MFEC Public Company Limited (MFEC) announced the resolutions of its Board of Directors’ Meeting No. 10/2563, held on December 15, 2020. The Board approved the establishment of a fully-owned subsidiary, Venture Lab Company Limited (“Venture Lab”), with a registered capital of THB 5,000,000. Venture Lab will have 50,000 issued ordinary shares with a par value of THB 100 per share.

MFEC will hold 49,997 shares, representing a 99.99% ownership stake in Venture Lab. The primary objective behind incorporating Venture Lab is to provide research and development (R&D) services for the development of novel products and services.