News Feed

Ingress Industrial (Thailand), a SET-listed maker of auto parts and a leading player in the Asean market, has made further inroads into the Indian automotive industry with the full acquisition of its joint venture in the country. 
Chief executive officer Abdul Rahim bin Haji Hitam said Ingress, a 40 per cent owner of Ingress Mayur Auto Venture private Ltd (IMAPL), had agreed to acquire the remaining 60 per cent of the joint venture for Bt82.6 million via an IPO, which would value the company at Bt137.7 million.
The acquisition will further boost the botton line of IMAPL which has been operating profitably for the last three years. It will also enable the company to expand its presence in India’s large and fast-growing automotive market with a total of 4 million cars expected to be |produced this year, a 14.3 per cent increase from 3.5 million in 2016. 

HUB OF HEALTH 

Stadium One, Thailand’s first and Southeast Asia’s largest lifestyle hub for the health-conscious, is scheduled for opening in November.

Costing Bt200 million in investment and located in the city centre, it will serve as one-stop shopping venue. 
The project is the brainchild of four sports-loving executives wanting to promote an active lifestyle and ensure the neighbourhood thrives as an athletic, health-conscious community, said Sittichai Srisanguansakul, Stadium One’s executive director. They founded The Sports Society, which later won a bid for a 1.6-hectare concession from Chulalongkorn University by emphasizing the neighbourhood’s past as a gathering ground for sports enthusiasts.