Thailand’s CYBER to invest in Japanese realty

Cyberplanet Interactive Plc (CYBER), Thailand’s listed investment holding in real estate and power industry, is exploring the possibility of developing a property project in Niseko city in Hokkaido, Japan, a top executive in the company told reporters.

After having done a survey in many cities in Japan, it found that Niseko was attractive for property development as it is one of the most popular tourism cities that attracts visitors all year round, chief executive Noppol Milinthanggoon told the media on his second working day in CYBER.

This property project will be developed on the land covering 20-25 rais, and require the investment of around 500 million baht ($151.15 million). Asension Trading, its agent in Japan, will be responsible for exploring and managing the purchase of the land plot for this project.

“Over the last two years, Japan’s property sector has attracted a plenty of investors because its price remains low on average. Meanwhile, investors can generate high revenue from let their property rent,” Milinthanggoon said. . “The selling price is also lower than its actual asset price. Therefore, we are confident that our investment will receive a good return in the future.”

CYBER will finalise the property asset’s evaluation this quarter before it seeks a co-investor to construct and manage this project.

Last year, CYBER was suspended its stock trading for two weeks in October as it had not clarified the reasons for a big lot of private placement (PP) stock issue, raising fund worth 2.915 billion baht ($88.33 millon), up 521% from its paid-up capital 560 million baht ($16.97 million). The PP price was lower than the market price and limited to a group of investors.

After that, the company has restructured the management team including appointing Noppol as a new chief executive officer.

Noppol said he would like to continue the company’s policy to look for opportunities to invest in different types of business as it has a few billion baht cash flow from PP, which should be enough for future investments.

Cyber’s stock price closed at 6.05 baht on Friday, down 5.47 per cent.

Image:Freedigitalphotos.net

 

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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.