How To
Background
Thai President Foods Public Company Limited was founded on 16 October 2017 as a result of merger between Thai President Foods Public Company Limited (“TF”) and President Rice Products Public Company Limited (“PR”) as a new entity under the original name of “TF”. This merger follows Sahapat Group’s restructuring plan to found a flagship company carrying out food business reducing complexity in shareholding structure. This new company is legally transferred assets, liability, duties and obligations of both companies with registered capital of 329,704,014 Baht. And on such a day, the company was registered as listed company in the Security Exchange of Thailand with the stock symbol “TFMAMA”. And the first trading day was 18 October 2017.
History of the companies before merger
- Thai President Foods Public Company Limited (“TF”) was established on 15 February 1972 with registered capital of 6 Million Baht. It was a joint venture between President Enterprise Company Limited from Taiwan, an expert in production technology and Sahapatanaphibul Company Limited which was taking charge of marketing and sale. The objective of the company was to produce “MAMA” Instant Noodles. The first head office was located in New Petchburi Road and the first manufacturing plant was located in Nong Kham District, Bangkok. After the first year of operating, all shares were transferred to Thai major shareholders.
- President Rice Products Public Company Limited (“PR”) was established in 1981 having President Holding Company Limited as a major shareholder. The company produced instant food as rice vermicelli, rice noodle, rice stick, instant rice flour paste and porridge which were all rice-based products and instant vermicelli under the brand of MAMA, MAMY, PAPA, PAMA, HANDI RICE and PRESIDENT RICE etc.
- The Company has the policy of dividend payment through appropriation of at least 50 per cent of the annual net profit from Separate Financial Statements.
