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Natural Park has been in a beleagured condition for several years as it strived to repay its external loans, and its survival seemed in question for a period.
Company executives said in a statement filed with the Thai stock market that the selling price of the asset is higher than the book value, which hopefully presages stronger financial stability.
Natural Park expects to alleviate its debt burden further when it hopes to make about $50 million from selling shares in subway operator Bangkok Metro, in the anticipated IPO (see related story). Natural Park holds a total stake of 14.5% in that subway company.
Two months ago, Lehman and others snapped up 51% of Thai hotelier Grande Asset for about $80 million. This was a remarkable achievement for the seller as the companyÆs market capitalisation was just a third of that level only six months before.
It has just been revealed that the investment banker marshalling that deal was none other than the heavyweight Bangkok financier, Bob McMillen, a redoubtable Big Mango veteran, whom, in his Seamico days, masterminded victories in FinanceAsiaÆs award for Thai broker of the year three years running. His new corporate finance company McMillen Advantage Capital is the flagship of his newly established MAC Group and he is understood to be headquartered currently in Dubai.
Fancy a holiday chez Lehman? The Phuket hotel rooms are going for about $60 per night. However, the hotel is located quite a long way from the nightlife of Patong.
As a pioneer in the Australian super space, CSC continues to focus on core objectives while taking calculated risks in an uncertain macro-economic environment.
The Asset Management Awards seek to recognise outstanding achievements among Asia Pacific-based fund and asset managers. Entries are open from now until March 4, 6pm HKT.
Some have accused Sri Lanka of falling into China’s “debt trap", but the South Asian nation refuses to put all of its eggs in China’s basket.
Hong Kong’s Mandatory Provident Fund recorded investment losses for 2021 as local and mainland Chinese equities underperformed, but experts eye other headwinds for the coming year.