THAI WAH PUBLIC COMPANY LIMITED (TWPC) INVESTOR STOR PRESENT SENTAT ATION N 2016 2016 “ TO BE A REGIONAL LEADER IN STARCH AND STARCH- RELATED FOOD PRODUCTS”
THAI WAH PUBLIC COMPANY LIMITED (TWPC) INVESTOR STOR PRESENT SENTAT ATION N 2016 2016 “ TO BE A REGIONAL LEADER IN STARCH AND STARCH- RELATED FOOD PRODUCTS”
DISCLAIMERS “ DISCLAIMERS : THIS REPORT HAS BEEN PREPARED BY THAI WAH PUBLIC COMPANY LIMITED (TWPC) PRELIMINARILY AS A PROPOSAL FOR INFORMATION PURPOSES ONLY ” This information is given in summary form and does not purport to be complete. Information is this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities and financial product or instrument transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transaction, currency risk. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to TWPC’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements, TWPC does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside TWPC’s control. Past performance is not a reliable of future performance. This Presentation is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly to any other person or published, in whole or in part, for any purpose. No part of this presentation may be reproduced or taken or transmitted. The distribution of this presentation in other jurisdictions may be restricted by law, and persons into whose possession this presentation comes should inform themselves about, and such restrictions. By accepting this presentation you agree to be bound by the foregoing restrictions. Private for Investor Forum 2
AGENDA Business Highlights Company Factsheet Business Overview Financial Performance Q&A Private for Investor Forum 3
BUSINESS HIGHLIGHTS IN 2016 2016 • Exceptional Strong Revenue & Net Profit +54% Net Profit YoY • Operated Thai Wah International Trade (Shanghai) • Expand Capacity for Tapioca Starch, Glucose & Rice Noodle • Prepare formation of TWVN, TWCBD, TWBP Private for Investor Forum 4
FINANCIAL HIGHLIGHTS IN 2016 2016 2016 5,525 Sales Sales growth 6,163 2016 +12% YoY 1,184 Gross profit Q4 +28% YoY 1,568 716 EBITDA 997 GP Margin 435 NP (after MI) 2016 vs. 2015 669 25.4% vs. 21.4% 2015 2016 Q4' 2016 EBITDA 2016 +39% YoY 1,395 Sales 1,784 Q4 +48% YoY 329 Gross profit 490 NP (after MI) 199 EBITDA 294 2016 +54% YoY Q4 +165% YoY 81 NP (after MI) 215 Q4'15 Q4'16 Private for Investor Forum 5
Company Factsheet
COMPANY FACTSHEET NAME Thai Wah Public Company Limited Retail - SYMBOL TWPC Foreigner Institution - 12.7% Thai SECTOR / INDUSTRY Agribusiness / Agro & Food Industry 25.2% Institution - MARKET Stock Exchange of Thailand (SET) Foreigner 32.3% PAID-UP CAPITAL THB 880.42 million Retail -Thai 29.9% 880,420,930 shares (Par THB 1.00) COMMON STOCK 5 th October 2015 LISTED DATE Shareholder structure** Free float 55%** DIVIDEND POLICY Increase in absolute dividend payout Foreign limit 49%** Market Cap : around 8,232 MB** Source: • The Company ** SET as of 30 December 2016 Private for Investor Forum 7
Business Overview
HISTORICAL OF THAI WAH GROUP Leader in Thailand in Tungsten and Tin Ore Mining Move to Banglane 1952, started to produce and export Expansion of District and tapioca starch in Chonburi Province starch mill create Thailand’s 1953, started to produce mung bean business in single largest 2013 Thailand vermicelli in Bangkok vermicelli factory TWS resumed trading on the SET 1947 1950s – 1960s 1963 1970s – 1980s 1985 1990s – 2000s 2001-2007 2015 1963 2017 TWS to go under rehabilitation process 1985 1989 Founding of TWS listed TWFP listed Thai Wah in on the SET on the SET Rangoon, “Thai Wah No.1” Shareholders’ meeting of the Expansion of the starch subsequently first tapioca business two company approved the moved to business to drive export and export out, Bangkok business combination volume and enter into leader and pioneer in between TWS and TWFP, by Vietnam market Thailand amalgamation process Market leadership of vermicelli in Double Dragon, Double Kilin brands Automated vermicelli production line Private for Investor Forum 9
THAI WAH BUSINESS OVERVIEW Starch and Related Food Products Business Business Native Starch Modified Starch Sweetener Vermicelli Rice Noodle Native tapioca starch Alpha starch Sweetener for:- Dry & fresh mung Dry & fresh rice noodles Modified tapioca starch for:- bean vermicelli Dairy Mung bean starch noodle for :- Food Industry Confectionery (Shanghai noodle) Paper Industry Textile Industry Coffee White Salim starch Adhesive Industry MSG Paper Industry Sago/tapioca pearl Food Industry Coarse Flour “Rose Brand” “Alpha Brand” “Rose Brand” “Double Dragon” “Phoenix” “Double Kilin ” “New Grade” Production Base : 4 factories in Thailand and 2 factories in Vietnam Production Base : 1 factory in Thailand Capacity : 22,000 tons for Vermicelli and 4,000 tons for Capacity : 390,000 tons for Tapioca starch and 33,000 tons for Glucose Noodles Customer Base : ~75% Export and ~25% Domestic (TH only) Customer Base : ~92% Domestic and ~8% Export Private for Investor Forum 9
STARCH APPLICATION Pearl Thai Dessert Pharmaceutica Fabric Sweetener Animal Feed Syrup & Dessert l Starch Cassava Root Industrial Instant Meal MSG Carton Glue & Adhesive BIO Application Sauces Cosmeti Carton Biodegradable Modified c Products Starch Metal Paper Beverage Industry Private for Investor Forum 11
OUR FOOD PRODUCT Private for Investor Forum 12
DELIVER QUALITY, TASTE, AND CONSISTANCY CASSAROLE SHABU DEEP FRIED STIR-FRIED QUICK THAW SHANGHAI NOODLE PAD THAI SALAD TAPIOCA PEARL Private for Investor Forum 13
STRATEGIC IMPERATIVE : BUILD, EXPAND, AND GROWTH Capitalize on growth in Asia middle class food consumption trends to increase production volume and capacity Drive volume growth Increase in volume production for starch, glucose and rice through manufacturing noodle segments across ASEAN region expertise Continue to seek improvements in technology and manufacturing efficiency to improve ROIC Regional Leader in Starch and Improve national network for sales and marketing distribution Starch Related Improve Sales and Food Products Launch of food products to establish market leadership in Marketing and distribution efforts Indochina region (Vietnam, Myanmar, Cambodia, Laos) Establish new contract farming small holder models in emerging markets to Cambodia, Myanmar with abundant root supply Pioneer new verticals Develop new customer-centric food applications in modified starch and other R&D efforts TWPC aims to drive systematic margin improvement; higher ROIC rate for new investments to enable long term ROE growth Private for Investor Forum 14
DEVELOP A FOOTPRINT ACROSS ASEAN Myanmar Vietnam Opportunities Opportunities Pioneer new small holder farm Enhancement of sweetener business model (2X Yield in 2015) Pho, Bun, Noodle, Rice Flour business Tapioca plantation & Chips Will be market leader in 2017, 3X Expansion into consumer foods, Growth in 2015 for Vermicelli and noodles, sauces, sweetener to tap Noodles on growing middle-class Established new subsidiary Thai Wah Vietnam Company Limited February 7, 2017 Manufacturing and distributing of Cambodia food products VND 22,462 million (Baht 35 million) Opportunities 100% Holding Tapioca plantation and productivity improvement Investments in Tapioca given strong availability of roots Strong border links with Thailand and Vietnam Established new subsidiary Laos TWPC Investment (Cambodia) Opportunities Company Limited Tapioca plantation and productivity January 24, 2017 improvement Manufacturing and distributing of Tapioca chips, starch, export starch products KHR 4,000 million (Baht 35 million) 100% Holding Private for Investor Forum 15
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