZSJ is the major operator of plastic product e-commerce business in China.
Moreover, the Board of Directors has also approved IRPC to incorporate the private limited liability company, “the subsidiary”, under the laws of Thailand with the registered capital amounting to THB 120,000,000 (or approximate USD 3,500,000 ), by which IRPC and GZSJ will hold the shares equivalent to 55% and 45% of total shares, respectively.
Such the subsidiary will be incorporated to develop the e-commerce platform focusing on plastic products in order to increase and expand its channels to capture and ensure the behaviour of consumers trends. In this regard, upon the execution of the investment agreement and other related agreements, GZSJ will proceed to obtain the approval on this jointly investment from the competent authority in the PRC.