Bangkok: The Stock Exchange of Thailand (SET) has directed the board of directors of Filter Vision Public Company Limited (FVC) to clarify the measures and guidelines for supervising investment funds allocated for the development of the World Industrial Estate (Lamphun) by August 6, 2025. Additionally, the board is required to provide progress reports and financial statements until the completion of the investment in the estate's development.
According to Thai News Agency, the Board of Directors' Meeting of FVC is set to propose to the Extraordinary General Meeting of Shareholders on August 8, 2025, to approve the investment in ordinary shares of World Industrial Estate Company Limited (WIE). The proposed investment and project development are valued at 1,161 million baht, constituting an acquisition of 94.15 percent of the assets. Although this transaction size does not reach or exceed 100 percent, which would be considered a Backdoor Listing with the Stock Exchange, the board has deemed the investment complete and accurately calculated the transaction size. Details of the transaction are available in related news and the independent financial advisor's opinion report published on July 24, 2025. Nonetheless, for the benefit of investors, SET has requested additional information and progress reports.
The SET has specified that the FVC board and its Audit Committee need to implement measures and guidelines to monitor the investment value in project development. This includes plans for future borrowing, ensuring it aligns with previously disclosed information, which must be disclosed by August 6, 2025. The progress report should cover construction and investment developments, including borrowing activities, and compare them with the information FVC has disclosed to the SET. These reports must be submitted quarterly or whenever a significant event occurs that could affect the project's development. If there are changes in the reported information from what was initially disclosed, FVC is required to provide explanations. The project progress reports must be reviewed by the board and the Audit Committee and submitted alongside the quarterly and annual financial statements until the industrial estate development investment is finalized.