Ticon, Jojana, Asia Industrial form joint venture
Three land development and real-estate companies have joined forces to create TRA Land Development Co Ltd to expand investment in real-estate development.
According to a report on Monday to the Stock Exchange of Thailand, TICON Industrial Connection Plc's board of directors has approved the creation of TRA Land Development Co Ltd, as a joint venture firm between TICON, Rojana Industrial Park Plc, and Asia Industrial Estate Co Ltd for engaging in the real estate development business.
The joint venture firm has registered capital of Bt1 million, and is 50 per cent held by TICON Industrial Connection Plc, 25 per cent by Rojana Industrial Park Plc, and the remaining 25 per cent by Asia Industrial Estate Co Ltd.
The company’s board of director also approve providing a short-term loan worth Bt225 million to the joint venture firm, while Rojana Industrial Park Plc, and Asia Industrial Estate Co Ltd each provided Bt112.5 million worth of land to the joint venture, according to the company report.
