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Thailand Industry – Singha Estate Gets Drunk on Takeovers

By on Sep 23, 2015 in Hotel-Tourism, Retail

Singha Estate Plc is due to close a 2 billion baht takeover deal of a hotel in a major Thailand tourist destination.  Methee Vinichbutr, chief financial officer, said “Acquisition talks will get easier during an economic decline. We hope to end this deal this year to improve our performance,” he said.

Mr Methee said the hotel deal was among a few Singha was pursuing, including office buildings and a non-listed company that own attractive assets. Singha Estate declared in July it would spend 30 billion baht over the next 18 months to acquire property assets in Thailand and neighbouring countries. Last month Singha acquired Suntowers Complex which includes office space and leasehold land.

By the end of this month Singha expects to launch a condo project on Asok Road. This is expected to happen just before the launch of the new Raimon Land Plc new condo project.

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Source: Bangkok Post 4th September 2015

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