Background - WICE Logistics Public Company Limited

Background.

Company History. WICE Logistics Public Company Limited) (“The Company” or “WICE”) stands for Worldwide Industrial Commercial Enterprise) (formerly Wice Freight Services (Thailand) Co., Ltd.) started international freight forwarder business in 1993, which focused on providing sea fright service that the main route is in Thailand – United States market. The Company has registered capital of 300 million baht as a joint venture between a group of investors in Thailand which had 70% shares and Wice Group, a group of foreign companies that have a good reputation in freight business, located in Singapore and Hong Kong which had 30% shares. Later on, the company has expanded the scope of services to customs clearance.

In 2002 and 2004, Mrs. Araya Kongsoonthorn, the largest shareholder of the company bought shares of the Company from the Group from Hong Kong and Singapore, respectively. Subsequently, the Company shares were held by 100 per cent Thai Nationality. To increase the efficiency of management, The Company rearranged the Company’s structure.

In November 2013, there was an amalgamation between Wice Freight Services (Thailand) Co., Ltd., Prompt Freight Logistics Co., Ltd., and Wice Logistics Co., Ltd., as a new company under the former name of Wice Freight Services (Thailand) Co., Ltd. The new registered company had registered and paid up capital of 15 million baht and had an office at Laem Chabang port. Furthermore, in December 2013, the Company increased registered and paid up capital to 180 million baht and had bought 99.99 per cent shares in Sun Express (Thailand) Co., Ltd. and then converted the business to public company limited and changed the name to WICE Logistics Public Company Limited on 3 April, 2015 registered capital of 300 million baht (paid up to 225 million baht). Sun Express (Thailand) Co., Ltd. (“SUN”), a subsidiary, founded on 21 October, 2002 with registered capital of 3 billion baht, a joint venture between a group of investors in Thailand which had 60 per cent shares and investors from Singapore and Hong Kong which had 40 per cent shares. The main business was to provide International logistics services, including customs clearance services, focusing on air freight services. The office is located at Suvarnabhumi Airport. Currently, the Company is the largest shareholder of 99.99 per cent of the paid-up capital and SUN has registered and paid up capital in a total of 54 million baht.