Raimon directors changed
Three directors yesterday resigned from Raimon Land's board after Singapore-based JS Oil acquired a 24.98-per-cent stake in the residential developer last week.
They were Kitti Tungsriwong, Hubert Romary Bertrand Viriot and Numan Mohamed Numan Mohamed.
Jason Goh Hseng Wei, Lee Chye Cheng Adrian and Nuch Kalyawongsa were named as the three new directors.
The board also approved the change in the names and numbers of directors authorised to sign on behalf of the company to any two of five directors, namely Lee Lionel, Tan Chin Kwang Johnson, Jason Wei, Lee Adrian and Nuch.
Lee Lionel told a press conference yesterday that his group spent Bt2.14 billion to buy 893 million shares at Bt2.40 each from IFA Hotels & Resort 3 Ltd.
“We will use Raimon Land to be our business based in Southeast Asia because we have a policy to expand investment in this region,” he said.
Raimon Land’s brand also well known. Its luxury residential projects match with the group’s business in this region, so the group decided to acquire the company from its existing shareholder, he said.
Yesterday, Raimon Land’s stock closed down Bt0.06 at Bt2.26 per share. JS Oil bought the stake on Friday.
JS Oil was incorporated in Singapore. It has issued and paid-up capital worth 10,000 Singapore dollars (Bt240,480). It has two directors, Lee Lionel and Lee Adrian. Its main business is portfolio investment.
Lee Lionel has, through JS Oil, acquired the 24.98-per-cent shareholding in the company.
Lee Lionel is a Singaporean entrepreneur who heads Ezra Holdings, an offshore oil and gas services company listed on the main board of the Singapore Exchange.
He has grown Ezra and other small and medium-sized enterprises into world-class, global players with listings in Singapore, Norway and Malaysia with total market capitalisation of nearly US$2 billion (Bt60 billion) and more than 5,000 staff worldwide.
In recent years, Lee Lionel has diversified his interests into real estate and hotel management with the successful development of the 30-storey Tower 15 in Singapore’s central business district that is now home to many well-known oil and gas companies, boutique hotel Klapsons and popular sky-terrace bar Fabrika.
