Hemaraj Land and Development (HEMRAJ), the country's leading industrial estate developer, brushed aside reports that it plans to raise funds through a soon-to-launch property fund in the next few years, saying cash from operations is sufficient for a six-year investment plan.
Paopitaya Smutrakalin, the director of planning and investor relations, denied reports last week that the company wants a property fund to finance future projects and investment plans to prepare for the Asean Economic Community.
"Well, we like the idea of a property fund, actually. But the company has no plans to finance investment by launching a property fund within the next few years," said Mr Paopitaya.
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