Sri Trang set for rubber trading in Myanmar
THAILAND'S Sri Trang Agro-Industry has established a rubber-trading joint venture in Myanmar with that country's trading giant Ayeyar Hinthar Holdings Co.
Kitichai Sincharoenkul, a director of Sri Trang, said in a filing to the Stock Exchange of Thailand and the Singapore Exchange (SGX) that Sri Trang Ayeyar Rubber Industry Co was expected to start operations next quarter.
The new company, established by wholly owned subsidiary Sri Trang International, will be registered with US$1 million in capital. While the Singapore-based subsidiary will hold a 59-per-cent stake in the joint venture, Kitichai will hold another 1 per cent while the remaining 40 per cent will be owned by Ayeyar Hinthar Holdings.
“The company will produce and sell block rubber and other rubber products and trade all rubber products in domestic and/or international markets,” he said.
Agreements on the joint venture and other relevant items were signed on Tuesday.
Sri Trang Agro-Industry is a fully integrated natural-rubber company with a market share of 9 per cent of global consumption. It offers a full range of natural rubber products with a total production capacity of 1.2 million tonnes per annum. It is the first and only Thai rubber company that is dually listed on both the SET and the SGX.
With five offices in Yangon, Nay Pyi Taw, Mandalay, Hinthada and Pyay, Ayeyar Hinthar Holdings is a major trader of agricultural products. In 2007-2008, Ayeyar Hinthar Group exported 50,000 tonnes of white rice to Bangladesh, Sri Lanka, and African countries.
