Thailand dealbook: Nusasiri, BAM, Asahi Kasei, Polypore


Two acquisitions were recently announced by Thai property developer Nusasiri and Japan-based Asahi Kasei. The former acquired condo units in the heart of Bangkok and plans to resell it in the next quarter, and the latter acquired a membrane manufacturer and supplier as a part of its business expansion in Thailand. Nusasiri acquires… Read more »

CYBER taps into energy biz by acquiring APU for $10.5m

The board of CyberPlanet Interactive PCL (CYBER) approved to acquire 100 per cent of common shares in Andaman Power and Utility Co (APU) for 340 million baht ($10.49 million). This is the group’s first move to diversify into the energy business, aiming to create more revenue and profit apart from… Read more »

Thailand’s Osotspa, Myanmar’s Loi Hein form beverage JV

Thailand’s pharmaceutical and consumer products manufacturer Osotsapa Co and Myanmar-based Loi Hein Group have formed a joint venture (JV) to penetrate the beverage market in the ASEAN. The JV firm, called Osotsapa Loi Hein, will be overseeing the marketing, sales and distribution of Osotsapa’s beverages, including the M-150 and Shark energy drinks, in Myanmar…. Read more »

CIMB Thai foresees bright prospect for domestic equity market

The first few months of the current year have been challenging for deal makers in Thailand. Despite this, the CIMB Thai remains bullish on the the equity market and predicts that the country will continue to witness heightened activity in M&A, a trend that has been carried forward from the last year. In an exclusive interview… Read more »

Thailand’s CWT to set up a JV plant in Cambodia

The board of Chai Watana Tannery Group (CWT), a manufacturer and exporter of leather finished products, has approved to set up a joint venture – NHK Spring (Cambodia) Company Limited – for manufacturing the stitched parts of automobile covers, to serve the growing demand in Cambodia. The new company has a… Read more »

Thailand’s MIDA takes over Retreat Hua Hin, buys remaining stake for $1.4m

Thailand based Mida Assets PCL (MIDA) has taken over The Retreat Hua Hin Co by acquiring the remaining 398,000 shares from David King Lok Tse, for 44.8 million baht ($1.4 million). Post acquisition, MIDA’s stake in The Retreat Hua Hin has increased from from 74.75 per cent to 100 per cent. The Retreat Hua Hin Co has been operating its property… Read more »

AP-MJRI co-invest to develop fifth condo project

Thailand’s property developer AP (Thailand) PCL signed a joint venture agreement with MJR Investment PTE LTD (MJRI) to develop the fifth condominium project worth 6.3 billion baht ($195 million) in the heart of Bangkok. The ‘Life Asoke’ condominium will be developed by AP (Petchburi) Co, 51 per cent of which is… Read more »

Thailand’s GL to raise $30m via issue of CDs to J Trust Co

Thailand-based motorcycle leasing firm Group Lease PCL (GL) is planning to raise fresh funds through an issue of $30 million convertible debentures (CDs). The new funding will help support its aggressive expansion plans for the Southeast Asia. The CDs, which have a over three-year maturity period and a conversion price of 10 baht per share, will… Read more »

Thailand’s Lanna to acquire Indonesian coal miner for $30m

Thailand based Lanna Resources PCL (LANNA) is planning to acquire at least one coal mine in Indonesia this year with an approximate investment outlay of $20 million-$30 million. The company is also interested in investing in a coal-fired power plant in Indonesia (especially since the coal price has dropped) and an alternative-energy based power… Read more »

Thailand’s Siam Wellness to invest $12m for expansion

After its listing in Market for Alternative Investment last year, Siam Wellness Group (SPA), one of the largest spa chains in Thailand, has allocated a budget of 400 million baht ($12.34 million) for its expansion this year, including the acquisition of two spa companies in Thailand. Chief executive Wiboon Utsahajit said that it was negotiating to buy two… Read more »