KCE Electronics Public Company Limited (SET: KCE), has announced that the company’s Board of Directors’ at the meeting No. 7/2567 dated July 9, 2024, passed the resolution to approve the corporate restructuring by merging the business of K.C.E. International Company Limited (KCEI), a subsidiary in which the company holds 99.99% of shares, into the company’s business through the Entire Business Transfer method, effective from August 1, 2567.
As a result of the aforementioned method, all assets and liabilities, including shares held by KCEI in (1) KCE America Inc., (2) KCE Singapore Pte Ltd., and (3) Thai Laminate Manufacturer Co., Ltd., shall be transferred to the company, which will not affect whether direct or indirect shareholding proportions in the subsidiaries and associated companies of the company in any way.
Subsequent to the completion of acquisition of the Entire Business from KCEI to the company, KCEI will proceed with the registration of company dissolution with the Department of Business Development, Ministry of Commerce in order to cease KCEI’s status as a subsidiary of the company and be compliance with the conditions to obtain tax benefits under the Revenue Code.
CGS International Securities (Thailand) stated that this is just a minor corporate restructuring in light of the sale of the KCE International plant (the now-defunct factory in Ladkrabang).
The firm believed that should have no material impact on how the business operates, while expecting KCE to recognize some gains from the sale in 2Q24F, probably around THB50 million.
