Tommy Taechaubol, Chief Executive Officer of Country Group Holdings Public Co. Ltd. (CGH), revealed that the company used funds from Country Group Securities Public Co. Ltd. (CGS) to invest in 29,903,500 shares of MFC Asset Management Public Co. Ltd. (MFC), equivalent to 24.92 percent of total shares. The act of becoming an important stakeholder in MFC, known as one of the top asset management companies in Thailand, and whose other major shareholders consist of the Ministry of Finance and the Government Savings Bank, is in accordance with plans by CGH to modify the structure of its business groups. The move is expected to provide a tremendous boost to increasing the operational capabilities of CGH’s affiliates and subsidiaries, especially CGS, which is one of the firms in the group.

“The move to become major shareholder in MFC is considered an important step for CGH under the Holdings structure, of which CGS is presently a business affiliate. (We are) certain that it will improve the capabilities of management as well as help increase its ability to compete, thus expanding both companies’ business, particularly in creating and providing new financial services. These advancements will assure sustainable growth for our group affiliates.”

In past periods, investing in MFC has provided regular returns in the form of dividends. In 2014, the company has received over 50 million baht in dividends. This modification of the group’s business structure will support transparency and make management procedures easier for controlling and regulating subsidiaries and affiliates.