AMATA to set up property fund this year — AMATA aims to set up a real estate property fund this year. It said sales have grown by 10-20% from last year’s 2,800 rai. It has also secured a backlog of land worth Bt7.6bn, which is expected to be recognized this year. The company will invest Bt2bn on infrastructure in its industrial estates. (Khao hoon, 20/02/13)
Comment: Welll…another one jumping on the property fund train, they don’t have that much rental income generating assets to facilitate a decent sized property fund at the moment, not sure what amata is planning to sell into it
New condo on Sukhumvit 64 — ANAN is to launch the Bt4.6bn “Elio Condo” located on Sukhumvit 64, with starting unit price at Bt1.29mn. The company plans to launch 13 new projects with a total value of Bt24bn this year, to push sales up to its goal of Bt14.9bn. (Khao Hoon, 20/02/13)
Comment: Yawn…zzzzz….over priced…
Asian Property’s upscale condo with a difference on Sukhumvit – Asian Property Development hopes to cash in on the limited availability of upscale condominiums on Bangkok’s Sukhumvit strip by introducing its first top-end tower, Galerie Rue de 39, worth Bt3.3bn. (The Nation, 20/02/13)
RATCH allots B10bn for 2013 projects, investments – The SET-listed Ratchaburi Electricity Generating Holding Plc (RATCH), Thailand’s largest private power producer, has set aside Bt10bn this year to fund ongoing and new projects, both at home and abroad. (Bangkok Post, 20/02/13)
Tisco plans TSR issue to maintain high dividend rate, capital – Tisco Financial Group will issue transferable subscription rights (TSRs) for 72.9mn shares to existing shareholders at Bt24 each, below the current stock price of more than Bt53. (The Nation, 20/02/13)
Comment: I’m still worried about their loan book..of their loans, 25% of the value represents their loan to SSI, a fairly risky bet if you ask me.