Thai Digest: Centara to manage Maldives resort; Energy Absolute forms JV

Thai hospitality group Centara has got into an agreement to manage a five-star resort in Maldives, while Energy Absolute Plc will form a joint venture with China’s Shenzen Growatt New Energy Technology and Amita Technologies to set up a plant for making batteries for renewable power systems and electric vehicles.

Centara to manage a beach resort in Maldives

Centara Hotels & Resorts, a leading Thai hospitality group, has signed an agreement to manage the five-star property Centara Grand Muthaafushi Resort & Spa Maldives, making it the fourth beach resort under Centara’s umbrella, the company announced on April 5.

The agreement was signed with Muthaafushi Orient Investment Ltd, in which China Orient Asset Management (International) Holding Limited has an investment, and Well Land Investment PVT Ltd.

Located in Baa Atoll, Maldives, the resort will include 24 land villas, 77 water villas, international restaurants, an underwater restaurant, a floating cinema, a Thai spa, among other facilities.

The new resort is expected to have a soft opening in the fourth quarter of 2018 and the grand opening in 2019.

Energy Absolute to form JV to produce batteries

SET–listed Energy Absolute Plc (EA) has signed a joint venture agreement with China’s Shenzen Growatt New Energy Technology and Taiwanese subsidiary of Amita Technologies to set up a plant for making batteries for renewable power systems and electric vehicles, according to a report in the Bangkok Post.

The total investment in the JV could go up to 100 billion baht, the report said. It added that the share split between the three companies is yet to be finalized.

Somphote Ahunai, chief executive of EA, said in the report that the plant will be located in the Eastern Economic Corridor and that 80 per cent of the power storage products will be exported.

EA currently holds a 40 percent stake in Growatt, which focuses on photovoltaic inverters, and a 35 percent stake in Amita Technologies which mainly handles manufacturing of battery related products.

The work on the JV will start this year, and the first lot of batteries will be available in the market in 2018, the report added.

Also Read:

Thailand’s Centara Group signs JV with Nakheel to invest $136m in Dubai

Four Thai hotel firms enter Middle East market

Thailand’s Wind Energy forays into Australia with CWP Renewables

 

Singapore Reporter/s

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

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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.