announces joint-venture

STECON ANNOUNCES JOINT-VENTURE Sino-Thai Engineering & Construction Plc (STECON) signed a contract to set up a new company in a joint venture with Associated Cable Support Pty Ltd on Mar 18, 1994. Details of the new company are as follows: @ New Company's Registered Capital: Bt10 million, divided into 100,000 common shares at Bt100 par, all of which are paid up. @ Investment ratio: STECON and Associated Cable Support Pty Ltd each holds a 50% investment equity amounting to Bt5 million. @ Objectives: To set up a plant to produce high-tech and high-quality cable trays. Products will be sold in both domestic and foreign markets. @ Source of Funds: STECON's revolving fund @ Expected Benefits: STECON's expected benefits will come in the form of dividends, technology transfer, and expertise of cable tray production.