Thailand’s Sansiri, BTS form 7 JV firms for developing properties along skytrain routes

Visual from BTS homepage

Thailand based real estate developer Sansiri PCL announced that it would be setting up seven joint venture companies with BTS Group Holdings towards the development plan for new residential projects, over the next 12 months.

Under the Strategic Alliance Framework Agreement, Sansiri and the BTS Group will hold 50 per cent stake each, in all the seven companies. This will be apart from their existing joint venture firms, which are BTS Sansiri Holding One Limited and BTS Sansiri Holding Two Limited.

Each of the joint venture companies will have an initial capital of 100 million baht, divided into one million ordinary shares with a par value of 100 baht each.

Wanchak Buranasiri, chief operating officer of Sansiri, said in a statement that all the new residential development projects would be located within a 500-metre radius of any existing and future rail mass transit stations. The source of fund will come from working capital, he said.

Meanwhile, Sansiri’s president Settha Taweesin said that it would probably raise fund through its debenture issue worth five billion baht, soon, if the market situation has improved and the interest rate is reasonable.

The proceeds will be used to support its investment plans, which according to an earlier announcement will make around 32 billion baht this year. The company expects that its pre-sale will reach 35 billion baht this year and the total sale revenue will surge to 36 billion baht.

Related stories: Siri, BTS to form JV to develop property along Bangkok’s skytrain?

 

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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.