Ewein joins Bangkok coffee vending machine venture
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Ewein Bhd is looking to undertake the “Smart Mobile Coffee Vending Machine Project” in Bangkok, Thailand, as part of its strategy to expand its e-commerce division overseas.
The project will see the installation of smart mobile coffee vending machines in 30 locations in Bangkok.
While Ewein did not give details of the project, other examples of smart mobile coffee vending machines use a smartphone to see the environmental data as well as to control the amount of coffee, sugar, and coffee creamer which are mixed into a cup of coffee. The machine and the phone exchange their data via Bluetooth, providing a more personalised service.
The company said in a filing with the stock exchange that its 89%-owned subsidiary Ewein Ecommerce Sdn Bhd today entered into a memorandum of agreement with Yingyos Charubusapayon and Chai Yangruay to collaborate and jointly establish a joint venture (JV) company in Thailand for the project.
The JV, in which Ewein Ecommerce will own a 40% stake, will have an authorised and paid-up capital of up to 5 million baht (RM629,000).
Ewein Ecommerce’s participation in the project will be financed through internally generated funds.
“The board is optimistic that the Bangkok project will contribute towards profitability of Ewein.”
On Bursa Malaysia today, Ewein fell half a sen or 1.4% to 35.5 sen on 387,000 shares done.
Questions & Answers
Q.What is the primary purpose of Ewein Bhd's new venture in Bangkok?
What is the primary purpose of Ewein Bhd's new venture in Bangkok?
Ewein Bhd aims to expand its e-commerce division overseas by undertaking the "Smart Mobile Coffee Vending Machine Project." This project involves installing smart vending machines across 30 locations in Bangkok.
Q.How will Ewein Bhd finance its involvement in the Bangkok coffee vending machine project?
How will Ewein Bhd finance its involvement in the Bangkok coffee vending machine project?
Ewein Ecommerce’s participation in the project will be financed entirely through internally generated funds. The company's 89%-owned subsidiary, Ewein Ecommerce Sdn Bhd, will be involved in the joint venture.
Q.What is the capital structure of the joint venture company being established for this project?
What is the capital structure of the joint venture company being established for this project?
The joint venture company will have an authorised and paid-up capital of up to 5 million baht. Ewein Ecommerce, an 89%-owned subsidiary of Ewein Bhd, will own a 40% stake in this JV.
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