INVESTOR PRESENTATION Q2’17 “ TO BE A REGIONAL LEADER IN STARCH & 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 1
AGENDA Business Highlights Company Factsheet Business Overview Financial Performance Q&A Private for Investor Forum 2
BUSINESS HIGHLIGHTS IN 1H17 • Thailand Starch volume in 1H17 +10% YoY (Q2’17 +28% YoY) • Glucose sale volume in 1H17 +8% YoY (Q2’17 +25% YoY) • Glucose capacity expansion in July 2017 & Coarse Flour in Q4’17 • TWBP full operate in Q4’17 & TWVN & TWCBD in Q1’18 Private for Investor Forum 3
Company Factsheet
COMPANY FACTSHEET NAME Thai Wah Public Company Limited Retail - SYMBOL TWPC Foreigner 13.9% Institution - SECTOR / INDUSTRY Agribusiness / Agro & Food Industry Thai 28.5% MARKET Stock Exchange of Thailand (SET) Institution - Foreigner 32.2% PAID-UP CAPITAL THB 880.42 million Retail -Thai 25.4% 880,420,930 shares (Par THB 1.00) COMMON STOCK 5 th October 2015 LISTED DATE Shareholder structure** Free float 50%** DIVIDEND POLICY Increase in absolute dividend payout Market Cap : around 8,584 MB** ** SET as of 8 June 2017 Private for Investor Forum 5
Business Overview
THAI WAH BUSINESS OVERVIEW Starch and Related Business Food Products Business Native Starch High-Value Added Vermicelli Rice Noodle Others Native tapioca starch Glucose/Sweetener Dry & fresh mung Dry & fresh rice noodles Bean Sheet for:- bean vermicelli (Shanghai noodle) Coarse Flour Food Industry / MSG Tapioca starch Sago (Pearl) Paper Industry Sago (Pearl) Pharmaceutical Modified tapioca starch Textile Industry Alpha starch Adhesive Industry “Native Starch” “Glucose” “Alpha Brand” “Pearl / Sago” “Double Dragon” “Phoenix” “Double Kilin ” “New Grade” Production Base : 1 factory in Thailand Production Base : 4 factories in Thailand and 2 factories in Vietnam Capacity : 22,000 tons for Vermicelli and 4,000 tons for Noodles Capacity : 390,000 tons for Tapioca starch and 50,000 tons for Glucose Customer Base : ~94% Domestic and ~6% Export Customer Base : ~79% Export and ~21% Domestic (TH only) Private for Investor Forum 7
STARCH APPLICATION Pearl Thai Dessert Pharmaceutical Fabric Sweetener Animal Feed Syrup & Dessert Starch Cassava Root Industrial Instant Meal MSG Carton Glue & Adhesive BIO Application Biodegradable Sauces Cosmeti Carton Modified Products c Starch Metal Paper Beverage Industry Private for Investor Forum 8
OUR FOOD PRODUCT 1 Dry Vermicelli Fresh Vermicelli Bean Sheet High product quality 2 Dry Rice Noodle Fresh Rice Noodle No chemical preservatives & FOODS gluten-free contents 3 Sago / Pearl Noodle Kit New Grade Product & Food Hygiene certification processes Private for Investor Forum 9
FOOD DISTRIBUTION AND GO-TO MARKET STRATEGY Phitsanulok Chiang Mai Udon Thani 34 % Roi Et growth for 1H17 Nationwide Distribution Coverage Korat First Hub at Chiang Mai in Q2’17 Banglan Sales +23% QoQ Chonburi Efficiency Operation Bangkok Customers Base Key long term driver Surat Thani Leveraging a Technology - Enabled platform to build through Thailand and ASEAN Private for Investor Forum GPS-handheld 10
FOOD EXPORT OPPORTUNITY 6 % Contributions for 1 H 17 Mainly Food Export to EU, USA, and CLMV Expansion more “Volume” especially in CLMV / Exploring more on “New Products” especially in EU and USA Private for Investor Forum 11
NOODLE KIT ASIAN INSPIRE First export to HK Will be Ready in Thailand’s MT in Q4’17 Private for Investor Forum 12
TW 2020 GROWTH STRATEGY “ TO BE A REGIONAL LEADER IN STARCH AND STARCH- RELATED FOOD PRODUCTS” STRONG SUSTAINABLE GROWTH Private for Investor Forum 13
CREATE BUSINESS SUSTAINABILITY Bioeconomy development project 10-years development plan under the government and Pracharat Encourage modern farming management High Value-added bioproducts (Biorefinery – Starch “Fermentation” Platform) Increase the value of cassava to more than 100 billion baht / year Private for Investor Forum 14
CREATE BUSINESS SUSTAINABILITY Characteristics & Land Preparation Use of Agricultural Farm & Household Main Factors of (Ploughing) / Soil Statement Machinery (Tractor) Cassava Varieties Improvements Integrating Smallholder Irrigation system / Use of Drone for Facilitates Farmers to Agricultural Water & nutrient Modern Farming Weeding Value Chains supply Private for Investor Forum 15
BIOGAS POWER PLANT Tapioca Starch Waste Water Tapioca Pulp Biogas Future Project Operation in Q4 ’2017 Electricity Drying Private for Investor Forum 16
TWBP : ALL GENERATORS INSTALELD Private for Investor Forum 17
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 18
VIETNAM FOOD UPDATE Private for Investor Forum 19
HO CHI MINH FOOD PLAN Be 1 st to Start to launch to market introduce since Fresh VN to mid- June VN Market Private for Investor Forum 20
HO CHI MINH FOOD PLAN Private for Investor Forum 21
Financial Performance
SALES BREAKDOWN Thai Wah Group Sales Breakdown Thailand Sales Breakdown Thailand Sales Breakdown by Geographic Sales Breakdown by Business Food, 23% Local Native, Export 44% 56% 51% HVA*, 26% *HVA products – Glucose, Coarse flour, Pearl, Alpha starch Sales Breakdown by Base Operation Export Breakdown China US & Canada Middle East 4% 5% & Others 3% Europe Vietnam 5% 21% Thailand China & 75% Asia 87% Note : Thai Wah International Trade (Shanghai) started operation in Q3’16 Source : The Company Private for Investor Forum 23
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