BANGKOK, July 15 – Thailand’s ‘Ichitan’ drink is to continue its factory’s second phase of production capability to welcome the ASEAN Economic Community (AEC) which is taking effect in the next two years.
The new phase is to be completed by next year’s first quarter.
Ichitan Group Co. chief executive officer Tan Passakornnatee and president/chairman of the Board of Directors of CIMB Thai Bank Supak Sivarak together signed a loan agreement for Bt1.9 billion to have production capacity of another 400 million bottles per year, achieving a total capacity to reach one billion bottles per year.
The business expansion aims at ASEAN markets in the Lao PDR, Myanmar, Vietnam, and Indonesia,
Mr Tan said his company plans to list in the Stock Exchange of Thailand (SET) on Dec 11 despite the fluctuation of the stock market. He said he expected that once Ichitan Group is listed as a public company, it will push its sales volume to grow to Bt10 billion in value per year, both from domestic and foreign sales.
Meanwhile, the business tycoon said recent signs of lower domestic purchasing power will slightly affect daily consumption of its goods. The Ichitan Group has had a total sales of Bt5 billion in value since January, surpassing its original target at Bt4.5 billion, he added.
