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Property developer Tanayong acquires BTS for 40 billion baht

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The SET-listed property developer Tanayong Plc will pay 40 billion baht to raise its shareholding in Bangkok Mass Transit System BTSC, the operator of the capitals elevated train system, to 94.6% from 0.38% at present.Under the plan, Tanayong will acquire about 15 billion of the total paid-up shares of BTSC, which the developer founded in 1992.

The shares will be bought from Siam Rail Transport and Infrastructure Ltd 52.7%, Siam Capital Developments Hong Kong Ltd 36%, Keen Leader Investment Ltd 3.2% and the rest from Keeree Kanjanapas, chairman of both Tanayong and BTSC.Approximately 20.65 billion baht, or 51.59%, of the total transaction value will be paid in cash.

Property developer Tanayong to but BTS company

Tanayong has already been granted loans worth 22 billion baht to finance the deal.The remaining 19.378 billion baht will be paid in the form of newly issued shares of Tanayong amounting to 28.16 billion shares at the price of 0.69 baht apiece in a share swap with BTSCs existing shareholders, Mr Keeree said.

via Tanayong acquires BTS.

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Thailand’s Prime Minister concerned over illegal gambling during Euro 2020

Police in Thailand is tasked with monitoring illegal gambling. Raids regularly take place resulting in fines and or jail time for people found to be hosting or playing in illegal gambling events.

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Thailand’s Prime Minister Prayut Chan-o-cha has expressed concern over an increase in illegal gambling by Thais during the month-long UEFA European Soccer Championship, or Euro 2020.

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Latest Covid-19 News in Southeast Asia

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Coronavirus disease 2019 (COVID-19) WHO Thailand Situation Report - 22 February 2021

Singapore remains far and away the most vaccinated country in Southeast Asia, with nearly 30 percent of residents having received both doses. But the city-state has also seen an aggressive rise in local cases in recent weeks.

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