Sri Trang Gloves (Thailand) Public Company Limited or STGT revealed that the Board of Directors Meeting No. 2/2011 on October 14, 2021 has unanimously approved the entering into an asset management contract for investment ( Portfolio Management Agreement) Between Sri Trang Gloves Global Pte. Ltd. (STGG) which is a subsidiary in which the Company holds shares in the proportion of 100% registered in Singapore and engages in asset management business Financial and financial investments of the Group as a customer กับ Paragon Capital Management Singapore Pte. Ltd. (PCMS) which is a juristic person incorporated in Singapore and operates as an investment advisor and asset management As an investment advisor
Both of these transactions, which are considered as connected persons with the Company because PCMS is a company with major shareholders, Dr. Waiyawut Sincharoenkul and his spouse, with Dr. Waiyawut Sincharoenkul as the Company’s director. the
STGG has agreed to appoint PCMS as its investment advisor and is responsible for managing investment assets. The assets under management cash investment of USD 100 million or approximately Baht 3,367 million (referring to foreign exchange rates) which came from the Company’s cash balance.
In the asset management framework under investment management, PCMS will invest the assets under investment management into financial securities, including but not limited to equity securities, debt instruments, derivatives, unit trusts, bank deposits. It does not include crypto-currency assets. (cryptocurrency) with a contract term of 2 years from the date of the contract
with a fee of 0.75% per annum of the asset value under investment or an annual value of $750,000 and the total value over the contract term is approximately $1,500,000 or approximately Baht 50.5 million (referring to foreign exchange rates), paid on a quarterly basis.
