London property deals central to Singha strategy
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SINGHA Corp is expanding its real-estate empire beyond Thailand, with the allocation of a significant investment budget for acquiring properties, particularly hotels, in London.
Entering the London property market is one of the key business strategies handed to all senior executives by Santi Bhirombhakdi, president of the company.
“We see the UK as a strategic country in Europe that we have to enter. We have just acquired four restaurants in London.
The acquisition of any properties in London is undertaken by our real-estate arm – Singha Estate,” Bhurit Bhirombhakdi, director of Singha Corp, said yesterday.
He said the company had received proposals from many property owners in London over possible acquisitions.
The diversification of Singha Corp, which manufactures Singha and Leo beers, into food and other beverage products, as well as businesses such as property and energy, is in line with a policy to catch up with trends and new business opportunities.
The move is aimed at overcoming any limitations and barriers in operating its brewing business.
Singha Estate previously announced a plan to invest Bt100 billion in developing property projects over the next five years, including hotels, homes, office and retail buildings, said its chief executive officer, Naris Cheyklin.
The company is looking for joint-venture and acquisition deals with local partners in Thailand and beyond, and more than half the budget will be allocated for mergers and acquisitions.
Bhurit said Singha Corp had also invested about Bt5 billion in its manufacturing plant for beer and drinking water at Bang Len district, Nakhon Pathom.
To be completed this year, the expansion will increase beer capacity by 50 per cent, and will serve the company’s penetration into potential CLMV (Cambodia, Laos, Myanmar and Vietnam) markets, as well as elsewhere in the Asean Economic Community.
