EXIM Thailand Finances Food and Drinks Plc.’s Overseas Expansion of ZUMMER Beverage Business

Monday 13 March 2017 17:20
Mrs. Wantana Mongkolsri, Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Kasem Deemaitree, Chief Executive Officer of Food and Drinks Plc. and Mrs. Chintana Asdornnithee, Executive Director of Food and Drinks Plc., recently at EXIM Thailand's Head Office signed a financial facility agreement comprising export credit worth 40 million baht together with insurance coverage for non-payment of goods by offshore buyers and foreign exchange forward contract line of up to 5 million US dollars to hedge against foreign exchange risk.

EXIM Thailand Senior Executive Vice President said such financial facilities are intended to serve working capital requirements of Thai SME exporters wishing to expand their export markets while maintaining competitive financial costs. With these facilities, they can venture into new markets with confidence or trading in a larger volume without concerns about possible buyers' payment defaults and foreign exchange fluctuations. They can also manage their funding costs and profits as from the commencement date of sale contracts. In view of this, more time and resources can be devoted to their product development and expansion of markets.

Food and Drinks Plc. is a manufacturer and distributor of processed food and beverage under its own brand "ZUMMER" and other brands as an original equipment manufacturer (OEM). About 50% of its products are exported mainly to the CLMV such as Cambodia, and markets elsewhere, e.g. Australia, U.S.A., UK, the Netherlands, Japan and China.

For further information, please contact Public Relations Division, Office of Top Management

Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1141-6