FPT Joins “Mitsui Fudosan” to Establish 2 Subsidiaries, Aiming for Warehouse Management
FPT has entered into a joint venture with “Mitsui Fudosan” to establish two new subsidiaries, aiming for warehouse management.
Frasers Property (Thailand) Public Company Limited (FPT) has announced that on April 26, 2019, Frasers Property Industrial (Thailand) Co., Ltd. (FPIT), subsidiary of FPT, entered into a Joint Venture Agreement with Mitsui Fudosan Asia (Thailand) Co., Ltd. (MFAT), the company investing in real estate development projects, to jointly develop and manage warehouses for rent and logistics facilities in Thailand through the two established joint venture companies.
1) Bangpakong Logistics Park Company Limited with a registered capital of THB 295,600,000, divided into 29,560,000 ordinary shares with a par value of ฿10.00/share. FPIT will hold 51% stake while MFAT will hold 49% stake.
2) Wangnoi Logistics Park Company Limited with a registered capital of THB 1,000,000, divided into 100,000 ordinary shares with a par value of Baht 10 per share. FPIT will hold 51% stake while MFAT will hold 49% stake.