By Mars Woo
Thai beverage and retail conglomerate TCC Group is acquiring a majority stake in Tarad.com, a leading domestic e-marketplace operator, at a reported estimated price of at least THB250 million ($8 million).
Thailand’s Carabao Group has fallen almost 40% on a total return basis from a peak in October last year. The drop is the worst globally among soft-drink makers with a minimum $1 billion market capitalization, according to Bloomberg data.
This will be the first of dahmakan’s three-city expansion plan in Southeast Asia in 2018, with Jakarta and Hong Kong slated for Q3 and Q4.
Foodpanda, Line Corp.’s Line Man and Uber Eats are all trying to woo customers in a market they see as underdeveloped compared with Hong Kong or Singapore.
Red Planet Hotels will reinvest the sales proceeds in developing new hotels across Japan.
Since taking the throne in 2016, King Maha Vajiralongkorn has brought management of the monarchy’s multi-billion dollar holdings under greater personal control and last year also took a $500 million stake in Thailand’s oldest bank.
This makes Singha the second Thai investor in the latest funds of both Vertex and Kejora.
It had already invested in Indonesian fund Kejora Ventures and Singapore-based fund Vertex Ventures.
Thailand’s overall wealth market is estimated to be around $300 billion, with a rapidly growing population of high net worth individuals of about 30,000.
Beacon VC is the venture capital arm of Thai bank Kasikornbank Plc (KBank).