Singha Estate Public Company Limited (S) informs shareholders through the Stock Exchange of Thailand (SET) that on August 22, 2018 S Residential Development Company Limited (“SRD”), a 99.99% subsidiary of S, has entered into a joint venture agreement with DH Asia Investment Orchid PTE. LTD (“DHO”), a 100%-owned subsidiary of Daiwa House Industry Company Limited (“Daiwa Group”), to jointly invest in S43 Property Company Limited (“S43”), a subsidiary that S holds 49% stake, and SRD holds 51% stake, to develop a luxury condominium project on Sukhumvit 43 Road (“EYSE Sukhumvit 43”).
In the agreement, DHO will purchase S43 shares which are directly held by S in an amount of 49.00%. As a result, SRD and DHO will hold 51.00% and 49.00%, respectively.
The registered capital of this project is 157.5 million baht, comprising 1,575,000 ordinary shares, with a par value of ฿100 each.