Thailand dealbook: Nusasiri, BAM, Asahi Kasei, Polypore

Visual from the website of Thai property developer Nusasiri

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 200 condo units in Bangkok

 

Thai-listed property developer Nusasiri Plc plans to spend one billion baht ($30.86 million) on acquiring a 200 non-performing condo units at the State Tower Skyscraper from Bangkok Commercial Asset Management Co (BAM) this month.

Upon the completion of the acquisition, it will renovate and resell them at a target yield of 30 per cent, said chief executive Visanu Thepcharoen.

It plans to launch the sale in the second quarter and the unit price will be lower than 100,000 baht per square metre.

The State Tower Skyscraper is in a good location on Silom Road, and 300 metres far from Taksin skytrain station. The building was completed in 2001.

According to BAM website, there are many condo units at the 68-storey building offered for sale with size of around 68 square metre, priced from four million baht a unit or around 60,000-70,000 baht per square metre.

Asahi Kasei buys membrane supplier for $3.2b

 

Asahi Kasei Corp, a Japanese fibre and chemicals manufacturer, will acquire Polypore International Inc, a membranes supplier to car makers, for $3.2 billion in order to expand its battery business and boost its overseas capacity.

Currently, Asahi Kasei has production plants in Ayutthaya and Rayong provinces. It plans to invest 237.7 billion baht ($7.34 billion) over the next five years to expand its businesses in Thailand, South Korea, China and the United States.

Company’s president Toshio Asano said that it had no plans to issue new bonds or stocks for the deal. It will use the new bridge loans and cash reserves for the investment.

Also read:

iProperty acquires Thai property portal ThinkOfLiving.com

Thailand’s EPG acquires Australian auto-part maker for $17.69m

Singapore Reporter/s

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).

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

  • 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.

Singapore Reporter/s

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).

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

  • 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.