Country Group sets aside Bt6 bn for investments
COUNTRY GROUP Holdings (CGH), the newly restructured company owned by the Taechaubol family, has reserved Bt6 billion to acquire businesses and invest in potential opportunities both locally and overseas.
Under its plan, the listed group targets the entire business growing by double digits annually over the next few years, and becoming a top-50 company on the Stock Exchange of Thailand (SET) by 2020.
Tommy Taechaubol, chief executive officer of CGH, yesterday said that the group had completed a two-year restructuring process turning it from a securities brokerage firm into an investment holding company.
Meanwhile, the new holding company, which has already increased its registered capital from Bt2.36 billion to Bt4.33 billion, is looking for companies to acquire with a targeted internal rate of return of 15 per cent, he said.
Post restructuring
“After completing our restructuring, CGH as the holding company has prepared Bt6 billion, excluding loans if needed, for new investment in any potential businesses,” the CEO said.
The group is, however, likely to focus on real estate, energy and investment overseas in its short-term investment plan, he added.
CGH will work with it sister companies – Country Group Security, MFG Asset Management, Padaeng Industry, and Country Group Development – to invest in or expand businesses via a variety of options, including joint ventures and acquisitions.
The company will seek new investment in all potential markets, Tommy said, adding, “We are quite ready, as we are now an investment firm and have many subsidiary companies that are keen [to invest] in various sectors. We are aiming to be the fastest-growing company in the SET.”
The group plans to use 15 per cent of its allocated investment sum for short-term investment, with the remainder set aside for the long term, he said.
“Under its restructuring plan, the group has emphasised that it is not only focusing its acquisition targets on the financial sector, but also on well-established companies in the property, energy and hospitality sectors, both foreign and local. By balancing the requirements for stable income and growth, the company looks to be a ‘one-stop’ investment solution for shareholders seeking a stable investment with potential for capital gains,” the chief executive explained.
CGH, meanwhile, will maintain a lean organisation for the holding company, whilst utilising its large network consisting of hundreds of investment professionals, he said.
