Mesa Thai gains 21.4% stake in Raimon Land

Mesa Thai gains 21.4% stake in Raimon Land

Mr Kris says the deal will open new opportunities.
Mr Kris says the deal will open new opportunities.

Investment firm Mesa Thai Pte Ltd has acquired a 21.4% stake in real estate company Raimon Land Plc by acquiring 893 million shares from existing shareholders.

The deal makes Mesa Thai the second-largest shareholder of Raimon Land, after KPN Land Co.

"Having Mesa Thai as Raimon Land's shareholder will help strengthen our leadership position in the luxury real estate market," said Kris Narongdej, chairman of the board at Raimon Land. "This collaboration will also open opportunities to expand into new business segments in the future."

Mesa Thai is owned by Kwee Liong Tek, chairman of Pontiac Land Group, a Singaporean developer with properties such as Ritz-Carlton Millenia Singapore, Conrad Centennial Singapore and Capella Sydney.

"Mesa Thai is pleased to become a significant shareholder of Raimon Land," the company said in a release. "We have strong confidence in Thailand's economy and see great potential in the business of Raimon Land.

"Our representatives to Raimon Land's board of directors look forward to working closely with its chairman and other directors, enabling the company to remain focused as a premier real estate developer."

Do you like the content of this article?

Govt to consider fresh stimulus measures to revive economy

The government is considering offering tax incentives to its middle and upper income groups to bolster consumption as part of new measures to revive an economy reeling under the impact of the coronavirus pandemic.


Thai workers leave for jobs in Israel

About 200 Thais left to work on farms in Israel on Wednesday on a flight arranged by the Labour Ministry, which declared the Covid-19 situation is "easing".


Beaches won’t reopen fully until vaccines become available

Thailand is set to welcome the first batch of foreign tourists in six months, but the government is unlikely to fully throw open beaches and national parks to overseas visitors until a vaccine against the coronavirus is widely available.