Srithai Superware Public Company Limited Notes to the Consolidated and Company Financial Statements For the years ended 31 December 2012 and 2011 11
Investments in subsidiaries, associates and joint venture (Cont’d)
11.3 Significant events a)
Investment in subsidiaries Srithai (Vietnam) Company Limited During the year 2012, Srithai (Vietnam) Company Limited, a subsidiary, registered a capital increase of US dollars 11.10 million. The Board of Directors of Srithai Superware Public Company Limited passed a resolution to invest in an increased capital according to a 100% shareholding. The Company paid a part of the increased share capital being US dollars 2.10 million or equivalent to Baht 66.03 million. During the year 2011, the Company paid Baht 4.70 million for acquisition of 4.16% shares of Srithai (Vietnam) Company Limited, a subsidiary, from a former shareholder, in accordance with the resolution of the Board of Directors. After the acquisition of the shares, the Company’s shareholding in the subsidiary increased from 95.84% to 100.00%. The subsidiary had registered the amendment of shareholding structure on 22 April 2011. P.E.T. Blow Company Limited On 9 March 2012, the Extraordinary Shareholders’ Meeting of P.E.T. Blow Company Limited, a subsidiary, passed a resolution to call for paid-up the remaining 75.00% of entire registered share capital amounting to Baht 15.00 million. The Company has paid up in full according to its 100% shareholding. On 28 October 2011, the Extraordinary Shareholders’ meeting of P.E.T. Blow Company Limited, a subsidiary, passed a resolution to increase the authorised share capital of Baht 15.00 million by increasing ordinary shares from 500,000 shares with a par value of Baht 10.00 per share to 2,000,000 shares with a par value of Baht 10.00 per share. The subsidiary called for 25% paid-up of the increased share capital, equivalent to Baht 3.75 million and registered its increase of share capital with the Ministry of Commerce on 2 November 2011. The Company paid for the additional paid-up share capital in full amount, according to its 100% shareholding. PET Siam Company Limited On 20 March 2012, the Company registered to incorporate a subsidiary, PET Siam Company Limited, which is engaged in the manufacture of blown beverage packaging and/or other packaging, with a registered share capital of Baht 25.00 million. The Company had a 100% shareholding in the subsidiary. The subsidiary called for 25.00% paid-up share capital amounting to Baht 6.25 million. The Company has paid the called for paid-up share capital on 30 March 2012. Korat Thai Tech Company Limited On 3 March 2011, the Company registered to incorporate a subsidiary, Korat Thai Tech Company Limited, which is engaged in the manufacturing and distribution of melamine products to serve overseas customers and to support increasing production capacity. The subsidiary has registered share capital of Baht 30.00 million and the Company holds 100.00% shareholding. During the year 2011, the subsidiary called forpaid-up full amount of its share capital, and the Company already paid up in full.
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Annual Report 2012 Srithai Superware Public Company Limited