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Indian truck and bus manufacturer Tata Motors will enter Australia with a new independent distributor, Fusion Automotive Australia.
Tata Motors will introduce its light commercial vehicles through the Melbourne-based Fusion Automotive, which plans to appoint 13 dealers across Australia by the end of the year, and 25 across the states of Victoria, New South Wales, Queensland, South Australia, and Western Australia in the next 12 months.
Thai Rubber Latex Corporation (Thailand) resolved yesterday to invest in Myanmar Thai Corporation Co Ltd, a new subsidiary with a registered capital of Bt80 million. Thai Rubber Latex will hold 64 per cent, amounting to Bt51.2 million, and Vantage Co, a Myanmar-based company, will hold 36 per cent, amounting to Bt28.8 million.
The subsidiary will manage rubber plantations ready for tapping, operate ribbed smoke-sheet factories, and concentrated latex factories in Myeik, Dawei. An objective of this investment is to support the upcoming Asean Economic Community.
Nawarat Patanakarn raised a total of Bt1.17 billion from the issue and allocation of shares in April and May.
The company utilised Bt199 million of the increased capital for investment in subsidiary companies, Bt648 million as working capital for construction projects, Bt76 million for the purchase of machinery, equipment, and vehicles, and Bt91 million for the repayment of debt to financial institutions.
Draco PCB raised Bt279.15 million from the issue and allocation of ordinary shares of the company to Chin-Poon Industrial Co via private placement.
Of this capital increase, Bt142.3 million was used for investment in new high-margin products and the remaining Bt136.9 million was for working capital during flood recovery.
