UK firm Travelex, Thai firm form JV for foreign exchange trading
UK-based firm Travelex Ltd will invest Bt68.20 million to form a foreign exchange trading company in Thailand in partnership with listed Thai company Aira Capital (AIRA).
Nalinee Ngamsettamas, chief executive officer of AIRA, said the board of directors had approved the creation of a joint venture company with Travelex to be called Travelex (Thailand) Limited.
The JV will have a registered capital of Bt110 million with the UK firm holding a 62-per-cent stake and AIRA holding the remainder 38 per cent.
Travelex Ltd currently services more than 80 foreign currencies in more than 50 countries. It has more than 1,500 stores and more than 1,400 ATMs worldwide.
Travelex also offers pre-paid currency cards as a multi-currency cash passport to facilitate cash transactions in 10 foreign currencies from ATMs for travellers. In case the customers need to top up the amount of currency on their card, they can reload via online or at any Travelex store.
