Hotelier Minor plans B25bn funding in pandemic-hit market

Hotelier Minor plans B25bn funding in pandemic-hit market

AVANI Hua Hin Resort & Villas is one of the hotels operated by Minor International. (Minor Hotels  photo)
AVANI Hua Hin Resort & Villas is one of the hotels operated by Minor International. (Minor Hotels photo)

SINGAPORE: Thailand's Minor International Plc, which operates brands such as Marriott and Four Seasons, plans to raise a total of 25 billion baht through perpetual bonds, a rights issue and 3-year warrants.

"Amidst the adverse impact on its operations from the global Covid-19 pandemic, MINT (Minor International) is taking a proactive approach to ensure its ability to service its obligations and to maintain its commitment to the quality of he balance sheet," the company said in a statement on Monday. 

The announcement came after the hotel and food group reported a first-quarter loss of 1.77 billion baht, versus a profit of 583.1 million baht a year earlier.

Minor said it has a portfolio of 529 hotels in 56 countries.


Do you like the content of this article?
COMMENT

Youngsters to get 1st shots on Monday

The Ministry of Public Health is ready to provide the first round of Pfizer's Covid-19 vaccine to children aged five to 11 on Monday at the Queen Sirikit National Institute of Child Health.

09:16

BoT seen among last to hike as Fed signals liftoff

Thailand's central bank is expected to be the last in Southeast Asia to lift rates, leading to one of the steepest yield curves in the region as other nations brace for the first Federal Reserve hike since 2018.

09:04

Judges uphold self-defence ruling in killing of activist

The Appeal Court on Wednesday upheld a Civil Court ruling dismissing a lawsuit filed against the army for compensation over the death of Lahu human rights activist Chaiyaphum Pasae, who was shot dead at a checkpoint in Chiang Mai province in 2017.

08:55