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Siam Motors Offers Majority Holdings.
Byline: Santan Santivimolnat
Oct. 2--Siam Motors Co will offer foreign partners stakes of up to 70 percent when expanding new and existing joint ventures
The company says its new policy is a practical way to adapt to globalisation.
"Normally, we are familiar with a 51 percent stake for Thais and 49 percent for foreigners in any joint venture, but Siam Motors is different from now on as the company will give foreigners the largest stakes if they can find export markets and transfer technology to local people," said Phornthep Phornprapha, the company's president.
Exports and investment will be the key factors determining whether or not foreigners are offered majority holdings.
"If the products are destined only for the domestic market, that structure would be unnecessary," he said. Talks had begun with potential partners.
A major joint venture between Nissan Motor Co and Siam Motors was seen as a good move when both sides agreed that Nissan hold a 74.9 percent stake and Siam Motors 25.1 percent . The agreement remains unsigned because of undisclosed hitches. However, if these are overcome, Nissan is ready to invest heavily to increase automobile production in Thailand.
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