SATURDAY, February 24, 2024

Srithai eyes shares in VN plastic plants

Srithai eyes shares in VN plastic plants

THE SRITHAI Superware Group is in talks to acquire major shares in two plastic-product factories in Vietnam.

The company’s chairman Sanan Angubolkul did not say when the deals might be wrapped up.
Srithai already has a plastic-products factory and a melamine-ware factory in Ho Chi Minh City.
A new plastic-products plant in Ho Chi Minh City will be built soon. The company has leased land for its construction.
It also has a plant in Hanoi.
Sanan said the company’s sales in Vietnam were expected to grow by 18 per cent this year. The Srithai group expects total sales growth of 8 per cent.
It set aside an investment budget of Bt900 million this year, of which Bt350 million will be spent on the expansion of the production capacities of plants overseas, and the rest will be spent on product-promotion activities.
In a separate matter, Sanan, who is head of the government’s private-sector team tasked with boosting exports and overseas investment projects, said the team had proposed setting up a Vietnam-Thai commercial centre in Ho Chi Minh City as part of an effort to expand the trade of major Thai companies and small and medium-size enterprises in Vietnam.

Bt10-bn centre
He said at least three Vietnamese investors had shown strong interest in joining Thai companies in setting up the Bt10-billion centre.
His team will act as the mediator for the negotiations between potential Vietnamese and Thai partners.
Srithai says the project needs the government to coordinate with the Vietnamese government to bring it to fruition.
Thai product imports by Vietnam expanded almost twofold to US$8.2 billion (Bt74 billion) in 2015 compared with 2009.
The average growth rate of retail sales in Vietnam has been in double digits over the last five years.
Modern trade accounts for only 18 per cent of the country’s total retail sales, suggesting huge growth potential.
As of December, there were 415 Thai investment projects in Vietnam with registered capital of $7.36 billion. The Kingdom is ranked No 11 in terms of investment in Vietnam.