company reports

SIAM CEMENT GROUP signed a joint-venture agreement with its Vietnamese and Qatari partners to invest in Vietnam's first petrochemical complex, with an investment decision expected next year, according to Siam Cement's regulatory filing to the Stock Exchange of Thailand yesterday.

SCC has a 28-per-cent stake in the project, while Thai Plastic and Chemicals (TPC) holds 18 per cent. Other partners include QPI Vietnam, a subsidiary of Qatar Petroleum International, PetroVietnam and Vinachem.

SCG Chemicals, a subsidiary of Siam Cement, will make a mandatory tender offer for a 24.05-per-cent stake, or 210.46 million shares, of TPC at Bt30 apiece, SCC said in a separate filing yesterday.

The tender offer period is from today to March 16. The move came after SCC and its subsidiary acquired TPC shares late last month, raising their combined stake in TPC from 45.64 to 75.76 per cent.

CHAROEN POKPHAND FOODS (CPF) raised its registered capital in two subsidiaries. The registered capital of Charoen Pokphand Foods (Overseas) increased by 245 million roubles (Bt292 million) to 1.44 billion roubles. The proceeds will finance construction of livestock farms. The registered capital of Charoen Pokphand Foods (Malaysia) rose by 30 million ringgit (Bt315 million) to 150 million ringgit. The new funds will be used for business expansion. The company invests in aquaculture and swine integration.

CPF also reported that its four subsidiaries in England held by CP Foods (UK) would be dissolved, as the management does not intend to do business for commercial purposes any longer. The four subsidiaries are Fusion Grimley, Fusion Guarlford, Fusion Hadzor and Fusion Hallow.