http://www.singhaestate.co.th/About-Us/Corporate-Timeline


Singha Estate
Public Company
Limited
was formerly known as Rasa Property Development Plc. The Company was founded on August 14, 1995, under the former name of “Panichpoom Pattana Company Limited” with an initial paid-up capital of Baht 10 million.
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The main objective was to engage in property development for housing estates and condominiums. The Company later underwent a name change to Rasa Property Development Plc, with listing on SET (Stock Exchange of Thailand) since April 30, 2004, under the RASA ticker symbol.

On September 12, 2014, the Company completed its business integration by entire business transfer (“EBT”) whereby the Company accepted a transfer of ordinary shares in Santiburi Co., Ltd. (“STB”) and ordinary shares in S Bright Future Co., Ltd. (“SBF”) from Mr. Santi Bhirombhakdi and Singha Property Management Co., Ltd.1 (“SPM”), respectively. At the same time, as payment in kind for such EBT, the Company issued its new ordinary shares to Mr. Santi Bhirombhakdi and SPM in exchange for the STB’s share SBF’s shares, respectively. On the same day, the Company underwent a name change to Singha Estate Public Company Limited and a change of Company’s seal. The above mentioned transactions were in accordance with the Company’s business integration plan approved by the Extraordinary shareholders’ Meeting No.1/2557 on June 9, 2014.

1Singha Property Management (Singapore) Pte. Ltd. is a wholly owned subsidiary of Singha Property Management Co., Ltd., which owns all its paid-up shares
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1995
TO
2003
  • 1995-2003
  • 2004-2007
  • 2011-2013
  • 2014
  • 2015
  • 2016
  • 2018
August 14, 1995
  • Formed a company with Baht 10 million in registered capital.
March 31, 2002
  • Increased the registered capital from Baht 10 million to Baht 20 million, with all shares fully paid up at par value of Baht 100 per share.
October 27, 2003
  • Further raised the registered capital from Baht 20 million to Baht 30 million, with all shares fully paid up.
April 30, 2004
  • Changed the Company name from Panichpoom Pattana Co., Ltd., to Rasa Property Development Co., Ltd., and then transformed into a public company. The registered capital was increased further to Baht 375 million from Baht 30 million, poised for public offering of 15 million shares. Listed on The Stock Exchange of Thailand (“SET”) and split par value from Baht 100 to Baht 5.
March 12, 2006
  • Decreased the registered capital from Baht 375 million to Baht 300 million, and then increased them to Baht 400 million.
April 12, 2007
  • Trading began on SET under the “RASA” security symbol.
March 16, 2011
  • Split par value from Baht 5 to Baht 1 per share.
April 27, 2012
  • Increased the registered capital from Baht 400 million to Baht 500 million.
May 3, 2013
  • Decreased the registered capital from Baht 500 million to Baht 499,999,986.
May 7, 2013
  • Increased the registered capital from Baht 499,999,986 to Baht 599,999,986.
June 9, 2014
  • The shareholders’ meeting approved a business integration plan with Santiburi Co., Ltd., and S Bright Future Co., Ltd., by entire business transfer.
September 12, 2014
  • Issued 4,162,352,331 capital-increase common shares, allocating 2,932,405,804 shares to SPM and SPM SG as payment in kind for the shares of S Bright Future Co., Ltd., in lieu of cash, and allocated 1,229,946,524 shares to Mr. Santi Bhirombhakdi as payment in kind for the shares of Santiburi Co., Ltd., in lieu of cash. Such transactions resulted in the SPM Group, 99.99% owned by Boon Rawd Brewery Co., Ltd., and Mr. Santi Bhirombhakdi became new major shareholders of the Company.
  • Underwent a name change to Singha Estate Plc.
September 18, 2014
  • Underwent an SET security symbol change from “RASA” to “S”.
April 4, 2015
  • The 2015 Annual General Meeting of Shareholders, held on April 22, 2015, approved the following transactions:
    1. A 51% investment in Nirvana Development Company Limited (“Nirvana”), a well-established landed residential developer under the brand “Nirvana”
    2. An increase of regi s tered capi tal of Baht 2,635,940,054 to the total registered capital of Baht 7,348,290,786, to support the investment in Nirvana and the rights offering, and to be reserved for the exercise of warrants “S-W1”
    Invested in 51% stake in Nirvana for a total investment of 2,091 million baht, by 1) acquiring ordinary shares of Nirvana from the existing shareholders, for which the Company paid in kind with newly issued ordinary shares of the Company (Share Swap), and 2) subscribing newly issued ordinary shares of Nirvana and paying in cash.
June 6, 2015
  • Completed the rights offering and the allocation of S-W1 warrants, in accordance with the 2015 AGM resolution.
August 8, 2015
  • Invested in Suntowers Office Complex (“Suntowers”) – a Grade-B twin-towered offices on Vibhavadi-Rangsit Road, with a total investment of 4,500 million baht. (see details under “Our Projects”.)
September 8, 2015
  • The Extraordinary General Meeting of Shareholders No. 1/2015, held on September 30, 2015, approved the following transactions:
    1. The investment in Singha Complex Project – a mixed-use commercial complex – located at the corner of Asoke Montri Road and New Phetchaburi Road, with a total investment cost of not exceeding 4,255 million baht (see details under “Future Projects”)
    2.The lease of certain office building areas in Singha Complex Project to Boon Rawd Brewery Co., Ltd. and/or its subsidiaries (“Boonrawd Group”) for a total lease period of 50 years, with an approximate total rental fee of 1,900 million baht.
October 10, 2015
  • Launched “The Esse Asoke” – a 4,500-million baht project-value luxury condominium located on Asoke Montri Road which is the first residential project developed by the Company after the business integration. (see details under “Future Projects”.)
    Invested in 26 hotels under “Mercure” brand in the United Kingdom through a 50%-stake joint-venture company. Total investment is approximately 155 million GBP or 8,600 million baht. (see details under “Our Projects”)
November 11, 2015
  • Phi Phi Island Village Beach Resort launched 45 new villas with a new swimming pool (the second swimming pool of the hotel) to enhance its competitiveness and support the continuous growth of tourists.
April, 2016
  • The 2016 Annual General Meeting of Shareholders, held on April 26, 2016, approved an increase in registered capital of Baht 1,624,715,129 by issuing 1,624,715,129 new ordinary shares (with a par value of Baht 1 per share) for a total registered capital of Baht 8,973,005,905.
June, 2016
  • Completed the rights offering of 738,382,027 ordinary shares at Baht 5.00 per newly issued ordinary share.
  • Registered the Baht 738,382,027 increase in paid-up capital to the total issued and paid-up capital of Baht 6,453,719,295.
September, 2016
  • Invested in a 3-hotel portfolio in the United Kingdom (UK) through a 50%-stake joint-venture company with a total investment of approximately 12 million pounds.
  • S Hotels and Resorts Inter Co., Ltd. (a 99.99%-owned subsidiary), as service provider, entered into a Master Service Agreement with Singha Property Management (Singapore) Pte. Ltd. (the Company’s major shareholder), as service receiver, to provide project management service to the tourist facilities development project on the Republic of Maldives’s Emboodhoo Lagoon. Under the agreement, beside receiving service fee of about 276 million baht, the Company is allowed to invest in assets in the project by means of acquiring partial rights of head lease and/or subleasing assets in the project under the option to purchase and/or the rights of first refusal.
November, 2016
  • Purchased a 2.5 rai of land located at the entrance of Sukhumvit Soi 36, Sukhumvit Road (adjoining BTS Thonglor station) for the development of a super-luxury condominium project.
December, 2016
  • After completing its value-enhancement project, Phi Phi Island Village Beach Resort launched 100 new-look villas (which had been closed for refurbishment in stages from June to November 2016) to support continuous growth in tourists and enhance its competitiveness.
  • Extraordinary General Meeting of Shareholders No. 1/2016, held on December 16, 2016, approved the investment in Daii Group Public Company Limited.
Based on Singha Estate’s vision aiming for sustainable growth, our 2018 highlights included the following:
FEBRUARY
  • Launch of The ESSE Sukhumvit 36
    Singha Estate launched the super-luxury condominium project, the first project under a joint investment with HKL (Thai Developments) Limited, a subsidiary of Hongkong Land Holdings Limited, with the investment ratio of 51:49 and a project value of over 6,400 million Baht. The project lies at the entrance to Sukhumvit Soi 36, next to BTS Thong Lor Station. With its proximity to a central business district, the project commands high business potential and is surrounded by amenities. Construction is set for completion and unit ownership transfer can begin in the fourth quarter of 2020.
MARCH
  • Permission of land purchase around Rang Nam Road
    The Board of Directors passed a resolution to permit the purchase of land around Rang Nam Road in Bangkok, with an approximate area of 2 rai to develop an affordable luxury condominium project. The project is located in a high potential area near a BTS Station via numerous and easily accessible routes. This is a condominium-type residential area with rapid growth and surrounded by amenities. It also draws considerable interest from the investors. Its location is figured in Singha Estate’s five-year development plan of condominium-type residential projects. Income is expected to start coming in 2022, resulting in the Company’s income growth that will reach the planned investment ratio.
APRIL
  • Issuance and offering of ESOP-Warrant-3
    The 2018 AGM of April 25, 2018, approved issuance and offering of warrants of Singha Estate to be issued and offered for sale to the directors and employees and/or subsidiaries No. 3 (ESOP-Warrant-3) in order to boost their morale and sense of ownership.
  • Santiburi Koh Samui’s additional villas
    Singha Estate built 19 additional villas in Santiburi Koh Samui to accommodate consumer increased demand for villas. It is also the Company’s policy to increase value and upgrade assets.
MAY
  • Resolution to reduce registered capital
    The 2018 AGM of April 25, 2018, passed an important resolution to permit the reduction of the registered capital of 100 million Baht from the previously registered capital of 10,228,502,526 Baht to 10,128,502,526 Baht by omitting 100 million shares of the yet unsold registered ordinary shares at one Baht per share. These were the shares issued to accommodate the allocation of newly issued ordinary shares to limited persons (general mandate).
  • Launch of Marine Discovery Center and Toh Wai Wai activity
    In order to foster sustainability development in Phi Phi Island, where Phi Phi Island Village Beach Resort is located, Singha Estate hosted the Toh Wai Wai activity to restore balance to nature from the sky to the ocean, fostering balanced co-existence in communities and the environment. It also enhances the “Phi Phi Model”, which is the model of the national coral plan. Moreover, the Company launched the Marine Discovery Center, which is a knowledge center of marine animals for surrounding communities in line with Singha Estate’s sustainable development strategies and with the United Nations’ SDGs.
JUNE
  • Investment in six Outrigger hotels and resorts
    Singha Estate invested in six hotels and resorts in four countries from Outrigger Hotels Hawaii, according to a resolution of the meeting of the Board of Directors No. 3/2018 of February 26, 2018, with a total investment value of USD 235.39 million (Details of the assets under “Our Projects in 2018”. The six hotels and resorts are assets with huge potential located in the countries that have enjoyed continuous growth of the tourism industry and will create long-term recurring income for the Company. They also serve to diversify risks in hotel and resort businesses in line with the strategies of Singha Estate’s hotel business operation, which focus on investment in hotels and resorts located in tourist destinations.
  • Singha Estate and partners in Suntowers launched #SeaYouTomorrow
    With Singha Estate’s philosophy of sustainable development to maintain balance and enhance sustainability in all communities surrounding its operation, the Company and its partners in Suntowers jointly held a #SeaYouTomorrow campaign for reduction of plastic waste and proper selection of waste to reduce waste from cities to the ocean on World Oceans Day. It also held activities to inspire employees, trading partners, and people living around Suntowers to change their behavior toward sustainable use of plastics, livable communities, and recommended a model of office society.
AUGUST
  • Singha Estate set up two subsidiaries: S KLAS Management Co., Ltd. and S Park Property Co., Ltd.
    With a focus on its strategic move and branding, the Company made investment by setting up a subsidiary to accommodate business expansion in property management, namely S KLAS Management Co., Ltd., and the other subsidiary to accommodate the development of a new condominium project, namely S Park Property Co., Ltd. The establishment of the two companies would increase Singha Estate’s expectation of organizational efficiency, especially potential for project development and services toward its targets.
  • Singha Estate’s joint venture with Daiwa House
    S Residential Development Co., Ltd. (“SRD”) (99.99% - owned subsidiary), signed an investment agreement to develop a luxury condominium project on Sukhumvit 43 Road with DH Asia Investment Orchid PTE. LTD. under Daiwa House Group. The joint investment provided the opportunity for Singha Estate to acquire knowledge on Daiwa Group’s business operation with its expertise in the construction of prefabricated houses that would strengthen Singha Estate’s product development. This was in line with the corporate strategies to seek potential partners and in line with Singha Estate’s business operation (Smart M&A) to enhance the project’s efficiency and meet the demand of consumers.
  • Singha Estate entered into a Master Service Agreement to provide services for the development of the CROSSROADS Project Phase 2
    Singha Estate signed a Master Service Agreement and a Business Development Advisory Service Agreement with Singha Property Management (Singapore) Pte. Ltd. to provide services for the project development and counseling on the business development of the CROSSROADS Project Phase 2. As Singha Estate Group had expertise in the development of the property business, as well as management of property projects, the compensation based on the contracts would increase liquidity and provide positive impacts on the Company’s performance due to the ability to use existing resources as well as the expertise and experience of the executives and employees providing the services.
SEPTEMBER
  • Singha Estate launched its first low-rise condominium project: “EYSE Sukhumvit 43”
    Singha Estate launched the grand opening of EYSE Sukhumvit 43, which was its first luxury low-rise condominium project located on Sukhumvit Soi 43. Despite its prime location right in Phrom Phong area and next to Asoke and Thong Lor areas, there is little traffic and thus provides high level of privacy. Singha Estate viewed the project as compatible with its strategic plan of “Best in Class” delivery to consumers. It expected that unit ownership transfer and booking of income could begin by the end of 2020.
  • Singha Estate launched an ultra-luxury single-detached house project: SANTIBURI THE RESIDENCES
    As part of the strategic move to develop Singha Estate as a leading and best brand, the Company launched the ultra-luxury Santiburi The Residences with made-to-order houses on land of one rai or more with an average gross floor area of 1,250 square metres. The project value was over 5,500 million baht. Design and material quality were outstanding, with world-class services for residents. The project is also located in a high-end residential area surrounded by amenities and with easy access to Pradit Manutham Road.
  • Singha Estate notified the Standby Letter of Credit Backed Convertible Bonds
    Singha Estate publicized the “USD 180,000,000 2.00% Standby Letter of Credit Backed Convertible Bonds due 2022” from the previous 4.99 baht to 4.60 baht in accordance with the key terms and conditions of the convertible bonds, based on reference prices.
OCTOBER
  • Authorization of investment in the office building and retail space
    The Board of Directors approved an investment to develop office space and retail space (“OASIS Project”) with a net leasable area of 53,000 square metres with a total investment of 3,695 million baht. It is located on an area of approximately 7 rai on Vibhavadi Rangsit Road. The project commands high business potential with the growing demand for office buildings and is surrounded by amenities, including convenient access to transportation, next to expressways, the MRT, and BTS Stations. The project would enhance our income security and contribute to the strong growth of our investment.
  • Singha Estate entered into a Marketing Support Service Agreement for the development of the CROSSROADS Project Phase 2
    Singha Estate entered into a Marketing Support Service Agreement with a subsidiary of Singha Property Management (Singapore) Pte. Ltd. to provide marketing services for the CROSSROADS Project Phase 2. The project would benefit the formulation of marketing strategies of the CROSSROADS Project Phase 1 and Phase 2 toward the same direction in view of promoting the general image of the project and Singha Estate Group for maximum effectiveness.
  • Singha Estate approved the establishment of a trust via S Reit Management Co., Ltd.
    The Board of Directors approved S Reit Management Co., Ltd.’s establishment of a trust to invest in the right of property lease S Prime Growth (“SPRIME”) and submitted a permission form to sell the SPRIME to SEC. If permitted, it would result in the reduction of some of the Company’s assets and that of the right of management of Suntowers. But the operation would increase the working capital and aligned with our strategies of strong growth.
NOVEMBER
  • Singha Estate was honored by the 2018 ASEAN CG Scorecard Project
    Singha Estate was nominated to receive an award under the ASEAN CG Scorecard Project for being a Thai listed company with assessment at the level of TOP2 Most Improved PLCs (Thailand). In other words, it was recognized as a listed company with outstanding CG development.
DECEMBER
  • Launched of “Singha Complex”
    On December 12, 2018, Singha Estate launched the grand opening of Singha Complex, which was the Company’s first luxury mixed-use project.
  • Singha Estate transferred the ownership of The ESSE Asoke
    Singha Estate began ownership transfer of The ESSE Asoke, which would allow Singha Estate to book income from this project of approximately 1,155 million baht this year.
August 14, 1995
  • Formed a company with Baht 10 million in registered capital.
March 31, 2002
  • Increased the registered capital from Baht 10 million to Baht 20 million, with all shares fully paid up at par value of Baht 100 per share.
October 27, 2003
  • Further raised the registered capital from Baht 20 million to Baht 30 million, with all shares fully paid up.
April 30, 2004
  • Changed the Company name from Panichpoom Pattana Co., Ltd., to Rasa Property Development Co., Ltd., and then transformed into a public company. The registered capital was increased further to Baht 375 million from Baht 30 million, poised for public offering of 15 million shares. Listed on The Stock Exchange of Thailand (“SET”) and split par value from Baht 100 to Baht 5.
March 12, 2006
  • Decreased the registered capital from Baht 375 million to Baht 300 million, and then increased them to Baht 400 million.
April 12, 2007
  • Trading began on SET under the “RASA” security symbol.
March 16, 2011
  • Split par value from Baht 5 to Baht 1 per share.
April 27, 2012
  • Increased the registered capital from Baht 400 million to Baht 500 million.
May 3, 2013
  • Decreased the registered capital from Baht 500 million to Baht 499,999,986.
May 7, 2013
  • Increased the registered capital from Baht 499,999,986 to Baht 599,999,986.
June 9, 2014
  • The shareholders’ meeting approved a business integration plan with Santiburi Co., Ltd., and S Bright Future Co., Ltd., by entire business transfer.
September 12, 2014
  • Issued 4,162,352,331 capital-increase common shares, allocating 2,932,405,804 shares to SPM and SPM SG as payment in kind for the shares of S Bright Future Co., Ltd., in lieu of cash, and allocated 1,229,946,524 shares to Mr. Santi Bhirombhakdi as payment in kind for the shares of Santiburi Co., Ltd., in lieu of cash. Such transactions resulted in the SPM Group, 99.99% owned by Boon Rawd Brewery Co., Ltd., and Mr. Santi Bhirombhakdi became new major shareholders of the Company.
  • Underwent a name change to Singha Estate Plc.
September 18, 2014
  • Underwent an SET security symbol change from “RASA” to “S”.
April 4, 2015
  • The 2015 Annual General Meeting of Shareholders, held on April 22, 2015, approved the following transactions:
    1. A 51% investment in Nirvana Development Company Limited (“Nirvana”), a well-established landed residential developer under the brand “Nirvana”
    2. An increase of regi s tered capi tal of Baht 2,635,940,054 to the total registered capital of Baht 7,348,290,786, to support the investment in Nirvana and the rights offering, and to be reserved for the exercise of warrants “S-W1”
    Invested in 51% stake in Nirvana for a total investment of 2,091 million baht, by 1) acquiring ordinary shares of Nirvana from the existing shareholders, for which the Company paid in kind with newly issued ordinary shares of the Company (Share Swap), and 2) subscribing newly issued ordinary shares of Nirvana and paying in cash.
June 6, 2015
  • Completed the rights offering and the allocation of S-W1 warrants, in accordance with the 2015 AGM resolution.
August 8, 2015
  • Invested in Suntowers Office Complex (“Suntowers”) – a Grade-B twin-towered offices on Vibhavadi-Rangsit Road, with a total investment of 4,500 million baht. (see details under “Our Projects”.)
September 8, 2015
  • The Extraordinary General Meeting of Shareholders No. 1/2015, held on September 30, 2015, approved the following transactions:
    1. The investment in Singha Complex Project – a mixed-use commercial complex – located at the corner of Asoke Montri Road and New Phetchaburi Road, with a total investment cost of not exceeding 4,255 million baht (see details under “Future Projects”)
    2.The lease of certain office building areas in Singha Complex Project to Boon Rawd Brewery Co., Ltd. and/or its subsidiaries (“Boonrawd Group”) for a total lease period of 50 years, with an approximate total rental fee of 1,900 million baht.
October 10, 2015
  • Launched “The Esse Asoke” – a 4,500-million baht project-value luxury condominium located on Asoke Montri Road which is the first residential project developed by the Company after the business integration. (see details under “Future Projects”.)
    Invested in 26 hotels under “Mercure” brand in the United Kingdom through a 50%-stake joint-venture company. Total investment is approximately 155 million GBP or 8,600 million baht. (see details under “Our Projects”)
November 11, 2015
  • Phi Phi Island Village Beach Resort launched 45 new villas with a new swimming pool (the second swimming pool of the hotel) to enhance its competitiveness and support the continuous growth of tourists.
April, 2016
  • The 2016 Annual General Meeting of Shareholders, held on April 26, 2016, approved an increase in registered capital of Baht 1,624,715,129 by issuing 1,624,715,129 new ordinary shares (with a par value of Baht 1 per share) for a total registered capital of Baht 8,973,005,905.
June, 2016
  • Completed the rights offering of 738,382,027 ordinary shares at Baht 5.00 per newly issued ordinary share.
  • Registered the Baht 738,382,027 increase in paid-up capital to the total issued and paid-up capital of Baht 6,453,719,295.
September, 2016
  • Invested in a 3-hotel portfolio in the United Kingdom (UK) through a 50%-stake joint-venture company with a total investment of approximately 12 million pounds.
  • S Hotels and Resorts Inter Co., Ltd. (a 99.99%-owned subsidiary), as service provider, entered into a Master Service Agreement with Singha Property Management (Singapore) Pte. Ltd. (the Company’s major shareholder), as service receiver, to provide project management service to the tourist facilities development project on the Republic of Maldives’s Emboodhoo Lagoon. Under the agreement, beside receiving service fee of about 276 million baht, the Company is allowed to invest in assets in the project by means of acquiring partial rights of head lease and/or subleasing assets in the project under the option to purchase and/or the rights of first refusal.
November, 2016
  • Purchased a 2.5 rai of land located at the entrance of Sukhumvit Soi 36, Sukhumvit Road (adjoining BTS Thonglor station) for the development of a super-luxury condominium project.
December, 2016
  • After completing its value-enhancement project, Phi Phi Island Village Beach Resort launched 100 new-look villas (which had been closed for refurbishment in stages from June to November 2016) to support continuous growth in tourists and enhance its competitiveness.
  • Extraordinary General Meeting of Shareholders No. 1/2016, held on December 16, 2016, approved the investment in Daii Group Public Company Limited.
Based on Singha Estate’s vision aiming for sustainable growth, our 2018 highlights included the following:
FEBRUARY
  • Launch of The ESSE Sukhumvit 36
    Singha Estate launched the super-luxury condominium project, the first project under a joint investment with HKL (Thai Developments) Limited, a subsidiary of Hongkong Land Holdings Limited, with the investment ratio of 51:49 and a project value of over 6,400 million Baht. The project lies at the entrance to Sukhumvit Soi 36, next to BTS Thong Lor Station. With its proximity to a central business district, the project commands high business potential and is surrounded by amenities. Construction is set for completion and unit ownership transfer can begin in the fourth quarter of 2020.
MARCH
  • Permission of land purchase around Rang Nam Road
    The Board of Directors passed a resolution to permit the purchase of land around Rang Nam Road in Bangkok, with an approximate area of 2 rai to develop an affordable luxury condominium project. The project is located in a high potential area near a BTS Station via numerous and easily accessible routes. This is a condominium-type residential area with rapid growth and surrounded by amenities. It also draws considerable interest from the investors. Its location is figured in Singha Estate’s five-year development plan of condominium-type residential projects. Income is expected to start coming in 2022, resulting in the Company’s income growth that will reach the planned investment ratio.
APRIL
  • Issuance and offering of ESOP-Warrant-3
    The 2018 AGM of April 25, 2018, approved issuance and offering of warrants of Singha Estate to be issued and offered for sale to the directors and employees and/or subsidiaries No. 3 (ESOP-Warrant-3) in order to boost their morale and sense of ownership.
  • Santiburi Koh Samui’s additional villas
    Singha Estate built 19 additional villas in Santiburi Koh Samui to accommodate consumer increased demand for villas. It is also the Company’s policy to increase value and upgrade assets.
MAY
  • Resolution to reduce registered capital
    The 2018 AGM of April 25, 2018, passed an important resolution to permit the reduction of the registered capital of 100 million Baht from the previously registered capital of 10,228,502,526 Baht to 10,128,502,526 Baht by omitting 100 million shares of the yet unsold registered ordinary shares at one Baht per share. These were the shares issued to accommodate the allocation of newly issued ordinary shares to limited persons (general mandate).
  • Launch of Marine Discovery Center and Toh Wai Wai activity
    In order to foster sustainability development in Phi Phi Island, where Phi Phi Island Village Beach Resort is located, Singha Estate hosted the Toh Wai Wai activity to restore balance to nature from the sky to the ocean, fostering balanced co-existence in communities and the environment. It also enhances the “Phi Phi Model”, which is the model of the national coral plan. Moreover, the Company launched the Marine Discovery Center, which is a knowledge center of marine animals for surrounding communities in line with Singha Estate’s sustainable development strategies and with the United Nations’ SDGs.
JUNE
  • Investment in six Outrigger hotels and resorts
    Singha Estate invested in six hotels and resorts in four countries from Outrigger Hotels Hawaii, according to a resolution of the meeting of the Board of Directors No. 3/2018 of February 26, 2018, with a total investment value of USD 235.39 million (Details of the assets under “Our Projects in 2018”. The six hotels and resorts are assets with huge potential located in the countries that have enjoyed continuous growth of the tourism industry and will create long-term recurring income for the Company. They also serve to diversify risks in hotel and resort businesses in line with the strategies of Singha Estate’s hotel business operation, which focus on investment in hotels and resorts located in tourist destinations.
  • Singha Estate and partners in Suntowers launched #SeaYouTomorrow
    With Singha Estate’s philosophy of sustainable development to maintain balance and enhance sustainability in all communities surrounding its operation, the Company and its partners in Suntowers jointly held a #SeaYouTomorrow campaign for reduction of plastic waste and proper selection of waste to reduce waste from cities to the ocean on World Oceans Day. It also held activities to inspire employees, trading partners, and people living around Suntowers to change their behavior toward sustainable use of plastics, livable communities, and recommended a model of office society.
AUGUST
  • Singha Estate set up two subsidiaries: S KLAS Management Co., Ltd. and S Park Property Co., Ltd.
    With a focus on its strategic move and branding, the Company made investment by setting up a subsidiary to accommodate business expansion in property management, namely S KLAS Management Co., Ltd., and the other subsidiary to accommodate the development of a new condominium project, namely S Park Property Co., Ltd. The establishment of the two companies would increase Singha Estate’s expectation of organizational efficiency, especially potential for project development and services toward its targets.
  • Singha Estate’s joint venture with Daiwa House
    S Residential Development Co., Ltd. (“SRD”) (99.99% - owned subsidiary), signed an investment agreement to develop a luxury condominium project on Sukhumvit 43 Road with DH Asia Investment Orchid PTE. LTD. under Daiwa House Group. The joint investment provided the opportunity for Singha Estate to acquire knowledge on Daiwa Group’s business operation with its expertise in the construction of prefabricated houses that would strengthen Singha Estate’s product development. This was in line with the corporate strategies to seek potential partners and in line with Singha Estate’s business operation (Smart M&A) to enhance the project’s efficiency and meet the demand of consumers.
  • Singha Estate entered into a Master Service Agreement to provide services for the development of the CROSSROADS Project Phase 2
    Singha Estate signed a Master Service Agreement and a Business Development Advisory Service Agreement with Singha Property Management (Singapore) Pte. Ltd. to provide services for the project development and counseling on the business development of the CROSSROADS Project Phase 2. As Singha Estate Group had expertise in the development of the property business, as well as management of property projects, the compensation based on the contracts would increase liquidity and provide positive impacts on the Company’s performance due to the ability to use existing resources as well as the expertise and experience of the executives and employees providing the services.
SEPTEMBER
  • Singha Estate launched its first low-rise condominium project: “EYSE Sukhumvit 43”
    Singha Estate launched the grand opening of EYSE Sukhumvit 43, which was its first luxury low-rise condominium project located on Sukhumvit Soi 43. Despite its prime location right in Phrom Phong area and next to Asoke and Thong Lor areas, there is little traffic and thus provides high level of privacy. Singha Estate viewed the project as compatible with its strategic plan of “Best in Class” delivery to consumers. It expected that unit ownership transfer and booking of income could begin by the end of 2020.
  • Singha Estate launched an ultra-luxury single-detached house project: SANTIBURI THE RESIDENCES
    As part of the strategic move to develop Singha Estate as a leading and best brand, the Company launched the ultra-luxury Santiburi The Residences with made-to-order houses on land of one rai or more with an average gross floor area of 1,250 square metres. The project value was over 5,500 million baht. Design and material quality were outstanding, with world-class services for residents. The project is also located in a high-end residential area surrounded by amenities and with easy access to Pradit Manutham Road.
  • Singha Estate notified the Standby Letter of Credit Backed Convertible Bonds
    Singha Estate publicized the “USD 180,000,000 2.00% Standby Letter of Credit Backed Convertible Bonds due 2022” from the previous 4.99 baht to 4.60 baht in accordance with the key terms and conditions of the convertible bonds, based on reference prices.
OCTOBER
  • Authorization of investment in the office building and retail space
    The Board of Directors approved an investment to develop office space and retail space (“OASIS Project”) with a net leasable area of 53,000 square metres with a total investment of 3,695 million baht. It is located on an area of approximately 7 rai on Vibhavadi Rangsit Road. The project commands high business potential with the growing demand for office buildings and is surrounded by amenities, including convenient access to transportation, next to expressways, the MRT, and BTS Stations. The project would enhance our income security and contribute to the strong growth of our investment.
  • Singha Estate entered into a Marketing Support Service Agreement for the development of the CROSSROADS Project Phase 2
    Singha Estate entered into a Marketing Support Service Agreement with a subsidiary of Singha Property Management (Singapore) Pte. Ltd. to provide marketing services for the CROSSROADS Project Phase 2. The project would benefit the formulation of marketing strategies of the CROSSROADS Project Phase 1 and Phase 2 toward the same direction in view of promoting the general image of the project and Singha Estate Group for maximum effectiveness.
  • Singha Estate approved the establishment of a trust via S Reit Management Co., Ltd.
    The Board of Directors approved S Reit Management Co., Ltd.’s establishment of a trust to invest in the right of property lease S Prime Growth (“SPRIME”) and submitted a permission form to sell the SPRIME to SEC. If permitted, it would result in the reduction of some of the Company’s assets and that of the right of management of Suntowers. But the operation would increase the working capital and aligned with our strategies of strong growth.
NOVEMBER
  • Singha Estate was honored by the 2018 ASEAN CG Scorecard Project
    Singha Estate was nominated to receive an award under the ASEAN CG Scorecard Project for being a Thai listed company with assessment at the level of TOP2 Most Improved PLCs (Thailand). In other words, it was recognized as a listed company with outstanding CG development.
DECEMBER
  • Launched of “Singha Complex”
    On December 12, 2018, Singha Estate launched the grand opening of Singha Complex, which was the Company’s first luxury mixed-use project.
  • Singha Estate transferred the ownership of The ESSE Asoke
    Singha Estate began ownership transfer of The ESSE Asoke, which would allow Singha Estate to book income from this project of approximately 1,155 million baht this year.

01
Overview
02
Company Profile
03
Vision & Mission
04
Chairman Message
05
Board & Committee
06
Our Structure
07
Corporate Timeline