CIMB Thai Bank, as the sole financial advisor and Krungthai Bank, as the co-lender, recently celebrated the success of Singha Estate Plc.\u2019s (\u201cSingha Estate\u201d) USD 310 million hotel acquisition deal. The collaboration is a testament of Singha Estate\u2019s confidence in CIMB Thai and Krungthai Bank\u2019s financial and business management excellence. <\/p>\n
Singha Estate CEO said the deal is part of the company\u2019s strategic investment approach of Smart M&A, which was another step by the company towards becoming a full-fledged premier property development and investment holding company.<\/p>\n
CIMB Thai Bank and Krungthai Bank held a joint event to celebrate the success of Singha Estate Plc., a premier property development and investment holding company domestically and globally, for the acquisition of six Asia Pacific Outrigger resort portfolios for the amount of USD 310 million (equivalent to approximately THB 10,334 million).<\/p>\n
Kittiphun Anutarasoti, President and CEO of CIMB THAI Bank, said \u201cCIMB Thai Bank is honoured to have played an instrumental role in this landmark deal for Singha Estate. Our customers\u2019 trust spurs us on to deliver the best bespoke solutions for our clients, backed by CIMB\u2019s deep in-house expertise and strong ASEAN network. We congratulate Singha Estate on realizing their journey to becoming a leading fully integrated premier property development and investment company.\u201d<\/p>\n
Parinya Patanaphakdee, First Senior Executive Vice President, Krungthai Bank, stated that Krungthai Bank is pleased to have been chosen by Singha Estate as its financial supporter all along. In this transaction, Krungthai Bank has played an important part in driving the initial public offering (IPO) plan for the hotel business and strengthening the company\u2019s business. The company\u2019s achievements of its past deals have reflected its potential and its management\u2019s broad vision in making investment decision on promising businesses. Krungthai Bank looks forward to witnessing and celebrating more accomplishments of the Company in the near future.<\/p>\n
Naris Cheyklin, Singha Estate CEO, said that as strategic direction of corporate roadmap to become a fully integrated premier property development and investment holding company with financial strength ready for future business opportunities. This acquisition will strengthen the company\u2019s financial status with immediate recognition of income that will generate sustainable return to the corporate portfolio and also support S Hotels & Resorts Co., Ltd., a subsidiary company, to prepare for its listing on the stock exchange as targeted. From this successful acquisition, Singha Estate has become an owner of six more hotels, comprising of Outrigger Laguna Phuket Beach Resort, Outrigger Koh Samui Beach Resort, Outrigger Fiji Beach Resort \u2013 Fiji, Castaway Island Hotel \u2013 Fiji, Outrigger Mauritius Beach Resort \u2013 Mauritius, and Outrigger Konotta<\/p>\n
Maldives Resort \u2013 Maldives, making up the company\u2019s total hotel and resort portfolio to 37 properties globally.
\u201cSingha Estate aims to become a global company and positions itself as a value investor, targeting to bring about total revenues of THB 20 billion by 2020. This strategic acquisition of Outrigger-branded hotels in four countries will generate recurring income and mitigate external risk to its hotel investment portfolio through diversification of its customer base and geographical locations across high-yield tourist destinations. With the strategic investment approach of SMART M&A, the company has recorded an asset growth of THB 40.9 billion, which exceeded the target set forth. Coupled with the large-scale investment in the Crossroads project in the Maldives, Singha Estate\u2019s total assets are expected to increase to as high as THB 60 billion and generate the targeted revenues in a shorter period of time,\u201d added Naris.<\/p>\n
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CIMB Thai Bank, as the sole financial advisor and Krungthai Bank, as the co-lender, recently celebrated the success of Singha Estate Plc.\u2019s (\u201cSingha Estate\u201d) USD 310 million hotel acquisition deal. The collaboration is a testament of Singha Estate\u2019s confidence in CIMB Thai and Krungthai Bank\u2019s financial and business management excellence. Singha Estate CEO said the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1973","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1973"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1973\/revisions"}],"predecessor-version":[{"id":4547,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1973\/revisions\/4547"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}