TFMAMA Joins ANAN to Invest ฿2bln. in Property Development Companies

"MAMA" combines its forces with "ANAN" to establish 3 new joint venture companies with the total capital of ฿2bln.

Thai President Foods Public Company Limited (TFMAMA) has engaged with Ananda Development Public Company Limited (ANAN) to establish 3 new joint venture companies through its subsidiary, President D Venture Co., Ltd., which TFMAMA holds 70% of capital.

The 3 joint venture companies consist of Ideo Mobi Rangnam Co., Ltd, Ideo Q Sukhumvit 36 Co., Ltd, and Ideo New Rama 9 Co., Ltd. The investments are due to the purpose of holding shares in property development company.

The details of the new established companies are as follow:

 

IDEO Mobi Rangnam Co., Ltd.
Registered Capital: ฿795,990,000 divided into 7,959,900 ordinary shares at the par value of ฿100/share.
President D Venture Co., Ltd. holds 49.00% of total ordinary shares of IDEO Mobi Rangnam Co., Ltd, and Ananda (which is not a connected person of TFMAMA) holds 51.00% of total ordinary shares of IDEO Mobi Rangnam Co., Ltd

 

IDEO Q Sukhumvit 36 Co., Ltd.
Registered Capital: Baht 664,430,000 divided into 6,644,300 ordinary shares at the par value of 100 Baht per share.
President D Venture Co., Ltd. holds 49.00% of total ordinary shares of IDEO Q Sukhumvit 36 Co., Ltd. and Ananda (which is not a connected person of TFMAMA) holds 51.00% of total ordinary shares of IDEO Q Sukhumvit 36 Co., Ltd.

 

IDEO New Rama 9 Co., Ltd.
Registered Capital: Baht 599,670,000 divided into 5,996,700 ordinary shares at the par value of 100 Baht per share.
Shareholding Structure: President D Venture Co., Ltd. holds 49.00% of total ordinary shares of IDEO New Rama 9 Co., Ltd. and Ananda (which is not a connected person of TFMAMA) holds 51.00% of total ordinary shares of IDEO New Rama 9 Co., Ltd.

 

After the establishment of IDEO Mobi Rangnam, IDEO Q Sukhumvit 36, and IDEO New Rama 9, the joint venture company will invest in shareholding of property development company as per following details,

 

IDEO Mobi Rangnam will purchase the shares of Ananda MF Asia Ratchaprarop Co., Ltd. (AMF Ratchaprarop), which is TFMAMA engaging in the business of property development in IDEO Mobi Rangnam Project, in the amount of 74% of total shares from Ananda, totaling to ฿402,892,891, and receive the right and obligation under the loan agreement from Ananda, upon which Ananda has provided AMF Ratchaprarop with the loan for project development in the amount of ฿226,792,767 for the total repayment of principal and relevant interest.

 

IDEO Q Sukhumvit 36 will purchase the shares of Ananda MF Asia Thonglor Co., Ltd. (AMF Thonglor), which is TFMAMA engaging in the business of property development in IDEO Q Sukhumvit 36 Project, in the amount of 51% of total shares from Ananda, totaling to ฿339,751,689, and receive the right and obligation under the loan agreement from Ananda, upon which Ananda has provided AMF Thonglor with the loan for project development in the amount of ฿109,863,781 for the total repayment of principal and relevant interest.

 

IDEO New Rama 9 will purchase the shares of Ananda MF Asia Ramkumhaeng Co., Ltd. (AMF Ramkumhaeng), which is TFMAMA engaging in the business of property development in Ideo New Rama 9 Project, in the amount of 51% of total shares from Ananda, totaling to ฿303,136,242, and receive the right and obligation under the loan agreement from Ananda, upon which Ananda has provided AMF Ramkumhaeng with the loan for project development in the amount of ฿183,945,123 for the total repayment of principal and relevant interest.

 

TFMAMA foresees that the entering into this transaction, using company’s cash flow, will be beneficial to the company in expanding business opportunity and in returning of dividend payment from such 3 companies after having continuous revenue from their investment project, thus increasing future income and net profit of TFMAMA.

 

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