As of 11:41 local time in Thailand, the share price of Gunkul Engineering Public Company Limited (GUNKUL) rose ฿0.22/share or 4.62% to ฿4.98/share with a trading value of 2,428 million baht.
Meanwhile, the share price of Origin Property Public Company Limited (ORI) rose ฿0.15/share or 1.72% to ฿8.85/share with a trading value of 102 million baht.
GUNKUL and ORI edged higher in the morning session of July 16, 2021 following the announcement of a strategic partnership in solar energy development for condo and housing in ORI’s group.
ORI has announced that the company approved Origin Energy Company Limited, a subsidiary of ORI (the company holds 100% of the shares), to establish Origin Gunkul Energy Company Limited, a new registered joint venture company with GUNKUL.
The new joint venture has a registered capital of 1 million baht whereas subsidiaries of ORI and GUNKUL will each hold 49.99% of shareholding, while ORI’s Mr. Peerapong Jaroon-ek and GUNKUL’s Ms. Naruechon Dhumrongpiyawut will hold 0.01% of shareholding each.
The objection of this joint venture is to co-develop and invest in selling electricity projects from Solar Rooftop, EV Charger and Parity Energy Trading in Condominium and Housing development which were developed, built and managed by ORI and/or its affiliates.