05 October 1994
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