By Chalida Ekvitthayavechnukul
This acquisition, which is scheduled to be completed in the first half of this year, will help Malee expand its business in Vietnam market.
It targets to have the project orders worth 8 billion baht ($251.4 million) before launching the IPO.
The portfolio for sale consists of four hotels in Phuket and one each in Bangkok, Hua Hin and Koh Samui, with an indicative price of $230,000 per key.
IPSB, the Malaysian firm, is a food-grade paper packaging company that serves global fast food restaurant chains.
Amata will invest in land and infrastructure development for industrial parks in Vietnam and Thailand.
The group’s retail arm Siam Makro PCL will open 15 wholesale cash and carry stores in India starting with Delhi-NCR.
The ICO proceeds will be used to develop a digital lending platform using blockchain technology for use by J Fintech, another Jaymart subsidiary.
The 50:50 JV will develop and operate a low melting fibre (LMF) plant in the US.
With the latest funding, the company will expand its platform to cover other users, including banks and foreign owners.
The project is the first major investment in Thailand by JR Kyushu.