Singha Estate expected to announce acquisition of Nirvana
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Singha Estate, a property arm of Singha Corp, is expected to announce the takeover of high-end residential developer Nirvana Development next week. The company is holding a press conference on Monday about a deal with a "well-known real-estate firm".
An anonymous source from a brokerage house said Singha Estate’s acquisition was expected to extend its real-estate business and expand its market into high-end customers.
“Singha group’s takeover of Nirvana Development is part of its planned business expansion. The transaction value has not been finalised yet. Singha Estate also has other planned investments this year,” said the source.
An analyst at Asia Plus Securities said more mergers and acquisitions could be seen among property developers, particularly small ones.
Business acquisition is a quick way to increase a developer’s assets, said the analyst.
MINISTRY SEEKS ORBITAL SLOT FEE FOR THAICOM 7
Information and Communications Technology Minister Pornchai Rujiprapa yesterday said the ministry next month would discuss with Thailand’s sole satellite operator, Thaicom, a plan to ask the company to pay an annual orbital-slot fee for Thaicom 7.
The ministry plans to slap the fee on all Thai satellites not under its concession, saying it incurs a cost for reserving orbital slots.
Thaicom 7, which went into orbit last September, is the first satellite launched under a National Broadcasting and Telecommunications Commission licence.
IMPROVED GROWTH EYED FOR INSURANCE SECTOR
The Office of the Insurance Commission expects the industry to return to double-digit growth this year, as life insurers offer simpler protection features to retail customers.
Secretary-general Prawet Ong-atsitthikun said yesterday that overall premium income was expected to reach Bt787.4 billion, up 12 per cent year on year.
Premium income from life insurance is targeted at Bt563.7 billion, 13 per cent higher than in 2014, while that from non-life insurance is forecast at Bt223.7 billion, up 9 per cent.
Apart from simpler features for life-insurance protection, distribution channels have been made more convenient in a bid to access individual customers, he said.
CORPORATE BOND ISSUANCE FORUM ON MARCH 10
The Securities and Exchange Commission has joined with the Thai Bond Market Association (ThaiBMA) to launch the “One Step Beyond with Bond Issue” project, aimed at enhancing the competitiveness of businesses never previously having issued bonds to raise funds.
The project aims to encourage such businesses to consider the capital market as a useful channel for fund-raising and cost restructuring, while a discounted fee will be offered to lessen the cost of issuance.
Vorapol Socatiyanurak, SEC secretary-general, said the commission and ThaiBMA had arranged a forum for business operators to exchange views and experiences with institutional investors and seek further cooperation.
The March 10 event, to be held at the SEC’s office on Vibhavadi-Rangsit Road, will include panel discussions on the bond-market outlook, how to choose suitable fund-raising activities, procedures for offering bonds for sale, and sharing of bond issuers’ experiences.
The afternoon session will comprise a “Bond Fair 2015”, attended by financial advisers, bond underwriters and asset-management companies seeking investment in new bond issues.
“To date, only 219 companies have issued bonds, comprising 124 listed and 95 non-listed firms. Bond issuance could help diversify fund-raising for cost restructuring while interest rates are low and steady,” Vorapol said.
Entry is free for businesses considering bond issues. Reservations can be made by calling (02) 263 6023 or (02) 695 4674.
