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MONDAY, December 05, 2022
THAI announces winning bid for sale of its Lak Si Office

THAI announces winning bid for sale of its Lak Si Office

TUESDAY, April 20, 2021

The Central Bankruptcy Court has allowed Thai Airways International Pcl (THAI) to sell its Lak Si Crew Training Centre consisting of land, buildings, excluding properties which are not the land and buildings component parts and other chattels, the airline said.

The property has to be sold on "as is where is" condition, which means bidders may not request THAI to construct, modify, or demolish any building or chattel on its property.

THAI announces winning bid for sale of its Lak Si Office

The Laksi Office is located at 425 Kamphaeng Phet Road, in the Don Muang district of Bangkok, covering a total area of 19 rai (3.04 hectares), 3 ngan (1,200 square metres) and 26 square wa (104sqm).

THAI conducted the sale of the Laksi Office through a bidding process and allowed bidders to submit their envelope on April 1.

THAI set up a Property Management Committee to monitor the sale process and thoroughly considered the offers through the selection process as set out in the Terms of Reference, assuring that the sale of property would undergo transparent and verifiable processes.

THAI announces winning bid for sale of its Lak Si Office

The committee evaluated the qualifications of each bidder before considering price proposals of the qualified bidders, and announced the highest offered price without disclosing the top bidder's name. Then, the bidders were allowed to alter their price and submit their final proposal on April 9.

After considering the final prices, THAI then negotiated the price, terms, and conditions with the winning bidder.

Energy Complex Co Ltd (EnCo), has won the bid at Bt1.81 billion and will enter into the property sale agreement and make a 10 per cent down payment within 15 days of the announcement. EnCo will also have to pay the remaining amount before or within the date of the ownership transfer and be responsible for fees relevant to the transfer registration, withholding tax, duty tax, and others (if any).

The Laksi Office is one of THAI's assets which was allowed to be sold under the Business Reorganisation process by the Central Bankruptcy Court. The proceeds from the sale will be utilised for the airline business operation in order to generate revenue for the company in the future.