PTT Public Company Limited announced that its board of directors at the meeting no.3/2564 on March 18, 2021 passed the resolution of the establishment of Innopolymed Company Limited, which is a joint venture between Innobic (Asia) Company Limited (Innobic) (wholly owned subsidiary of the company) and IRPC Public Company Limited (IRPC) (an affiliate of PTT with 45.05% stakeholding), with a registered capital of THB 260 million. The Innopolymed Company Limited is 40% stake held by Innobic and 60% stake held by IRPC. The objective of the Innopolymed Company Limited's establishment is to manufacture and sell Non-Woven Fabric products as well as medical consumables, which is aligned with the company’s new business strategy in Life Science. The company is targeted to complete its registration by the second quarter of 2021 and to start its commercial operation within the fourth quarter of 2021.