Thai Wah acquired 33.3% shares in Tapioca Development from Japan Corn Starch.

Thai Wah, the manufacturer and distributor of tapioca starch products and starch-related products to acquire 33.3% shares in Tapioca Development from Japan Corn Starch. Financial terms were not disclosed. The acquisition takes place in order to potentially relocate the factory located in Pattaya Beach, Thailand, based on the expiration of the original lease agreement entered into thirty years ago. JCS understood TDC’s business strategy and its necessity to perform its obligation set forth in the lease agreement with its landowner for the lease of the land where the TDC’s factory has operated for thirty years. JCS decided to agree to transfer all of its shares in TDC.