Pluk Phak Praw Rak Mae Public Company Limited (SET: OKJ) has disclosed a statement via the Stock Exchange of Thailand to reassure investors that the restaurants and its operation in Chiang Mai remain unaffected from the flood situation.
Below is the statement from the company;
Pluk Phak Praw Rak Mae Public Company Limited (the Company) would like to clarify the situation regarding the recent flooding in Chiang Mai, which has affected several districts. However, we would like to assure all stakeholders that this event has not impacted our business operations or financial position in any way.
Our two restaurant branches in Chiang Mai, located in San Sai district and Nim City Daily near Chiang Mai Airport, have not been affected and continue to operate as usual. Our central kitchen in Doi Saket and four farms, with the main farm located in Doi Saket, San Kamphaeng, and San Sai districts, have also remained unaffected by the flooding. Transportation of salad greens and raw materials to Bangkok, the surrounding areas, and the eastern region is proceeding as normal.
The area of our company affected by flooding is the farm in Sarapee, which is one of five growing areas for salad greens. Currently, the Sarapee farm has a production capacity of approximately 150-300 kilograms per day, accounting for no more than 13% of our total salad greens production capacity. Our company has proactively prepared for this situation by increasing production capacity at the San Um farm in Doi Saket. We are also sourcing additional salad greens from network farmers who have not been affected by the flooding due to higher land elevations in Chiang Mai.
Additionally, the company has adequate property insurance coverage to protect against potential damage to our farms, restaurants, and central kitchen. The preliminary damage at the Sarapee farm primarily involves waiting for the water to recede and a two-month rest period for the soil to allow for future cultivation. Notably, the cultivation season during the two months after the water recedes will be winter, which is a period that yields good produce.
We emphasize that there is no cause for concern regarding the situation at the Sarapee farm, as this is only a temporary condition.
