Thai Wah Public Company Limited

Thai Wah Public Company Limited (the "Company") was formed by the amalgamation of Thai Wah Starch Public Company Limited and Thai Wah Food Products Public Company Limited. The Company's core business is divided into two main categories: manufacture of tapioca products, and manufacture of vermicelli and noodle products for local and international distribution. The Company has invested in the ordinary shares of Laguna Resorts & Hotels Public Company Limited and Tropical Resort Limited and is currently holding 2.1% and 19.8% of the total paid-up capital of each company, respectively. The purpose of investing in these non-core business is to diversify the Company's business risks. By investing in such ordinary shares, the Company expects to derive returns in the form of dividend.