<article>Thailand&#8217;s <a style="color: #000080;" href="http://www.singhaestate.co.th/">Singha Estate PCL</a>, the property arm of Singha Corporation, plans to close three acquisition deals, worth at least 18 billion baht (around $530 million), during this year.</article>

Thailand&#8217;s <a style="color: #000080;" href="http://www.singhaestate.co.th/">Singha Estate PCL</a>, the property arm of Singha Corporation, plans to close three acquisition deals, worth at least 18 billion baht (around $530 million), during this year.
These acquisitions are a part of its plan to acquire assets and lands from other property firms both in Thailand and abroad, during 2015-17.
“We have already signed a memorandum of understanding (MOU) to acquire a 4-billion-baht asset from a company that is not listed in the Stock Exchange, and we are going to sign two more deals, of which each is worth around 6-8 billion baht, soon,” Naris Cheyklin, CEO of Singha Estate, said.
The company’s current debt-to-equity ratio is 0.3 times and it will increase to 0.7-0.8 times when the acquisitions are completed, he said. These three deals are expected to boost its revenue this year to its target of 4 billion baht, skyrocketing from 402.43 million baht in 2014.
It targets to raise the annual revenue to 20 billion baht by 2019. Of that, 60 per cent will come from property for sales and the remaining 40 per cent from property for rent.
Naris said that it would launch a 4.5-billion-baht worth condominium in Asok area this year. Also, Singha Complex, which is its large mix-use building worth 10 billion baht, is scheduled to start the construction this year and complete in the next two years.
In 2016, the company&#8217;s revenue is expected to surge to 6 billion baht and it plans to launch four new projects &#8211; three condominiums and one housing project.
In addition, it has allocated around 20 billion baht for M&amp;A next year.
“We plan to raise fund in the next two or three years, which can be an establishment of a real estate investment trust or listing a subsidiary on Thai bourse because of lower cost than financing. However, we try to keep the debt-to-equity ratio below 1.2 times,” he added.
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Singha Estate PCL plans to close three acquisition deals, worth at least 18 billion baht (around $530 million), in the remaining period of this year.

Singha Estate to acquire three assets for $530m this year

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Singha Estate to acquire three assets for $530m this year

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