In a recent interview with Kaohoon TV Online, Ms. Hathaikan Kamolsirikul, Head of Strategy, Sustainability & Innovation, Head of New Business Group, and Chief of Staff at Thai Wah Public Company Limited (SET: TWPC), detailed the group’s strategic evolution from a traditional agricultural processor into a global food and high-value specialty ingredients provider.
Founded in 1947, TWPC is a nearly 80-year-old Thai food and starch producer widely recognized for its “Double Dragon” vermicelli brand. The company operates three core businesses: Food, High Value-Added Ingredients, and Native Starch. TWPC has manufacturing operations in Thailand, Vietnam and Cambodia, with its products distributed across more than 30 countries worldwide. While Native Starch remains an important revenue and cash-generation engine, TWPC has been shifting its portfolio toward higher-value businesses.
In 2025, the Food business contributed more than 50% of Group profit, while the High Value-Added Ingredients business continued to strengthen its higher-margin, specialty applications across food categories.
To mitigate agricultural commodity price volatility, TWPC is driving structural growth through The Stock Exchange of Thailand’s “Jump+” program, an initiative designed to strengthen listed companies and drive sustainable growth in the Thai capital market. The company will focus on high-margin specialty ingredients, operational efficiency via clean energy investments, and expansion in high-growth overseas markets.
In Vietnam, where TWPC has maintained a strong presence for 25 years and holds the top market position in fresh vermicelli with double-digit growth, the company is stepping up its commitments. Over the coming years, TWPC plans to significantly scale up its Vietnamese business, exploring both organic expansion and inorganic growth opportunities to capture the region’s surging consumer potential.
As part of this international strategy, TWPC opened its first pre-mix factory in China this July, reinforcing its market presence in a key country. Operationally, TWPC buffers against localized crop yield deficits and weather risks by dynamically rebalancing raw material sourcing and production across its five Thai factories and its overseas plants in Vietnam and Cambodia.
A major cornerstone of TWPC’s food growth acceleration is its recent acquisition of an 80% controlling stake in World Grow for nearly THB 200 million. World Grow, a specialist in sauce and seasoning formulations, previously served as TWPC’s primary OEM partner for ready-to-eat convenience noodle cups, such as boat noodles, tom yum, and suki. Financial consolidation of World Grow starting in September provides TWPC with in-house R&D capabilities to create tailored flavor profiles for Southeast Asian and Asia-Pacific markets.
Looking forward, TWPC has set a strategic target for its food business revenue to surpass THB 4 billion by 2030. With first-half food revenue achieving approximately THB 1.3 billion and market demand remaining highly stable, executive leadership anticipates strong second-half performance as high-margin food offerings continue to elevate overall profitability and long-term business valuation.
