Thai Saha Pathana forays into tourism via JV with Malaysia’s MayFlower Travel

Image from Mayflower website.

Saha Pattana Inter Holding (SPI), an affiliate of Thailand’s leading consumer products distributor Saha Pathanapibul Plc, has set up a joint venture with Malaysia’s leading tourism agent MayFlower Travel Group to foray into the tourism sector.

The move marks the first joint venture for Mayflower outside Malaysia.

The JV, Mayflower Saha Thailand Co Ltd, will provide inbound and outbound tour operations as well as MICE (meetings, incentives, conferences and exhibitions) services.

SPI’s president Chantra Purnariksha said, SPI will hold 51 per cent and MayFlower 49 per cent in the JV firm with the registered capital of 10 million baht.

SPI has a large network and customer base with over 300,000 employees.

Prior to the tourism foray, the Thai company has been operating the businesses of investments, rentals and services and industrial parks.

“Mayflower’s experience in tourism sector plus our expertise in marketing will definitely help promote Thailand’s tourism and bring more tourists to the country,” she said.

She has set a revenue target for the JV at 66 million baht ($1.89 million) in the first year of the operation, starting from July 1, 2016 to June 30, 2017.

In the first phase, the JV would focus on providing booking services for air-tickets, hotels, apartments and other accommodations on the strength of Mayflower’s partners across the world.

In Thailand, she said, the sales team will visit local hotels and build up the network before penetrating in online market aggressively in the next two years.

Tourism Authority of Thailand has scaled up the tourism income target to 2.58 trillion baht, up from 2.4 trillion baht in 2015, on the back of economic recovery in the first six months.

Also read:

Thailand’s Saha Pathana forms JV with Japanese logistics co Seino, targets biz growth in ASEAN

TH dealbook: UAC forays into clean energy via JV; PTTGC to set up industrial park with SPI

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.