Page 4 - Annual Report English 2018
P. 4
Tycoons Worldwide Group (Thailand) Plc.
In order to expand into upstream industry of steelmaking, TY steel Co., Ltd
(hereinafter called “TY”) has been set up in September of 2011 with paid-up capital of
2.39 billion baht as of Dec. 31, 2017, which is 69.43% owned by TGI and 30.57%
owned by TYCN. TY’s steelmaking EAF plant started operation in September of
2014, and then in order for TY to well utilize its EAF and to broaden its product
demand, TY started to build a new rolling mill in 2016 for producing deformed bars
with capacity of 600,000 tons per year. The construction of the new rolling mill has
been completed in the end of 2017, and TY officially started producing and selling
deformed bars in Jan. 2018 with its certificate granted by TISI.
1.3 Structure of the group
Tycoons Group Enterprises Co., Ltd (TGE)
(Taiwan)
Registered capital: NT$6,400 million (as of December 31, 2018)
Paid-in capital: NT$ 4,798 million (as of December 31, 2018)
100%
Tycoons Group International Co., Ltd (TGI)
(Cayman Island)
Registered capital: USD500 million (as of December 31, 2018)
Paid-in capital: USD223 million (as of December 31, 2018)
72.91%
Tycoons Worldwide Group (Thailand) Public Co., Ltd(TYCN)
100% 30.57%
All Manage International Limited (AMI) TY Steel Co., Ltd (TY)
Holding Company Registered capital: THB2,390 million
(as of December 31, 2018)
Registered and paid-in capital: USD3 million
(Dissolution in June 2018) Paid-in capital: THB2,390 million
(as of December 31, 2018)
TGE was approved to be incorporated by the Ministry of Economic Affairs
under the company law of the Republic of China on November 20, 1980. Its total
registered capital as of December 31, 2018 was NT$ 6,400 million, paid-in capital was
about NT$ 4,798 million Currently, TGE’s main business is to produce annealed wire
using wire rod, raw material imported from TYCN. TGE also directly sells wire rods
and annealed wire to customers in the Taiwan market. TGE currently has the
production facility in Taiwan for production of annealed wire, bolt and the only heat
treatment facility in Taiwan for the screws. TGE also took the view that there was
further potential for upward integration in its industry. Thus, after consideration, TGE
established TYCN in Thailand as its production base for upward integrated products
(wire rods as well as annealed wires and screw). TGE chose Thailand as a production
base because Thailand is extremely competitive in terms of logistics and
manufacturing cost. TGE’s investment in TYCN is done through the TGI to take
advantage of advantageous tax treatment. TGE’s primary market is limited to Taiwan
to avoid so-called cannibalization within its group of companies. In accordance with
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