Uncertain future faces Oishi chief

"If not, I've not yet decided what I should do next," he said, adding that he would ponder the issue later.

Tan, the founder of Oishi, earlier sold his majority stake to Yodkij Thurakit, a company owned by liquor tycoon Charoen Sirivadhanabhakdi. He retains a 5-per-cent stake in the company, or 10 million shares.

On Tuesday, Charoen's flagship, Thai Beverage - Thailand's largest liquor producer - announced the Bt3.9-billion acquisition of Yodkij Thurakit's stake in Oishi.

Now owning 43.9 per cent of Oishi, Thai Beverage will launch a tender offer for the remaining shares at Bt37 apiece. The tender offer is expected to be made on next Thursday after Thai Beverage's investment in Yodkij Thurakit is approved by its shareholders.

The Oishi Group's shares were trading at an average of Bt36.34 yesterday morning, and despite the shareholding change brokerages were still recommending "buy" for Oishi stock, mainly on the basis of its solid second-quarter earnings.

Tan said Oishi's full-year sales revenue and net profit both exceeded expectations, because the company relied mostly on domestic sales and had felt little impact from oil-price hikes. Earlier, the company predicted both figures would grow 20 per cent this year.

The Oishi Group posted a second-quarter net profit of Bt159 million, up 20 per cent year on year and 31 per cent quarter on quarter.

The company recorded a first-half net profit of Bt282 million, up 20 per cent year on year.