Private equity firm SC Capital Partners has co-invested in developing a high-end condo in Sri Racha while listed Asia Green Energy forms a joint venture with Chinese partner to export coal to China.
SC Capital Partners co-invests in luxury condo
SC Capital Partners (SCCP), a Singapore-based real estate and private equity firm, has made the second joint venture with Thai developer Golden Group in a high-end condominium project worth 3.2 billion baht ($91 million).
SCCP and Golden Group have formed a joint venture firm, Goldshine, and launched their first condo and serviced apartment project in Sri Racha last year, according to Bangkok Post’s report.
SCCP’s chairman Suchad Chiaranussati told the media that it expected that half of the new project, Keen Sriracha, would be sold within six months since its launch (yesterday). The construction is set to start in the third quarter this year and take three years to complete.
SCCP and its affiliates’ flagship opportunity funds, Real Estate Capital Asia Partners, raised just under $1.8 billion in capital commitments from institutional investors across four funds. He added that its target destinations over the last two years have been Japan, Australia and South Korea.
Thai coal trader taps into China via JV
Asia Green Energy, a bituminous coal exporter, set up a 50:50 joint venture with China-based Fuzhou Xindian Fuel Co Ltd to expand its coal business in China.
The JV company has the registered capital of 20 million yuan ($2.9 million) and the establishment is scheduled to be completed in the second quarter, according to the filing on Tuesday.
Asia Green Energy has been selling coal to China since 2001. It expects to export 50,000 tonnes of coal each month to China, on top of its projection of 20-30 per cent year-on-year increase in sales this year.